Citi commits $100 billion to 'green'

As part of “a commitment to helping cities thrive during this period of unprecedented urban transformation,” global banking giant Citi (New York, NY) announced that it will commit $100 billion over the next 10 years to finance projects aimed at reducing the impacts of climate change and building sustainable communities. Citi said that its investments through this initiative will focus on GHG emission reductions, renewable energy and green infrastructure development, and improved water and waste management systems, among other projects and initiatives.

“For more than 200 years, Citi’s mission has been to enable progress by facilitating economic growth and financing transformative projects,” said Citi CEO Michael Corbat in announcing the new investment commitment.

“The core mission hasn’t changed, but the way we approach it has."
--  Mindy Lubber, president of the non-profit sustainability coalition CERES

"Incorporating the principles of sustainability into everything we do improves our own operations, enhances our clients’ work, and contributes to a better world.” Mindy Lubber, president of the non-profit sustainability coalition CERES (Boston, MA), which advised Citi on the new investment initiative, commented that “the financial services industry has a big role to play in scaling up global clean energy investments, and we applaud Citi’s leadership as the company continues to innovate and expand its efforts.”

For the full article, click here.