Barclays Presents Its First ‘Shared Growth Ambition’ Report

Dailycsr.com – 27 February 2017 – Barclays came out with the report of its “annual Citizenship performance” under the “Barclays PLC Annual Report 2016”, marking it to be the first year for Barclays to display “Shared Growth Ambition”.

The “Shared Growth Ambition” of Barclays is a new strategy on Citizenship that deals with efforts being made in the economic sectors that banks yield “greatest impact”, whereby aligning the “core strength as a financial services institution”. Here is a list of key measures, as mentioned by Ethical Performance:

• Access to financing: This helps to leverage capital for crucial social and environmental infrastructure, while giving access to growing markets.
• Access to financial and digital empowerment: This ensures customers and communities can benefit from financial and digital services, while helping Barclays to increase loyalty and engagement.
• Access to employment: This addresses a major global challenge, while also building long-term demand for banking services.

In the words of the group chief executive at Barclays, James E. Staley: “As we complete the restructuring of our bank we will stay wedded to a fundamental principle of finance: earn and maintain the trust of your customers and clients. Just as 327 years ago when we were founded, Barclays will be known for the way in which we do business and the integrity with which we operate, having a positive impact on society, while delivering shareholder value.”

Below are some of the highlights of Barclays performance for the year of 2016, as mentioned by Ethical Performance:

• 21.1bn GBP delivered in financing for solutions that address environmental and societal challenges.
• Launched Sustainable Investing and Bond Returns as the first publication in the new Impact Series to explore the impact of economic, demographic, and disruptive changes on markets, sectors, and society at large.
• 249,000 individuals and small businesses improved their access to financial and digital services.
• 1,717,600 people supported in developing employability skills globally.
• Launched Unreasonable Impact, an international network of accelerators focused on scaling up entrepreneurial solutions that will help employ thousands worldwide while solving some of our most pressing societal challenges.
• Reduced emissions by 15.8%, making good progress against a new target to achieve a 30% carbon reduction by 2018 (against a 2015 baseline).

Barclays has been attempting to identify interest of specific stakeholders and to note them in “more detailed technical information”, whereby Barclays has created the “Environmental Social Governance Supplement” which provides “additional data” and supports the “Annual Report and other disclosures” with further information.

References: http://www.ethicalperformance.com