Why investors should vote against Barclays’ 2022 Say on Climate proposal
Barclays is giving shareholders a Say on Climate vote at its 2022 AGM, scheduled on 4 May, through Resolution 26 – Climate Strategy, Targets, and Progress.
Voting in favour of Barclays’ Say on Climate would be equivalent to giving the bank a mandate to adopt and pursue an inadequate plan, making any follow-up engagement on climate much harder for investors. It is also important to note that Resolution 26 does not specify how long a mandate shareholders would be giving the bank. This could range from one to three years. Therefore, we recommend investors vote against Barclays’s climate plan and let the bank know of their voting intention.