Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 123 report information sustainability report Governance review review statements Annual Report 2022 Implementing our Climate Strategy (continued) TCFD Strategy Recommendation (b) In addition to our engagements with industry In striving towards a common reporting working groups and events, we have worked with framework to help support comparability and governments in the geographies where we operate accountability, we were an early adopter of TCFD to support them in their adoption of net zero targets reporting in the UK, adopting and promoting the and strategies. framework in 2017, prior to it become a regulatory requirement. We have also responded Further details of our engagements with + governments can be found on page 126. to the Transition Plan Taskforce’s call for evidence, and are part of the sandbox testing their recommendations. formulating an industry-wide standard for PCAF Working Group on accounting for the emissions associated with Capital Markets Activities capital markets activity. Since 2020, Barclays has been an active This year the working group built on the member of the Partnership for Carbon feedback from their November 2021 Accounting Financials (PCAF), an industry-wide discussion paper and put out a proposed initiative which aims to build consensus on methodology to public consultation in approaches to carbon accounting, disclosure September 2022. Final discussions are and portfolio alignment. ongoing and a finalised methodology is In 2022, and for the second year running, expected to be published in 2023. Barclays co-chaired the PCAF Capital Markets working group which is tasked with Further details can be found at: + carbonaccountingfinancials.com/files/ downloads/pcaf-capital-market-instruments- proposed-methodology-2022.pdf Commenting on the role of banks in the Sponsor of Net Zero transition to net zero, Venkat reflected on Delivery Summit how financial institutions were critical to Barclays was a sponsor of the Net Zero driving progress during the industrial Delivery Summit 2022, an international summit revolution through offering and pricing credit. that took place in London in May 2022, focused Around 200 leaders from the Glasgow on net zero delivery and the progress being Financial Alliance for Net Zero, as well as from made against the key priorities for finance business, and financial and professional agreed at COP26. services, attended. Our Group CEO, C.S. Venkatakrishnan, spoke as part of a panel of CEOs discussing net zero Further details can be accessed at: + www.theglobalcity.uk/sustainable-finance/net- implementation and how the financial sector zero-delivery-summit-2022 and the real economy can realise their net zero ambitions through credible, ambitious, transition plans.