Citi Deploys $100 Billion on Clean Energy

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