Tuesday 31 March 2020

Barclays commits to becoming net zero by 2050

Barclays has set plans to cut its greenhouse gas emissions to zero by 2050 and will provide funds to projects aligned with the Paris Agreement goals.

The bank says it will report on the progress of the 'transparent targets' regularly from 2021, will increase existing targets for green financing, invest in green innovation and partner with the Blue Marine Foundation to help protect the ocean.

Nigel Higgins, Barclays' Chairman, said: "Our new ambition to be net zero and our commitment to aligning our financing portfolio across all sectors to the goals of the Paris Agreement, will mean we can play much more of a leading role in meeting the climate challenge and in financing the energy transition."