Banking Sector Will Be Pivotal to Financing Europe’s €2.9 trillion Low Carbon Transition, Finds Accenture and Barclays Report

Long-term public policy and increased capital markets financing needed to bridge carbon capital chasm through 2020 across Europe

LONDON; Feb. 2, 2011– The banking sector will be pivotal to Europe’s low carbon transition, and will finance and intermediate the vast majority of the €2.9 trillion capital required to implement low carbon infrastructure, according to a report published by Accenture (NYSE: ACN) and Barclays (LON: BARC). Banks will play an increasing role in the financing of the transition, primarily through intermediating institutional capital, but stable and long-term government incentives and policies will remain critical.

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