In 2019 Carmarthenshire County Council recognised the Global Climate Emergency and have since published their strategy for achieving net zero CO2 emissions from their own operations.

Carmarthenshire County Council however continues to bank with Barclays, the largest fossil fuel funding bank in Europe, (£106 billion 2015-2020). Barclays continue to fund new fossil fuel projects which the International Energy Agency states clearly is not compatible with keeping global warming to internationally agreed 1.5°C.

Any reductions that Carmarthenshire achieve in reducing their CO2 is dwarfed by the emissions caused by the projects financed by Barclays.

We call on Carmarthenshire County Council to:

remove their business from Barclays at the earliest possible time and transfer to an ethical bank, (or should there be no ethical bank able to deal with their corporate needs, move to the least worst bank in sector.)
apply pressure on Barclays to change their investments policies to those that prioritise the needs of the climate and future generations.

References

https://www.ran.org/wp-content/uploads/2021/03/Banking-on-Climate-Chaos-2021.pdf

Rainforest Alliance. Banking on Climate Chaos. Fossil Fuel Finance Report 2021.

https://www.iea.org/reports/net-zero-by-2050

International Energy Agency. Net Zero by 2050. A Roadmap for the Global energy Sector. May 2021

https://gov.wales/well-being-of-future-generations-wales

The Well-being of Future Generations (Wales) Act. 2015