The new group will work with the sustainability and ESG team to coordinate and contribute to the company’s sustainability and climate change strategy
UK-based financial services company Barclays has launched a Sustainable and Impact Banking group to identify new clients and advise existing clients on sustainable growth strategy and finance.
Brian Reilly, who was previously chairman of global equity capital markets in banking, is appointed as the global head for the newly established Sustainable and Impact Banking.
Brian Reilly said: “Companies with a stated mission of addressing the world’s most pressing societal and environmental challenges are continually emerging in every sector.
“In parallel, established global companies are both integrating sustainability into their corporate strategies and looking to partner with innovative, start-up firms. Corporations across the world are embracing the idea that positive social impact goes hand-in-hand with shareholder returns.”
The Sustainable and Impact Banking group will work with ESG investors
The investment banking firm said that the new Sustainable and Impact Banking group is aimed at identifying and covering newly emerging growth companies, focused on sustainability or social impact, and to advise those companies on financing and strategic opportunities.
In addition, the new group will work with environmental, social and governance (ESG) investors to advise existing and new clients on ESG metrics and positioning.
The banking firm intends to build the new Sustainable and Impact Banking group based on its existing credentials in sustainable banking, advising on equity offerings and private placements for corporations, sustainability-linked credit facilities, and more than $57bn of green, sustainable or social bonds for clients.
Furthermore, the group will work with the sustainability and ESG team to coordinate and contribute to the company’s sustainability and climate change strategy, underlining the importance of sustainability across Barclays.
Barclays banking global head Joe McGrath said: “We believe that sustainability and social impact will be a significant area of growth in the years to come, and it is important for Barclays to identify and actively pursue areas of growth in the market in order to best serve our clients.
“Through the creation of a new coverage group dedicated to this rapidly growing universe of companies, Brian and his team will be able to leverage our existing expertise to provide the advice and financing that these companies need to accelerate their growth and scale up their impact.”
Barclays is an investment bank and financial services company organised into four core businesses – personal banking, corporate banking, wealth management and investment management.