(Alliance News) - Lender Barclays PLC on Monday set out its new climate policy and said that it aims to become a net zero emitter of carbon dioxide by 2050 and will align all financing activities with the goals and timelines of the Paris Agreement on climate change.
"The alignment of Barclays' portfolio will start with the energy and power sectors, and will cover all sectors over time. Barclays will provide the transparent targets required to judge its progress and will report on them regularly, starting from 2021," the FTSE-100 listed company said.
Over the coming months, the bank plans to engage with its shareholders and other stakeholders, including the Investor Forum and ShareAction, to develop its climate strategy and targets. Barclays intends to provide more details on its strategy and targets by the end of 2020.
Shares in Barclays were down 4.0% at 93.46 pence each in London on Monday morning.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Barclays (BARC)
