Global operations rely on fossil fuels, Barclays leader informs climate activists

Barclays chairman asserts global dependence on fossil fuels amid climate activist disruption at the annual general meeting

Nigel Higgins, Barclays chairman, stated that the world is presently unable to function without fossil fuels, despite the bank’s efforts to limit financing for energy companies and reduce emissions from its energy portfolio by one-third in recent years.

His remarks followed a group of climate change activists interrupting the bank’s annual general meeting with a rendition of a modified Spice Girls song, urging Barclays to cease financing fossil fuel projects.

The protesters sang: “Stop right now, no more oil and gas. Stop burning fossil fuels and end this madness. Hey you, burning up the earth… we’ve had enough.”

A demonstrator exclaimed, “Barclays funds climate chaos – people are dying right now. The largest funder of fossil fuels in Europe.”

Higgins responded, explaining that a straightforward exit from the sector would not be appropriate, as it fails to address energy security needs and the global issue of energy poverty.

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