Barclays Powers Net Zero with Energy Transition Group
Barclays has introduced a new Energy Transition Group within its Corporate and Investment Bank, aiming to offer strategic guidance to clients exploring potential opportunities in the energy transition.
Cathal Deasy, Global Co-Head of Investment Banking, says Barclays' belief in how the energy transition will reshape perspectives on moving towards net zero.
The establishment of this group aligns with their commitment to better serve as a lead advisor in the energy and power sectors, providing a valuable opportunity to create value for shareholders.
The team will consist of industry specialists from Barclays' global Natural Resources, Power, and Sustainable and Impact Investment Banking teams, forming a centre of excellence with expertise in various aspects of the energy transition, including hydrogen, energy transition finance, carbon capture, renewables, nature-based solutions, and renewable natural gas.
Mike Cormier has been appointed as the Global Head of the Energy Transition Group, bringing over 20 years of experience in supporting clients in the Power and Energy sectors. He will report directly to Cathal Deasy and Taylor Wright, Global Co-Heads of Investment Banking, and work closely with Daniel Hanna, Global Head of Sustainable Finance.
Taylor Wright stresses the importance of adapting to lower carbon expectations and a disrupted market landscape. The new team is seen as a critical part of Barclays' strategy to empower possibilities for clients, with Mike leading the way in driving these efforts forward.
Barclays, being among the first global banks to declare a 2050 net-zero ambition, is dedicated to reducing financed emissions in line with this goal. The bank has set a target to facilitate $1 trillion of Sustainable and Transition Financing between 2023 and the end of 2030, addressing the long-term Green, Social, Transition, and broader Sustainable Financing needs of clients.
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