Barclays sets 'net zero' goal by 2050 in climate policy

LONDON, March 30 (Reuters) - Barclays bank has set
a goal of becoming a 'net zero bank' in terms of its own carbon
emissions and the activities it finances by 2050, the lender
said on Monday.

The British bank said it would provide targets to judge its
progress and report on them regularly, starting in 2021.

Barclays had faced criticism from investors ahead of its
annual general meeting in May for having a weaker climate policy
than some rivals.

Responsible investment lobby group ShareAction tabled a
resolution ahead of the meeting aimed at cutting its lending to
the fossil fuel industry.

Barclays said on Monday that it would table a resolution on
its new climate policy and expected ShareAction and other
investors behind its motion to back the board's resolution.
(Reporting by Iain Withers, editing by Huw Jones)