Oklahoma’s list of investment banks determined to be “boycotting” the fossil fuel industry expanded with the addition of Barclays, making it ineligible for state and local government contracts, State Treasurer Todd Russ announced Friday.
Barclays joins
“The third installment of this list shows progress in the state contending with companies targeting Oklahoma industry and ultimately Oklahoma jobs,” Russ said in a statement.
It added that Barclays was involved in direct financial boycotts of energy groups.
“They are targeting coal mining and power companies stating that ‘from 2024 we will no longer provide project finance, or other direct finance to energy companies, for new upstream oil and gas projects or related infrastructure,'” the statement said. ”By January 2025, Barclays PLC ‘expect[s] all energy groups to produce transition plans and decarbonization strategies’ far exceeding Oklahoma’s requirements.”
Barclays declined to comment. It led a $230.46 million Board of Regents of the University of Oklahoma
In January, the bank
A study
An effort to apply the act only to state agencies failed in the state legislature.