Barclays launches new investment banking team focused on energy transition

Barclays has announced the creation of a new Energy Transition Group within its Corporate and Investment Bank. The group will be responsible for advising customers as they explore energy transition opportunities and supporting them on their path to net zero.

The new team, made up of industry sector experts within Barclays’ global natural resources, power, sustainability and impact investment banking team, will include: From hydrogen, carbon capture and renewable energy to nature-based , which includes expertise in a wide range of energy transition areas. The company says it will provide solutions, renewable natural gas, energy transition finance and more.

The new team will be led by Mike Cormier, who has been appointed global head of the Energy Transition Group, and will report to Cathal Deasy and Taylor Wright, global co-heads of investment banking. Mr. Cormier takes up his new role after leading Barclays’ energy business in the Americas from 2021.

Mr. Wright said:

“The evolving landscape of banking, capital markets and the impact on our customers is central to our medium- to long-term business strategy as we adapt to lower carbon expectations and a more turbulent market environment. “This new team will play a critical role in advancing our clients’ potential and ensuring the best outcomes for their needs, and Mike is the perfect leader to drive this forward.”

The creation of the new team follows Barclays’ goal in 2022 to drive $1 trillion in sustainable transition financing between 2023 and the end of 2030. The company announced in July that it had provided more than 87 billion pounds ($112 billion) in funding to date. Green finance is progressing toward its goals to date.

Dizzy said:

“At Barclays, we have long believed that the energy transition will effectively reshape the way businesses and the world think about the transition to net zero. This represents a strong opportunity for One Barclays to drive shareholder value, allowing us to further develop our ability to serve as lead advisors to One Barclays.”