Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 122 report information sustainability report Governance review review statements Annual Report 2022 Implementing our Climate Strategy (continued) TCFD Strategy Recommendation (b) These groups bring together peers under a Engaging with industry common set of principles, and help to support members’ unilateral implementation of those We know that leveraging the relationships principles through the independent targets and we hold with stakeholders can support all of plans they adopt, through sharing knowledge and us in achieving our objectives. publishing additional guidance or research. The issues we grapple with are shared by many in For the world to transition at pace and to keep the industry. One example is the work we are global warming at 1.5 ° above pre-industrial doing with the Global Financial Markets levels, all actors in the economy have to play their Association (GFMA) Climate Data Standard part, adapt and innovate. Against this backdrop, working group, which is working towards engagement with others in our industry - development of a voluntary industry wide, experts, key stakeholders and our peers - and standardised data collection template for sharing knowledge is vital, noting that in doing so decision relevant data. we remain mindful of regulatory considerations. To prevent inefficiencies, for example through Through appropriate engagement with industry unnecessary duplication of effort, and encourage experts, academics and peers, we have benefited widespread adoption of a solution, Barclays from, as well as contributed to conceptual joined peers and industry experts to try and discussions assessing the pathways to a low- tackle one of the biggest challenges facing the carbon economy, considered emerging industry: a lack of robust and comparable data. methodologies and taxonomies and worked to We have publicly supported industry-wide develop tools and best practice in data sourcing. engagements, including at events, roundtables By sharing and being open about challenges in and panel discussions including at COP27 and this new discipline where permissible, the COP15. Topics covered included improving GTIE is the precursor to the next Global industry is building knowledge and thought Department for International reporting for accelerated reductions, unleashing Investment Summit in 2023, for which leadership to enable advancement. Trade’s Green Trade & the full potential of sustainable financing, Barclays was the headline sponsor in 2021. We have partnered with civil society Investment Expo supporting a timely transition and embedding This partnership underlines the importance organisations, such as RMI whereby we have Barclays has joined forces with the Department climate and nature into corporate decision- of building strong private and public sector joined 12 other FIs to become a strategic partner for International Trade (DIT) to sign an making. relationships to unlock increased trade, of their Centre for Climate Aligned Finance. industry-leading five-year partnership export and investment opportunities post- Further details of our just transition related engagements + Barclays has contributed to sector-wide agreement to broaden, deepen and sharpen can be found on page 119. COVID. From start-ups looking to step onto Further details of our nature and biodiversity related ambitions and the development of solutions efforts to drive increased exports and trade the exporting ladder, or established engagements can be found on page 121. through participation in initiatives including the and investment opportunities for UK Barclays' register of our engagement with industry corporates looking to expand their global initiatives, working groups and memberships can be found Net-Zero Banking Alliance (NZBA), the Glasgow businesses of all sizes. offering, clients from across the bank will be at: home.barclays/sustainability/esg-resource-hub/reporting- Financial Alliance for Net Zero (GFANZ) and the and-disclosures/ The Green Trade and Investment Expo (GTIE) able to capitalise on the benefits of closer Sustainable Markets Initiative’s Financial Services is a UK Government-led conference to working between Barclays and the DIT. Taskforce. position net zero as a key driver of the UK’s Further details can be found at: home.barclays/news/ + press-releases/2022/060/barclays-and-department-for- future economic growth and highlight the international-trade--dit--announce-i/ commercial opportunities around the transition.