Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 113 report information sustainability report Governance review review statements Annual Report 2022 Implementing our Climate Strategy (continued) TCFD Strategy Recommendation (b) | Strategic Pillar 3 Naked Energy 2050 – putting solar thermal energy at the heart of working to meet the goals and Barclays is actively supporting the energy timelines of the Paris Agreement. Naked transition through Sustainable Impact Capital Energy’s Virtu product range addresses end- investment in the British design and customers with a constant heat demand, such engineering business Naked Energy. It as hospitals, multi-dwelling residential specialises in global innovation in solar thermal developments, hotels, leisure centres and and solar PVT (PV-Thermal) with a mission to manufacturing, e.g. food and beverage ‘change energy for good’ by heat industries. Virtu allows businesses to maximise decarbonisation. Heat is responsible for 51% of the potential of their roof space by generating all energy demand and accountable for 40% of 2 more energy per m than other solar carbon emissions globally. 90% of all heat technologies. VirtuHOT (solar thermal) and consumption still comes from fossil fuels. The VirtuPVT (combined solar heat and power) key to decarbonising heat is through large- 2 produce 50-100% more energy per m , deliver scale deployment of distributed renewable three to four times more carbon savings (when heating solutions, such as solar thermal. Solar compared with PV) and up to 50% greater thermal heating systems provide a reliable, and returns. It is a versatile solution to delivering on more resilient energy infrastructure by offering a company’s ESG targets. zero carbon heat affordably and space ECOncrete efficiently. Additionally, modern thermal Decarbonisation impact Barclays’ Sustainable Impact Capital investment Compared with traditional concrete, storage technology allows end-customers to Since becoming commercially active in 2018 in ECOncrete Tech, a pioneering start-up ECOncrete’s technology has shown the benefit from affordable clean heat throughout Naked Energy has sold more than 5,000 Virtu delivering high-performance ecological ability to double the biodiversity and the year. The International Energy Agency collectors, to over 60 projects in 13 countries. concrete technologies, demonstrates our abundance of marine species, provide an estimates solar thermal and geothermal In total Virtu has abated over 274 tonnes of support for innovative environmental solutions. active carbon sink over the lifespan of the production will meet 75% of all heat demand by carbon emissions. The technology seeks to enhance marine life on structure, and significantly improve water offshore and coastal infrastructure, which can quality. This is due to their patented Further details can be found at: nakedenergy.com/ or + home.barclays/news/ for press release updates be used for shoreline protection, waterfront admixture and unique design which has been a infrastructure and offshore applications. The peer reviewed and evaluated by marine technology creates new biologically available scientists. surfaces for marine life such as oysters, corals or ECOncrete’s activities are helping to solve a barnacles, while preserving and strengthening key environmental challenge for the coastal the infrastructure’s functional and structural and marine industries, improving the health properties. Species like oysters, for example, and resilience of surrounding ocean life. become a critical ecological stepping stone for Barclays’ support in ECOncrete’s growth additional organisms to live on and around a ambitions through Sustainable Impact Capital structure and also act as biological glue, equity investment will help enable ECOncrete enhancing the strength and durability of to expand rapidly into new markets and scale structures. operations into large-scale projects. Note a icevirtuallibrary.com/doi/abs/10.1680/fsts.59757.124