Norway wealth fund to back AGM resolution to make Barclays a ‘net zero’ bank

OSLO (Reuters) – Norway’s sovereign wealth fund will vote in favour of a resolution committing Barclays to tackling climate change at the bank’s annual general meeting on May 7, the fund said on Friday.

The resolution calls on Barclays to be a “net zero” emissions bank by 2050, to set a strategy for transitioning its provision of financial services to align with the goals and timelines of the Paris Agreement, and to report annually on progress.

The fund held a 2.94% stake in Barclays worth $1.2 billion at end-2019, according to fund data.

(Reporting by Gwladys Fouche; editing by David Evans)