National Trust Votes to Replace Barclays as Banking Partner

The National Trust voted overwhelmingly at its annual general meeting on Saturday to end its long-term relationship with Barclays and seek a new banking partner. The resolution passed with 53,256 votes in favor and 4,094 against, receiving support from the organization's board of trustees.

The Trust will launch a competitive tendering process for a new partner, requiring the bank to demonstrate a commitment to reducing the climate crisis and protecting biodiversity. While the board noted that the tender will remain open to major UK clearing banks to meet operational scale requirements, the move follows years of pressure from members who argued that Barclays' financing of the fossil fuel industry contradicted the Trust's mission to preserve nature and historic sites.

Barclays defended its energy financing practices, stating it has facilitated more than $300bn in transition and sustainable finance over the last three years. While campaigners seek a partner that matches the Trust's ethical standards, some critics, including the chair of Restore Trust, characterized the vote as a distraction from the organization's primary charitable purpose.