Citi Reports $100 Bln, 10-Year Commitment To Finance Sustainable Growth

(RTTNews) - Citi (C) announced a landmark commitment to lend, invest and facilitate a total of $100 billion within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities.

Citi's previous $50 billion goal was announced in 2007 and was met three years early in 2013.

With this $100 billion initiative, Citi will build on its leadership in renewable energy and energy efficiency financing to engage with clients to identify opportunities to finance greenhouse gas reductions and resource efficiency in other sectors, like sustainable transportation.

Citi will seek to finance and support activities that enable communities to adapt to climate change impacts and directly finance infrastructure improvements that increase access to clean water and manage waste. It will also support green, affordable housing for clients, including in low- and moderate-income communities.

According to the company, this environmental finance initiative is part of a new five-year sustainability commitment that also focuses on environmental and social risk management and sustainability goals for Citi's own businesses and operations.