National Trust votes to end Barclays banking relationship
The charity will seek a new banking partner aligned with its environmental policies after member pressure over fossil fuel concerns.
At a glance
- National Trust members voted overwhelmingly to seek a new banking partner
- The board of trustees supported the resolution at the Saturday AGM
- Members cited Barclays' fossil fuel investments as incompatible with the charity's environmental mission
- A competitive tendering process will now begin for new banking arrangements
The National Trust has voted overwhelmingly to begin a competitive tendering process for new banking arrangements, ending its relationship with Barclays. The resolution passed at the charity's annual general meeting on Saturday with backing from its board of trustees.
Members have long argued that the partnership with Barclays conflicted with the National Trust's commitment to environmental protection, citing the bank's fossil fuel investments.
Why it matters
The vote reflects growing pressure on major institutions to align their financial partnerships with environmental commitments and fossil fuel divestment principles.
Original reporting
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