Investors Pressure UK Banks to Strengthen Renewable Energy Funding Targets

Amid political skepticism about the cost of achieving net zero in the UK, investors are urging major banks to reinforce their climate commitments. At Barclays’ AGM, a group managing £1.36 trillion in assets will call for a clear renewable energy funding target. Similar pressure is being applied to Standard Chartered and HSBC this week.

Barclays has pledged $1 trillion in sustainable financing by 2030, with $162.2 billion already delivered. However, investors led by ShareAction are demanding detailed disclosures on how the bank quantifies its progress and are pushing for a specific goal for renewable power investments.

Standard Chartered investors will highlight the bank’s potential to support clean energy in emerging markets. HSBC reaffirmed its net-zero commitment at its AGM, despite growing political resistance to green finance both in the UK and globally.