Barclays will devise additional climate targets in consultation with shareholders, chairman Nigel Higgins told the bank's webcast shareholder meeting on Wednesday.
The bank in March last year set itself a target to reach "net zero" for its own carbon emissions and the activities it finances by 2050.
Despite these commitments, climate activists have said the bank is not moving fast enough and requisitioned a motion at Wednesday's shareholder meeting pushing the bank do more. Barclays has advised shareholders to vote against the motion.
Barclays is the largest financier of fossil fuels in Europe and seventh biggest globally, based on an updated report published this year by U.S. pressure group Rainforest Action Network.
Barclays said in comments published ahead of the shareholder meeting that the Rainforest Action Network report focuses on activity over the last five years, before the bank changed its policy.
Last month, police arrested seven people outside the bank's London headquarters after activists broke windows to protest against the role of the financial sector in climate change.
A climate change motion put forward by investor group ShareAction was defeated at last year's AGM but won 24% of votes cast.
Barclays will also expand its commercial banking business in Europe and the United States, Chief Executive Jes Staley said at Wednesday's annual meeting, without giving further details.
(Reporting by Lawrence White and Iain Withers, editing by Louise Heavens and Jane Merriman)
By Lawrence White and Iain Withers
