Ethical Performance
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Barclay unveils new $150m global strategy

November 2007

One of the world’s biggest banks has finalized its first global community investment strategy.

Barclays, which operates in more than 50 countries and has more than 127,000 staff, is to invest $150million (£73m) in 1500 projects over the next five years.

It is making it possible for employees to volunteer a collective 150,000 hours of their work time each year on financial education, entrepreneurship, employment and financial inclusion projects.

Until now the bank’s community investment strategy has been fairly piecemeal. It says the new global programme, called ‘Banking on Brighter Futures’, will provide a framework for all community programmes and make sure they focus on issues that fit with its core concerns. The change will ‘extend the scope and scale of our activities significantly’.

Barclays teams in each country will identify Banking on Brighter Futures projects that fit in with the overall strategy but ‘reflect local needs’. They will then deliver on them in partnership with civil society groups.

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