by Nour Bundogji
Citi, the leading global bank, announces a sustainability strategy that should last for over ten years— $100 billion for lending, investing, and facilitating sustainability solutions. This eye-popping financial commitment is part of Citi’s five-year plan that was launched by CEO Michael Corbat in New York last week. “It includes three strategic priorities that align the company’s corporate and sustainability strategies: combating climate change, championing sustainable cities, and promoting social progress, including universal human rights” reports Joel Makower from Greenbiz.com who sat down with Val Smith, Citi’s director of corporate sustainability. Furthermore, Corbrat informed Mary Lubber at Forbes.com that this strategy will include “financing for large renewable-energy projects such as municipal infrastructure to reduce water waste; assistance for clients to address environmental risks; and an 80 percent absolute greenhouse gas reduction target.” Continue reading