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Company Response

Response by Barclays

Please see our response at the following link: https://home.barclays/news/2019/04/supporting-the-transition-to-a-low-carbon-economy/

We are determined to do all we can to support the transition to a low carbon economy, while ensuring that global energy needs continue to be met...Regarding fossil fuels, we expect there to be a significant shift away from carbon-based fuel use in the long term, and our financing activity will reflect that change. In most scenarios, however, oil and gas are expected to continue to be relied upon as a main source of energy for some time to come. The reliance on gas as a transition fuel, and a partial replacement for oil, is expected to increase over this period... We have placed specific restrictions on what we will finance, ensuring we are balancing our responsibility to help keep the lights on and to support economic prosperity. Our new approach is laid out in our Energy and Climate Change Statement We take an enhanced due diligence approach to many projects in high carbon sectors and those that have a direct impact on indigenous peoples... We are also fully committed to operating in accordance with the Universal Declaration of Human Rights and our approach is outlined in a Human Rights statement (PDF 245KB).

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