Young people occupy Barclays over its financing of genocide and climate breakdown

A group of half a dozen young activists staged a third peaceful sit-in at the Bristol Broadmead branch of Barclays Bank. It follows similar protests against the bank in October and December last year.

Barclays: wrecking the planet

Activists from Extinction Rebellion Youth Bristol (XRYB) entered the bank branch at around 10am on Saturday 15 February with the aim of engaging customers about what they see as the problems with Barclays, and to encourage them to stop banking there:

The protests staged by XRYB previously drew significant public attention and customer interest.

The action by XRYB coincided with a vigil by Cristian Climate Action Bristol (CCA) in protest against the bank, resulting in a significant activist presence both inside and outside the Bristol branch.

Rather than making demands of Barclays who are a global financial superpower, ranking in the top five largest European banks, the XRYB activists are seeking to increase customer awareness of how the bank invests its money, and of alternative banks that XRYB consider preferable.

Barclays are a significant global investor in fossil fuels, at a time when a rapid transition to renewable energy is essential in the face of the climate crisis. Barclays is ranked the number one investor in fossil fuels in Europe, and seventh biggest in the world, having financed around $167 billion in fossil fuels between 2015 and 2021. It is also the 4th biggest financer of Arctic fossil fuel extraction.

As well as its destructive fossil fuel funding, Barclays is a major financer of the global arms trade. This includes funding the sale of weapons to be used in Yemen and major investment in arms companies whose technologies are being used for genocide in Palestine.

According to Palestine Solidarity Campaign, Barclays bank now holds over £2 billion in shares, and provides £6.1 billion in loans and underwriting to companies used by Israel against Palestine.

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A young person from XRYB expressed their concern over Barclays’ investment policies:

Barclays is a major investment bank and currently has over a billion pounds of investments in companies whose weapons, components, and military tech have been used in unlawful violence against Palestinians. They are also a significant investor in fossil fuels, so are not only funding the deaths of Palestinian people but are also sacrificing our planet’s future for profit.

Bella, another XRYB member, appealed to those who bank there:

You have the power to make a difference. Historically boycott, divest, and sanction tactics work to make change, such as in the cases of racist practices in Bristol bus networks and against South African apartheid. Barclays are using your money to fund genocide and using the profits to make themselves richer. They are not your friends. There are numerous alternative banks such as Triodos, Nationwide, and Monzo who will use your money more responsibly and even offer better value!.

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