Barclays chair stated the British bank can and must play a leading role in tackling climate change, hours after environmental activists sprayed fake oil on its headquarters to call on the lender to divest from fossil fuels.
Barclays has come under growing backlash over its environmental credentials, with some shareholders demanding radical reforms to its Big Oil and fossil fuel financing policies.
Investors voted remotely forward of the assembly on two separate climate change motions – one supported by investor group ShareAction and the other by the Barclays board – with outcomes due to being featured Thursday.
Activists from Extinction Rebellion stated biodegradable and vegan oil was sprayed onto Barclays’ office in Canary Wharf in London in protest against the bank’s monetary assist of energy and utility companies.
Higgins further stated within the statement that the cancellation of the bank’s dividend at the behest of the Bank of England had precipitated a fast and unwelcome effect on shareholders, including that the bank might have afforded the payout.
Previous to the virus outbreak, Barclays had been making ready for an extra tussle at its annual assembly with activist investor Ed Bramson; however Bramson paused his marketing campaign to oust CEO Jes Staley’s final month, saying responding to the pandemic needs to be the precedence.
Individually on Thursday, the British parliament’s treasury committee requested Barclays to clarify delays to granting emergency loans to small companies, amid criticism of banks for sluggish delivery of state-backed loans to struggling companies.