Jupiter AM adds to fossil fuel transition pressure on Barclays

Will vote on shareholder resolution at 7 May AGM

Jupiter Asset Management has become the latest investor to put pressure on Barclays Bank to phase out the provision of financial services to the fossil fuel sector and utilities that are not aligned with the Paris climate goals.

Barclays, which is the "world's sixth largest backer of fossil fuels", with exposure of more than $27bn, according to lobbying charity ShareAction, has now seen a group of 11 institutional investors build a transition plan, including Amundi, EdenTree and the UK's largest pension fund Nest. ESG Blog: UBS AM sustainable ETFs exceed €10bn Jupiter, which has a 1.2% share in Barclays, is the latest to commit to supporting a shareholder resolution at the bank's 7 May AGM in efforts to force change. The resolution reads: "To promote the long-term success of the company, given the risks an...