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* Bank to offer advisory vote on climate policy
* Activists say bank not moving fast enough on fossil fuels
* Barclays to expand commercial bank business in U.S.,
Europe
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By Lawrence White and Iain Withers
LONDON, May 5 (Reuters) - Barclays will offer
investors a vote on its climate policy at next year's annual
shareholder meeting, the bank's chairman said, after pressure
from investors and activists to become greener.
Barclays will devise additional climate targets in
consultation with shareholders, chairman Nigel Higgins told the
bank's webcast shareholder meeting on Wednesday.
The bank in March last year set itself a target to reach
"net zero" for its own carbon emissions and the activities it
finances by 2050.
Despite these commitments, climate activists have said the
bank is not moving fast enough and requisitioned a motion at
Wednesday's shareholder meeting pushing the bank do more.
Barclays has advised shareholders to vote against the motion.
Barclays is the largest financier of fossil fuels in Europe
and seventh biggest globally, based on an updated report
published this year by U.S. pressure group Rainforest Action
Network.
Barclays said in comments published ahead of the shareholder
meeting that the Rainforest Action Network report focuses on
activity over the last five years, before the bank changed its
policy.
Last month, police arrested seven people outside the bank's
London headquarters after activists broke windows to protest
against the role of the financial sector in climate change.
A climate change motion put forward by investor group
ShareAction was defeated at last year's AGM but won 24% of votes
cast.
Barclays will also expand its commercial banking business in
Europe and the United States, Chief Executive Jes Staley said at
Wednesday's annual meeting, without giving further details.
(Reporting by Lawrence White and Iain Withers, editing by
Louise Heavens and Jane Merriman)
