Barclays to invest £500m in climate tech start-ups by 2027
UK banking giant Barclays is ramping up its equity capital investment in global climate tech start-ups to £500 million by 2027.
Barclays increases funding for climate tech start-ups
Barclays says it arrived at the decision following “substantial interest and demand”. The move will see the bank’s Sustainable Impact Capital investment mandate increase from £175 million by 2025 to £500 million by 2027.
“The success of the investments to date means an increase in the investment mandate to £500 million is required to allow Barclays to continue existing efforts and support new investments,” Barclays says.
With the increased spending, Barclays plans to focus on decarbonisation technologies that are enabling transition within carbon-intensive sectors, “particularly where Barclays has meaningful client exposure such as energy and power, real estate and transport”.
The bank says it has invested £84 million in “innovative” start-ups in the last two and a half years to help firms scale their solutions and fill growth stage funding gaps.
“Barclays is uniquely positioned to help scale the new climate technologies that will decarbonise industries and create green jobs,” says Daniel Hanna, Barclays global head of sustainable finance for the corporate and investment bank.
“Many of the technologies that are required to achieve net-zero have not yet reached commercial scale.
“Barclays can play a critical role though leveraging our experience as an advisor, bank and investor through our Sustainable Impact Capital programme to help accelerate their development and adoption.”
