Stop proper now: Singing protesters disrupt Barclays shareholder assembly
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nvironmental protesters have brought on main disruption at banking big Barclays’ annual assembly for shareholders in central London.
Chairman Nigel Higgins grew disgruntled after protests broke out minutes into the annual common assembly (AGM), main safety to take away a number of folks from the venue and the assembly to be quickly halted.
Singing a model of the Spice Girls’ Stop, a bunch 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.”
Mr Higgins ultimately responded: “Obviously we are very happy to hear opinions of what we do but maybe better to wait for the Q&A and have a two-way discussion.”
Money Rebellion, a subsidiary of Extinction Rebellion, was among the many groups of activists interrupting the assembly with shouts, songs and rhymes.
Several protesters continued to halt the assembly by standing up and shouting concerning the financial institution’s impression on local weather change and financing of fossil gasoline corporations.
One shouted: “Barclays funds climate chaos – people are dying right now. The largest funder of fossil fuels in Europe.”
Another protester was carried out of the constructing for refusing to maneuver, along with his shouts drowned out by Barclays’ firm secretary Hannah Ellwood, who continued to run via the agenda.
At least two ladies have been faraway from the venue by safety after holding up banners and shouting: “Barclays funds climate chaos.”
Mr Higgins repeatedly requested folks to be eliminated and “shuffled out” of the assembly and was audibly sighing throughout interruptions and repeated questions.
During the question-and-answer part of the AGM, Barclays’ administration group was pressed over its local weather insurance policies and determination to not finish financing the enlargement of oil and gasoline fields.
Mr Higgins was clear in his response: “The world at the moment cannot function without fossil fuels.”
He mentioned the financial institution had restricted its financing of vitality corporations and decreased emissions from its vitality portfolio by a 3rd over the previous couple of years.
Mr Higgins added: “We don’t believe that a simple exit from the sector is the right thing to do because it doesn’t square with the other requirements for energy security… and meeting the demands as a consequence of energy poverty around the world.”
One campaigner, who didn’t give her identify, responded: “This isn’t real. What’s real is record-breaking temperatures in the world’s oceans, crops failing around the world and a third of humanity in record-breaking heat in 12 countries in Asia. That’s real.
“I don’t know if you feel that your privilege is going to protect you, Nigel, but it isn’t.”
Later, questions on the financial institution’s local weather coverage have been fielded by Mr Higgins, as he mentioned “we have answered this already”.
Elsewhere within the assembly, Barclays chief government CS Venkatakrishnan, often known as Venkat, assured shareholders the banking big has been “insulated” from the latest volatility within the world banking sector.
He referenced the latest failures of Silicon Valley Bank and First Republic Bank within the US, and Credit Suisse.
He mentioned the group has robust danger administration, strong liquidity and a prudent strategy to lending.
“And these have insulated Barclays from the volatility which we have seen in markets, and have enabled us to continue to support our customers and clients through an uncertain period.”