A new report covering the latest science on the climate and ecological crisis, Emergency on Planet Earth, denounces Barclays for continuing to pour billions into fossil fuels, driving up carbon emissions that will lead to devastating global heating if unchecked. The report highlights the absurdity of the financial world's response to the 2016 Paris Climate Agreement to limit the global temperature rise, since when bank financing for fossil fuels has increased every year. While some banks have taken action to reduce funding or set deadlines for withdrawing completely from coal, Barclays has funnelled more into fossil fuels than any other bank in Europe, adopting a climate policy considered little more than greenwash.
Structured as a guide to the damage and fatal results CO2 emissions are already causing, as well as the much worse future impacts without urgent collective action, Emergency on Planet Earth dispassionately combines the latest results from climate science fields without cherry picking, including where earlier models are shown to have given unrealistic predictions, to demonstrate that it is nevertheless more crucial than ever that we reduce CO2 emissions as fast as possible. Given Barclays' profit-before-planet policy, its customers and investors may wish to withdraw from the bank to prevent their money helping push us towards environmental disaster.