You are here:

Barclays announces its biggest ever purchase of renewable energy

02 Feb 2007 13:18 GMT
Barclays today announced that it has agreed its biggest ever purchase of renewable energy and will as a result reduce its carbon footprint by up to 125,000 tonnes of carbon dioxide (CO2) per year - the equivalent to the emissions produced by 19,000 homes in the UK in the course of a year. The move is part of Barclays commitment to lessen its impact on the environment and reduce the carbon intensity of its operations.
Starting from April 2007, 50 per cent of Barclays UK electricity consumption will come from renewable sources, compared to 3 per cent previously. Barclays UK offices including its Canary Wharf headquarters and major UK branches will be powered solely by renewable energy. Under the terms of the contract, Barclays will buy approximately 300 GWh of renewable energy per annum for the next three years from EDF Energy. Andrew Flett, Head of Environmental Management, said: “This three-year contract with EDF Energy is an important milestone which will help us to significantly reduce our carbon footprint. However, the greenest form of energy is the energy you don’t use and working to reduce our overall energy consumption remains our priority. ” Barclays has committed to making its UK operations carbon neutral. This means that for every 1MWh of non-renewable energy that is used, Barclays pays an additional £2.50 to £3.50 to offset the carbon dioxide emitted. This provides a financial incentive to avoid producing CO2 emissions by investing in energy efficiency and buying low-carbon energy. Buying green energy is part of Barclays Climate Action Programme which aims to reduce Barclays carbon footprint by: 1. Reducing the carbon intensity of Barclays operations by increasing energy efficiency. 2. Buying renewable energy. 3. Offsetting the remainder of Barclays UK emissions. 4. Developing products and services that help our customers to reduce their own carbon footprint. EDF Energy is a major supplier of renewable energy in the UK. Its supplies are sourced from UK and Europe-based generators, which are all accredited by Ofgem as 'renewable generators'. -Ends-
Notes to Editors:
The electricity that EDF Energy supplies to Barclays is backed by Renewable Levy Exemption Certificates and does not include electricity from Good Quality CHP (Combined Heat and Power) using fossil fuels. Calculation details The energy demand forecast for the contract is 299 GWh per year. One kWh equates to 0.43kg of CO2 [DEFRA] so 299 GWh x 0.43 x 1000 = 128,570 tonnes CO2. Each UK household creates around 6 tonnes of CO2 per year [Energy Saving Trust] Each UK citizen has a carbon footprint of 10.92 tonnes [The Carbon Trust]. About EDF EDF Energy also helps its business customers achieve their sustainability ambitions with a range of energy saving services and recently launched an energy efficiency toolkit to help UK businesses plan, implement and sustain energy saving campaigns. For details, please visit www.edfenergy.com/business.

About Barclays

Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.