Barclays leaves Net Zero Banking Alliance to combat climate change

Bank / Credit Union

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August 4, 2025

Barclays has left the Net Zero Banking Alliance, which aims to reduce carbon emissions and combat climate change. The bank left this group due to several other major banks in both the U.S. and the U.K. departing as well, according to a report by Reuters.

However, despite this decision, the bank said it is still dedicated to transition to net zero carbon emissions by 2050. It also claimed that is has made $66.6 million from sustainable and low-carbon finance in 2024.

“With the departure of most of the global banks, the organization no longer has the membership to support our transition,” Barclays said in a statement.

However, Jeanne Martin, co-director of corporate engagement at NGO ShareAction said this decision was “incredibly disappointing and a step in the wrong direction at a time when the dangers of climate change are rapidly mounting.”

The Net Zero Banking Alliance still has 124 member banks globally.