Barclays has pledged to invest £500 million in climate technology start-ups by 2027 through its Climate Ventures arm. The British banking giant has already allocated £203 million to climate-focused companies globally since 2020.
The Climate Ventures division focuses on early- and growth-stage firms developing clean technologies and renewable energy solutions aimed at tackling climate change. Barclays claims its investments have helped attract a further £305 million from other investors, catalysing over £500 million in climate tech funding within five years. The bank states that every £1 invested has, on average, drawn in an additional £2.18.
Steven Poulter, head of Barclays Climate Ventures, highlighted the need to address the “missing middle” in climate financing — a gap where promising ventures struggle to secure backing due to the high risks and long lead times associated with returns. “We see an opportunity where others see risk,” Poulter noted.
