A tender with climate and biodiversity conditions

The National Trust Barclays banking vote was carried at the charity's annual general meeting on Saturday with the backing of its board of trustees, instructing the organisation to begin a competitive tendering process for a new banking partner. The result was 53,256 votes for and 4,094 against.

For the first time, the tendering process will centre on the condition that the new bank demonstrates a positive commitment to protecting biodiversity and reducing the human-induced climate crisis.

The board's supporting statement said the tender must remain open to the major UK clearing banks, because no such provider currently has the combination of cash handling capability, lending capacity, payments infrastructure and operational scale required for an organisation of the trust's size.

Board cautions the result is not binding

Sandy Nairne, deputy chair of the board of trustees, warned that the ballot does not compel the board.

He said the trustees will carefully consider the result alongside the discussion heard at the meeting as part of their future decision making.

Years of pressure over Barclays' fossil fuel links

The vote follows years of member pressure over Barclays' financing of the fossil fuel industry, which has been criticised for its support for oil and gas expansion, including fracking and methane gas infrastructure.

Drew James, a proposer of the resolution and a member of Christian Climate Action, said the result highlights a profound shift in NGO accountability.

James argued that civil society looks to charities, universities and faith groups to sever ties with financial institutions failing to match their ethical standards, and that it is contradictory for the organisation to hold its own banking provider to a lower standard than its suppliers and investment portfolio.

He quoted the trust's trustees as having declared climate change and the decline in nature the biggest threat to the places in its care, with the pace quickening. He also cited the chief executive identifying keeping fossil fuels in the ground as the most significant response to climate breakdown at a seminar during the Labour party conference.

James accused Barclays of undermining the trust's conservation mission by channelling billions of dollars into fossil fuel expansion, and supporters pointed to the trust's responsibilities under the National Trust Act 1907, which established its duty to preserve places of historic interest and natural beauty.

A Barclays spokesperson said it is a privilege to support and bank the National Trust and that the bank values their engagement on these important topics. Barclays said that over the past three years it has facilitated more than $300bn (£225bn) of sustainable and transition finance, including billions for cleaner energy projects in the UK, and has invested millions in climate tech.

Campaigners noted that the bank's annual report says fossil fuel entities can access the sustainability fund, provided the money is not designated directly for oil and gas activity. James said a carbon-intensity reduction, such as a switch from tar sands extraction to natural gas, could qualify for sustainability backing even if it results in a net increase in total carbon.

Climate impacts on trust properties and opposition

The vote came against a backdrop of climate damage to trust land: a wildfire at Dunwich Heath in Suffolk in July destroyed 104 hectares (256 acres) of ancient heathland, with campaigners estimating the damage would take 25 years to recover. Other trust properties have faced flash flooding, prolonged drought and increasingly severe weather.

Opposition came from Restore Trust, a group of National Trust members. Its chair, Cornelia van der Poll, called the vote a distraction from the National Trust's charitable purpose of properly maintaining all the historic buildings and countryside in its care.

Insiders suggested the tendering process will not take place for at least a year.