Extinction Rebellion activists were busy outside Barclays on Croydon High Street this morning, raising a “Toxic Barclays” banner and leafleting passers-by about the bank’s role in fuelling the unfolding climate catastrophe.
Barclays is Europe’s largest financier of fossil fuels, the use of which is a principal cause of the climate catastrophe.
Although the International Energy Agency says “there is no need for investment in new fossil fuel supply”, last year Barclays invested nearly £20billion in fossil fuels. Since the Paris Climate Agreement, their total investment in fossil fuels is almost £150billion.
A spokesman for Croydon XR said, “Scientists say keep the coal in the hole in order to stop global warming.
“Barclays are going against everything scientists are saying”.
In April, the United Nations reported that the world is on a “fast track” to disaster, with scientists warning it is “now or never” to limit global warming to 1.5 degrees.
Britain recorded its hottest ever temperature this summer, and there were three times the usual number of wildfires.
Drought conditions are set to continue across the country, with a hosepipe ban in place in Croydon and across the Thames Water region into 2023.
At COP27 last week, the UN Secretary General, António Guterres, warned, “We are on a highway to climate hell with our foot still on the accelerator.”
Today’s local activism on Croydon High Street was one of more than 100 protests outside Barclays branches across the country.
Barclays recently announced much higher-than-expected pre-tax profits of nearly £2billion for a single three-month period. Higher interest rates have helped increase Barclays’ profits, while seeing the cost of living soar for ordinary working people.
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