Key facts
- The National Trust's members voted 53,256 for and 4,094 against seeking a new banking partner.
- The resolution instructs the charity to begin a competitive tendering process for its banking arrangements.
- The tender will center on a requirement that the new bank demonstrate a positive commitment to biodiversity and climate action.
- The board said the tender must remain open to major UK clearing banks, as no specialist ethical bank meets its operational needs.
- Barclays said it has facilitated more than $300bn (£225bn) of sustainable and transition finance over the past three years.
- Insiders suggested the tendering process will not take place for at least a year, according to the report.
The National Trust voted overwhelmingly at its annual general meeting on Saturday, November 7, 2026, to seek a new banking partner, in a victory for members who argued its relationship with Barclays conflicted with its environmental commitments. The resolution, backed by the board of trustees, instructs the charity to begin a competitive tendering process for its banking arrangements.
The process will, for the first time, center on the condition that the new bank demonstrates a positive commitment to protecting biodiversity and reducing the human-induced climate crisis. The vote was 53,256 for and 4,094 against.
Campaigners said the result sent a message that charities should apply the same environmental standards to their financial relationships as they do to their investments and suppliers. But others questioned the significance of the success, with insiders suggesting the tendering process will not take place for at least a year.
Drew James, a proposer of the resolution and a member of Christian Climate Action, said: "This result highlights a profound shift in NGO accountability." He added: "Civil society looks to charities, universities and faith groups to sever ties with financial institutions failing to match their ethical standards."
The move follows years of pressure from members concerned about Barclays' financing of the fossil fuel industry. The bank has been criticized for its support for oil and gas expansion, including fracking and methane gas infrastructure, while the National Trust has repeatedly identified the climate emergency and the decline of nature as the greatest threats to the landscapes, wildlife and historic properties in its care.
The vote comes as the trust faces mounting consequences of extreme weather across its portfolio. 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.
The National Trust has made clear that the tender will not be restricted to specialist ethical banks. In its supporting statement, the board said the tender "must remain open to the major UK clearing banks". It added that no specialist ethical bank currently has the combination of cash handling capability, lending capacity, payments infrastructure and operational scale required to support an organization of the Trust's size and complexity.