Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 136 report information sustainability report Governance review review statements Annual Report 2022 Important information / Disclaimers • continued (and will continue) to review and • appointed KPMG LLP to perform limited Disclaimers Information provided in climate develop our approach to data, models and independent assurance over selected ESG and sustainability disclosures In preparing the climate and sustainability methodologies in line with market principles content, which have been marked with the content within the Barclays PLC Annual Report What is important to our investors and and standards as this subject area matures. symbol Δ. The assurance engagement was wherever it appears, we have: stakeholders evolves over time and we aim to The data, models and methodologies used planned and performed in accordance with anticipate and respond to these • made a number of key judgements, and the judgements estimates or assumptions the International Standard on Assurance changes. Disclosure expectations in relation to estimations and assumptions, and the made are rapidly evolving and this may directly Engagements (UK) 3000 Assurance climate change and sustainability matters are processes and issues involved are complex. or indirectly affect the metrics, data points and Engagements Other Than Audits or Reviews particularly fast moving and differ in some ways This is for example the case in relation to targets contained in the climate and of Historical Financial Information and the from more traditional areas of reporting in the financed emissions, portfolio alignment, sustainability content within the Annual International Standard on Assurance level of detail and forward-looking nature of the classification of environmental and social Report. Further development of accounting Engagements 3410 Assurance of Greenhouse information involved and the consideration of financing, operational emissions and and/or reporting standards could impact Gas Statements. A limited assurance opinion impacts on the environment and other persons. measurement of climate risk. (potentially materially) the performance was issued and is available at the website link We have adapted our approach in relation to metrics, data points and targets contained in below. This includes details of the scope, • used ESG and climate data, models and disclosure of such matters. Our disclosures take this report. In future reports we may present reporting criteria, respective responsibilities, methodologies that we consider to be into account the wider context relevant to these some or all of the information for this reporting work performed, limitations and conclusion. appropriate and suitable for these purposes as topics, including evolving stakeholder views, and period using updated or more granular data or No other information in this Annual at the date on which they were deployed. longer time-frames for assessing potential risks improved models, methodologies, market Report has been subject to this external However, these data, models and and impacts having regard to international long- practices or standards or recalibrated limited assurance. methodologies are subject to future risks and term climate and nature-based policy goals. Our performance against targets on the basis of uncertainties and may change over time. They climate and sustainability-related disclosures are The limited assurance opinion is available at: home.barclays/ updated data. Such re-presented, updated or + are not of the same standard as those sustainability/esg-resource-hub/reporting-and-disclosures/ subject to more uncertainty than disclosures recalibrated information may result in different available in the context of other financial relating to other subjects given market outcomes than those included in this section information, nor subject to the same or challenges in relation to data reliability, of the Annual Report. It is important for equivalent disclosure standards, historical consistency and timeliness, and in relation to the readers and users of this report to be aware reference points, benchmarks or globally use of estimates and assumptions and the that direct like-for-like comparisons of each accepted accounting principles. There is an application and development of methodologies. piece of information disclosed may not always inability to rely on historical data as a strong These factors mean disclosures may be be possible from one reporting period to indicator of future trajectories, in the case of amended, updated, and recalculated in future another. Where information is re-presented, climate change and its evolution. Outputs of as market practice and data quality and recalibrated or updated from time to time, our models, processed data and methodologies availability develops. principles based approach to reporting will also be affected by underlying data quality financed emissions data (see page 87) sets out which can be hard to assess or challenges in when information in respect of a prior year will accessing data on a timely basis. be identified and explained.