Barclays has made a renewable energy purchase that will reduce its carbon footprint by up to 125,000 tons of carbon dioxide per year – the equivalent to the emissions produced by 19,000 homes in the UK in the course of a year, the company reports.
Starting from April 2007, 50 percent of Barclays UK electricity consumption will come from renewable sources, compared to three percent previously, according to the company. Barclays UK offices including its Canary Wharf headquarters and major UK branches will be powered solely by renewable energy. Under the terms of the contract, Barclays will buy approximately 300 GWh of renewable energy per year for the next three years from EDF Energy.
“This three-year contract with EDF Energy is an important milestone which will help us to significantly reduce our carbon footprint,” said Andrew Flett, head of environmental management. “However, the greenest form of energy is the energy you don’t use and working to reduce our overall energy consumption remains our priority. ”