In mid-January, British investment bank Barclays announced the creation of a new group focused on energy transition. The purpose of the group is to provide strategic advice to its clients to explore the opportunities offered by this transition, according to a Barclays statement. The group is made up of specialists in the areas of energy, natural resources, and sustainable and impact investing, and its focus will include hydrogen, carbon capture, renewable energy and renewable natural gas, among others. According to Bloomberg, the new group will comprise around 100 specialists.

Barclays is following in the footsteps of other investment banks, such as Citigroup and BNP Paribassuch as Citigroup and BNP Paribas, which have set up special teams to advise their clients on the opportunities arising from the energy transition.

The research firm BloombergNEF estimates that by 2030, four times more financial resources will need to be allocated to green projects than to hydrocarbon projects in order to by 2030 it will be necessary to be allocating four times more financial resources to green projects than to hydrocarbon projects to be in line with zero emissions commitments by 2050However, there is still a long way to go: at the end of 2022 BloombergNEF estimated that this ratio was 0.7 to 1, similar to that of 2021. In the specific case of Barclays, however, that ratio was 1.5 to 1, according to the research firm.