Do investors want Barclays to keep financing fossil fuels?

Barclays presented SSGA with an ‘ambitious’ climate plan, but neither firm will say how it works

State Street Global Advisors, the world’s third largest asset manager, withheld its support from a shareholder vote intended to make Barclays comply with the Paris Agreement on climate change because it didn’t want the bank to “phase out” its financing of fossil fuels.

“If this resolution had passed and required them to phase out their financing, that could have meant that some investments would have to be sold off pretty much immediately,” says Rob Walker, State Street’s global co-head of