Tell Norfolk Councils to stop banking with Barclays

Norfolk County Council, Norwich City Council, Broadland District Council, South Norfolk District Council, North Norfolk District Council, Kings Lynn and West Norfolk Borough Council, Breckland District Council, Great Yarmouth Borough Council

At present, all of the above councils rely on Barclays for their banking operations. Barclays is Europe’s largest funder of fossil fuels. The councils’ banking contracts are up for renewal next year. We ask them to seize this opportunity to switch to a more climate friendly bank.

Instead of reducing its fossil fuel investments after the 2015 Paris Climate Agreement that demands urgent and drastic reductions in the greenhouse gas emissions that arise from burning fossil fuels, Barclays has continued to pour billions of dollars into this industry.

From 2016-2022, Barclays has given over £150bn to companies active across the fossil fuel life cycle. That is over ten times more than its competitors NatWest (just under £13bn) and Lloyds (just over £12bn), the other two banks currently providing banking services to local governments in the UK.[1] Barclays is also the only major British bank to not have taken any steps to restrict investments in new oil and gas.[2] In the period from 2016-2022, it has given over £44bn to companies expanding fossil fuel exploitation, locking in future emissions.[3]

All of the councils listed here have declared a ‘climate emergency’ or adopted NetZero emissions targets. It is incongruous that they continue handing over citizens’ money to a financial institution that bankrolls climate breakdown on such a massive scale.

We therefore ask the leaders of the Councils:

  • To not renew the banking contract with Barclays next year.
  • To move their council’s banking operations to the bank with the best record on climate.
  • To write to all banks applying to their tender to highlight their concerns about the role of the banking sector in funding climate breakdown and to demand that these banks immediately stop all investments in companies active across the fossil fuel life cycle.

[1] Rainforest Action Network, Banktrack, Indigenous Environmental Network, Oilchange, Reclaim Finance, Sierra Club & Urgewalt: “Banking on Climate Chaos: Fossil Fuel Finance Report 2023”: https://www.bankingonclimatechaos.org/wp-content/uploads/2023/06/BOCC_2023_06-27.pdf

[2] https://www.reuters.com/business/sustainable-business/barclays-tightens-lending-dirtiest-fossil-fuels-2023-02-15/

[3] “Banking on Climate Chaos: Fossil Fuel Finance Report 2023”

To: Norfolk County Council, Norwich City Council, Broadland District Council, South Norfolk District Council, North Norfolk District Council, Kings Lynn and West Norfolk Borough Council, Breckland District Council, Great Yarmouth Borough Council
From: [Your Name]

I call on Norfolk Councils:

- To not renew the banking contract with Barclays next year.
- To move their council’s banking operations to the bank with the best record on climate.
- To write to all banks applying to their tender to highlight their concerns about the role of the banking sector in funding climate breakdown and to demand that these banks immediately stop all investments in companies active across the fossil fuel life cycle.