Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 252 report information sustainability report Governance review review statements Annual Report 2022 ESG: Governance (continued) Group Head of PPCR include embedding climate-related risks entity. Other governance bodies/ forums and opportunities into financial planning. typically operate across the Group and The Group Head of PPCR leads the bank’s oversee climate-related issues, risks and overall sustainability and citizenship Global Head of Sustainable Finance - opportunities within their remit and agendas. Specifically, the role is Corporate & Investment Bank escalate material issues as appropriate. responsible for leading Barclays’ efforts in The Global Head of Sustainable Finance for These committees and forums follow the tackling climate change, and for integrating the Corporate and Investment Bank (CIB) established escalation process for our ambition and commitments to help is a member of the CIB Management climate-related items, bringing updates embed the transition towards a low- Team, reporting to the Global Head of the first to the relevant Group ExCo member, carbon economy into the business. Corporate and Investment Bank and the then the Group ExCo, and ultimately to the Group Head of Public Policy and Corporate Group Head of Sustainability Board. Responsibility. The role was created in The Group Head of Sustainability leads the 2022 to develop a centre of excellence for Implementation - business Sustainability and ESG team, and the sustainable finance to support Barclays’ working level committees, strategic direction and execution of clients navigate the opportunities and forums and reports Barclays’ policies and practices across a challenges of transitioning towards a low- broad range of sustainability and ESG Principal Investments Equity Committee carbon economy. Barclays has a target to matters, including climate change. The role The Principal Investments Equity facilitate $1tn of Sustainable and also oversees the development of Committee (the “Committee”) undertakes Transition Financing by the end of 2030. standards and metrics to advance green the senior approval responsibilities relating The Group Head of Sustainable Finance and sustainable finance and to steward to the execution and management of all for CIB is also a member of the Barclays early innovation in sustainable product and principal strategic equity and workout Sustainable Impact Capital portfolio service development. equity transactions managed on behalf of Investment Committee, which is investing This role is responsible for Reputation risk Barclays PLC and all other Barclays Group up to £500m in sustainability-focused issues arising from climate change, entities. The formation and authority of start-ups by 2027. The role partners although the Board has overall this Committee comes from the Group closely with Barclays’ Sustainability and responsibility for reputation matters CEO, acting through the Group Executive ESG teams on our Net Zero targets and generally. The Group Head of Sustainability Committee. The Committee consists of environmental and social risk management reports directly to the Group Head of senior stakeholders that meet on a regular and with the Head of Sustainable Finance PPCR. basis which, when considering the in Barclays UK to deliver change across the ‘Sustainable Impact Capital’ portfolio, Group Head of Climate Risk firm. includes the Global Head of Sustainable The Head of Climate Risk was appointed in Head of Sustainable Finance - Barclays Finance and Group Head of Sustainability July 2020 and is the Principal Risk Lead for UK for CIB. Climate Risk. Being the Head of the The role of Barclays UK Head of Climate and Sustainable Finance Council Climate risk team, the role encompasses Sustainable Finance was created in 2022 the development of Climate risk The Climate and Sustainable Finance with responsibility for the strategic governance, including ownership of the Council (C&SFC), created by the Group direction and execution of the Barclays UK Group’s Climate Risk Framework, and CEO in 2022, is a forum of senior sustainability strategy. The role oversees making recommendations on risk appetite, stakeholders that meet monthly. The the development and delivery of Barclays constraints and exclusions to BRC, C&SFC aims to identify, accelerate and UK products and propositions to enable informed by Barclays’ net zero ambition. promote the development of Barclays’ our retail and small business customers to Further responsibilities include leading the climate and sustainable finance growth adopt more sustainable practices – development of Climate risk opportunities for the benefit of our covering finance, tools, education and methodologies and our approach to customers and clients across all our partnerships. The role also partners closely carbon modelling, including the businesses, products and services. The with the Barclays UK Government BlueTrack™ model. The Head of Climate C&SFC is not a decision-making body and Relations team to develop advocacy Risk reports directly to the Group CRO, sits outside of the formal executive positions, as well as Legal, Risk and and is the Chair of CRC. governance structure; it does, however, Compliance functions to embed provide guidance, encouragement and Group Head of Finance - Sustainability sustainability into processes and challenge to internal stakeholders on and ESG frameworks. The Head of Sustainable climate and sustainable financing solutions Finance is a member of the Barclays UK The Group Head of Finance - Sustainability and related activities across the Group. ExCo. and ESG was appointed in January 2022. The role encompasses leading Barclays Business / Legal Entity committees / global external, internal and regulatory forums reporting capabilities relating to Oversight and management of climate- sustainability and ESG, and tracking related risks and opportunities occur at a progress made across our businesses to number of levels in the organisation and meet our climate targets, which is across business lines and legal entities. fundamental to support our ambitions. Barclays operates through a combination This includes embedding climate-related of formal mandated committees and disclosures such as the TCFD into our governance bodies/forums. The framework of disclosure procedures, mandated committee structure operates governance and controls supporting the on a legal entity basis and will oversee approval of the Group’s financial climate-related issues relevant to that statements. Further responsibilities