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Barclays' environmental stance has come under increasing pressure
after one of Barclays' top 25 investors backed a shareholder resolution urging the bank to stop lending to fossil fuel companies.
Jupiter Asset Management, which holds 1.
2 percent of the shares, is the largest shareholder in support of the resolution, which will be voted on
at Barclays' annual investor meeting on May 7.
Amid concerns about Barclays' role as financier of Europe's largest fossil fuel company, this has intensified pressure
on Barclays to provide services to fossil fuel companies that do not meet Paris' climate goals.
Europe's largest asset manager Amundi and Nest (Nest), the largest British pension fund among its members, also announced plans to support the resolution, spearheaded
by campaign group ShareAction.
Ashish Ray, Head of Governance and Sustainability at Jupiter Asset Management, said: "As investors, we expect the board and management team to maintain a long-term mindset and appropriately manage the key risks
to their business.
We believe that the objectives of the resolution are fully consistent
with that approach.
”
A Barclays spokesman said: "We will continue to engage with ShareAction and other shareholders on this issue and will make further statements
in due course.
" ”
Barclays' environmental stance has come under increasing pressure
after one of Barclays' top 25 investors backed a shareholder resolution urging the bank to stop lending to fossil fuel companies.
Jupiter Asset Management, which holds 1.
2 percent of the shares, is the largest shareholder in support of the resolution, which will be voted on
at Barclays' annual investor meeting on May 7.
Amid concerns about Barclays' role as financier of Europe's largest fossil fuel company, this has intensified pressure
on Barclays to provide services to fossil fuel companies that do not meet Paris' climate goals.
Europe's largest asset manager Amundi and Nest (Nest), the largest British pension fund among its members, also announced plans to support the resolution, spearheaded
by campaign group ShareAction.
Ashish Ray, Head of Governance and Sustainability at Jupiter Asset Management, said: "As investors, we expect the board and management team to maintain a long-term mindset and appropriately manage the key risks
to their business.
We believe that the objectives of the resolution are fully consistent
with that approach.
”
A Barclays spokesman said: "We will continue to engage with ShareAction and other shareholders on this issue and will make further statements
in due course.
" ”
