A complaint that a sustainable investment advertisement by Barclays Investment Bank was misleading - because it omitted significant information about the bank’s contribution to carbon dioxide and greenhouse gas emissions - has been rejected by the advertising watchdog.

The Advertising Standards Authority ruled the ad was a business-to-business marketing communication and was likely to be understood as such by its audience.

The ad was published in The Economist in September 2024.

The ASA ruled that the readership of The Economist, “were financially literate and concerned with current affairs, international business, finance, economics, politics, technology and culture.”

It said the readership, “would have understood the ad was promoting Barclays Investment Bank’s offerings and was not suggesting Barclays did not support clients in high-emitting sectors.”

Under the headline “POWERING a more sustainable future”, the ad stated: “Our team of experts provide a broad spectrum of strategic advice and financing solutions to clients across the energy value chain. From M&A to capital raises and risk management, we're helping power the transition to a low-carbon future”.

The ad included an image showing members of the team and their job titles, which included the Global Co-Heads of Barclays’ Sustainable Banking Group, the Global Head of Barclays’ Energy Transition Group and the Co-Head of Energy & Climate Technology.

Text beside a QR code stated: “Start Powering Possible with our insights on nature-based solutions”.

The ASA said the ad’s headline was not an absolute claim as it referred to “a more” sustainable future, and did not over-promise a total remedy, instead it was qualified by the reference to the, “broad range of strategic advice and financing solutions”.

It said the, “powering a more sustainable future” and the, “helping power the transition to a low-carbon future” claims would have been understood as meaning Barclays Investment Bank could help their business clients meet their own goals in transitioning to a lower-carbon future.

The ASA concluded: “As such, the omission of information to explain Barclays’ overall contribution to carbon dioxide and greenhouse gas emissions was unlikely to mislead.

“We investigated the ad under CAP Code (Edition 12) rules 3.1, 3.3 (Misleading advertising), and 11.1 (Environmental claims) but did not find it in breach.”