Barclays helps fund Drax power station, which is the world’s biggest tree-burning power station and the UK’s single largest carbon emitter.
Barclays wants you to think it is a climate-friendly bank which is supporting wildlife and investing in renewable energy.
However, Barclays is funding forest destruction, biodiversity loss, environmental injustice and climate-wrecking emissions through its investments in Drax which is the UK’s single largest carbon emitter and the biggest wood-burning power station in the entire world.
This financing includes a £500 million bond in 2017 and a £300 million corporate loan to help fund Drax’s coal to biomass conversion; a loan which was extended by Barclays in 2015, 2017 and 2020. Barclays is also the biggest funder of fossil fuels in Europe. You can find out more about Barclays’ funding of Drax and fossil fuel companies from the Sharklays website and the Extinction Rebellion video below.
Following the recent BBC Panorama investigation into Drax’s logging and burning of trees from some of the world’s most precious forests in Canada, awareness of the devastating impacts of biomass burning is growing. Please help us spread the word further by joining us to call on Barclays Bank to stop funding Drax’s planet-wrecking tree burning.
1. Complete the form below to tell the bank to stop funding Drax’s tree burning, forest destruction and environmental injustice
2. Barclays AGM 2023: Take action online to call on Barclays to #DropDrax
As Barclays holds its AGM in London today, we are delighted to join Money Rebellion & groups across the UK for a Break Up With Barclays day of action to call on Barclays to stop funding fossil fuels and Drax's tree burning. You can take action here using this Barclays AGM Action Pack which has sample social media images and messages you can use to support the campaign.
3. Watch and share out webinar
On Friday 18th November, BankTrack, Environmental Paper Network and Money Rebellion hosted a webinar on 'Barclays and Drax's tree burning - how to stop the money pipeline' which you can watch below:
If you can not see the video below here is the link on youtube.