Barclays sets net zero carbon target for 2050 after investor pressure

Bank pledges to align all of its financing activities with goals of Paris climate agreement

Barclays has bowed to investor pressure over its climate track record and announced plans to shrink its carbon footprint to net zero by 2050.

The bank, which has its headquarters in London, has pledged to align all of its financing activities with the goals and timelines of the Paris agreement, starting with the energy and power sectors, and to publish "transparent targets" to track its progress.