Commercial initiatives
Recognising the value of supporting environmental sustainability, both to our customers and our business, we continue to develop products and services to act on this opportunity and responsibility.
Examples of our developments in this area:
Barclaycard
In 2007, we launched Barclaycard Breathe, which rewards card-holders for making environmentally aware purchasing decisions. Barclays also pledged to donate a minimum of £1m to environmental projects in the first year following the card’s launch.
In 2008, we extended this to launch a similar version of the card which was tailored to suit customers in Germany; Barclaycard B:Green
Barclaycard Business Sustain, aimed at commercial customers, was designed to help companies offset the carbon emissions of their business air travel. Every time the card is used to pay for flights, the carbon emissions from the journey are calculated. Barclaycard then completes an annual commission-free trade through Barclays Capital Emission Trading Desk to offset those emissions, buying carbon credits.
Barclays Capital
Barclays Capital’s Emission Trading Desk is one of the largest liquidity providers in the European Union Emissions Trading Scheme (ETS). We're now working with the UK government on improving Africa's access to global carbon finance and are investing in projects that reduce carbon emissions globally.
The business has traded more than one billion tonnes of carbon credits, with a total notional value of around $14m (£10m). In January 2009, Barclays Capital was voted the best trading company for spot and futures in the EU ETS by the readers of Environmental Finance and Carbon Finance magazines, for the third consecutive year.
Barclays Commercial Bank
Barclays Commercial Bank is building its reputation in the renewable energy market. In Spain, we are providing long-term finance for more than 2,700MW of renewable generating capacity, enough to supply electricity to more than 1.45 million homes for a year. Schemes range from small-scale hydroelectric projects to onshore wind farms.
We also have a commercial proposition which puts small and medium-sized businesses in touch with organisations providing low-cost or free advice on mitigating their carbon emissions.
