Barclays bank is set to increase its funding of innovative climate tech startups from £175m by 2025, to £500m by 2027, seeing growth opportunities in the sector
The next phase of investment will see an enhanced focus on decarbonisation technologies. Source: unsplash.com
Barclays significantly increases sustainable finance inflow into climate-tech startups through its Sustainable Impact Capital portfolio up to £500m by end of 2027.
The bank has already surpassed its existing £150bn sustainability investment target. Now, reviewing growth opportunities, Barclays announces a new target – to facilitate $1 trillion of Sustainable and Transition Financing by end of 2030.
In the last two and a half years, the bank has invested £84m into innovative tech startups. The Sustainable Impact Capital investments have supported multiple initiatives, from property retrofit solutions to long-duration energy storage and hydrogen technologies.
Besides, the next phase of Sustainable Impact Capital investments will increasingly focus on decarbonisation technologies (e.g. carbon capture and hydrogen technologies) enabling transition within carbon-intensive sectors. In particular, Barclays may enhance transition finance in the segments where it has meaningful client exposure such as energy and power, real estate and transport.
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