Barclays Climate Ventures Unlocks £508M In Climate Tech

Barclays Climate Ventures has announced that it has catalyzed more than £508 million in investment into climate technology since 2020, marking a significant milestone in its efforts to accelerate the transition to a low-carbon economy. The details, unveiled in the group’s newly released 2024 impact report, highlight the bank’s strategic role in bridging the climate tech funding gap through a bold approach to catalytic capital and risk-sharing.

Since its inception, Barclays Climate Ventures has adopted a proactive investment strategy, leading or co-leading 61% of its deals. This leadership has enabled the organization to unlock additional funding, with £203 million of Barclays’ own capital successfully leveraging £305 million from third-party investors. This equates to a multiplier effect of £2.18 for every £1 Barclays has invested, demonstrating the potent influence of well-placed catalytic capital in accelerating the growth of climate innovation.

The initiative primarily addresses the “missing middle” of climate tech financing—a critical gap that exists between early-stage venture capital and late-stage infrastructure investment. Many climate technology companies face significant barriers during this phase due to high upfront costs, lengthy development timelines, and complex risk-return profiles that often deter conventional investors. Barclays Climate Ventures has positioned itself as a key actor in overcoming this challenge by adapting its risk appetite and deploying capital where it can have the most transformative effect.

“Through a willingness to adjust our risk appetite and take a new approach, we have been successful in catalysing investment into climate tech,” said Steven Poulter, Head of Barclays Climate Ventures. “We now call for more investors to join us on this journey.”

The report, with data independently validated by the Carbon Trust, underscores Barclays’ unique contribution to supporting the climate tech ecosystem, particularly in the UK. Poulter emphasized the strength of the domestic innovation landscape but warned that its full potential cannot be realized unless the persistent financing barriers are effectively addressed.

“The UK is home to a thriving climate tech ecosystem,” Poulter stated. “But to unlock the sector’s economic potential, we must find ways to address the financing gap that holds back their growth.”

Beyond financial investment, the impact of Barclays Climate Ventures is evident in the realm of job creation and economic development. Since 2020, the portfolio companies backed by Barclays have collectively created 1,309 jobs worldwide. Notably, 664 of these roles have been generated in the UK, highlighting the program’s contribution to national employment and skills development in the green economy. This job growth reflects the broader value of climate tech not just as an environmental solution, but also as a dynamic economic driver capable of supporting communities and industries in transition.

Looking to the future, Barclays Climate Ventures remains committed to its original mandate to invest £500 million in equity capital for climate tech startups over the period from 2020 to 2027. With more than £200 million already deployed and over half a billion in total investment catalyzed, the initiative is firmly on track to meet—and potentially exceed—its ambitious goals.

The firm envisions its role not merely as a financier but as a strategic enabler of the next-generation energy system. By supporting companies that are pioneering solutions in energy efficiency, clean transport, sustainable agriculture, and carbon removal, Barclays Climate Ventures aims to contribute meaningfully to the UK’s and the world’s climate targets.

In a related effort to deepen its impact, Barclays recently announced a three-year Agri-Climate Partnership with Oxford University, further expanding its reach into sustainable agriculture research and innovation. Initiatives like this underline the bank’s holistic approach to environmental impact—one that integrates financial capital, academic collaboration, and ecosystem building.

As the climate crisis continues to intensify, the need for scalable solutions and sustained investment becomes ever more urgent. The achievements outlined in the 2024 impact report demonstrate the power of catalytic capital to unlock private finance, stimulate innovation, and generate meaningful economic and environmental returns. With its growing track record, Barclays Climate Ventures is inviting more institutional and private investors to step up and co-create the future of climate tech—one that promises not just decarbonization, but inclusive, long-term prosperity.