Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 112 report information sustainability report Governance review review statements Annual Report 2022 Implementing our Climate Strategy (continued) TCFD Strategy Recommendation (b) | Strategic Pillar 3 From the acceleration of innovative carbon Treasury green efficient technologies and supply chains to programmes supporting the development of viable markets for carbon capture and sequestration, the Barclays Treasury plays a key role in helping programme is seeking out and supporting clear, Barclays to meet its climate goals by allocating, scalable propositions that deliver both managing and governing its financial resources environmental benefits and economic returns. effectively, and executing sustainable principal We aim to fill growth stage funding gaps to help investments and transactions, partnering with accelerate and scale catalytic and strategic businesses to advance strategic climate solutions to environmental challenges. objectives in the transition towards a low-carbon economy. We have made meaningful progress towards building a portfolio of strategic investments Sustainable Impact Capital which have a focus on reducing carbon footprints Our Sustainable Impact Capital portfolio, led by and accelerating the transition towards a low- the Barclays Principal Investments team in carbon economy. £89m of the £175m overall Treasury, has a mandate to invest £500m into target has been deployed since 2020, with £35m global climate tech start-ups through our invested in 2022, up 16% from 2021. Sustainable Impact Capital portfolio by the end of We expect the next phase of investments will see an 2027, helping to support our clients’ transition enhanced focus on decarbonisation technologies towards a low-carbon economy. that are enabling transition within carbon intensive sectors, particularly where Barclays has meaningful client exposure such as energy and power, real estate and transport. A particular focus will be on carbon capture and hydrogen technologies. Further examples of our entrepreneur and innovation + programmes can be found on pages 105 and 106. MOF Technologies In May 2022, MOF Technologies announced that it would start work on an infield pilot An example of how Barclays is supporting involving three of the world’s major cement technology that will drive the transition to a Achieved to date companies – Heidelberg Materials, Cementir low-carbon economy is the investment in MOF Holding and Buzzi Unicem - as part of the Technologies. A spin-out from Queen’s Global Cement and Concrete Association’s University Belfast, MOF Tech has developed an Innovandi ‘Open Challenge’ to achieve net zero £89m energy efficient carbon capture system, concrete by 2050. With the cement industry Nuada, to reduce harmful emissions from Sustainable Impact Capital accounting for 7-8% of global carbon cement works, steel works, or energy-from- £m emissions, the impact opportunity for MOF waste plants. Tech’s pioneering technology is substantial They have expertise in a class of nanomaterials 24 30 35 500 and Barclays looks forward to supporting them known as Metal-Organic Frameworks (MOFs). as they scale. 2020 2021 2022 Target by 2027 n n n n MOFs are solid, sponge-like materials tailor- made to capture and separate gases like CO . 2 Further examples of our green innovation financing can be + found at: home.barclays/sustainability/our-position-on- climate-change/accelerating-the-transition/sustainable- Further details can be found at: home.barclays/news/press- impact-capital/ + releases/2022/10/barclays-invest-in-mof-technologies-/