Green Power Partnership
|Location||New York, NY|
|Organization Type||Banking & Fin. Srvcs.|
|Percentage Green Power||10.6%|
|Purchasing Third-Party Certified Green Power Product?||Yes|
|Environmental Web Page|
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citi has established a comprehensive set of practices around sustainable business.
In 2003, Citi was one of four international banks behind the creation of the Equator Principles, now the industry standard to ensure that large project finance deals -- such as dams, power plants, and pipelines -- mitigate damage the environment. In 2010, Citi was elected Chair of the Equator Principles Association, guiding the network through its first strategic review. Citi’s Investment Bank also has an expanded Environmental and Social Risk Management Policy that applies beyond Project Finance.
Citi is also committed to financing climate positive activity. In 2007, Citi announced its intent to direct $50 billion in financing towards the renewable energy and clean technology sectors over 10 years. Citi has mobilized over $30 billion as part of this initiative to date, and has recently focused on providing support for energy efficiency finance. In 2011, Citi became one of the founding Financial Allies of the Obama Administration’s Better Buildings Challenge and is pursuing at least $500 million in financing for energy efficiency projects as part of the initiative.
Since 2003, Citi has been monitoring and reporting its greenhouse gas emissions and working toward reducing those emissions at all of its facilities worldwide and made its first purchase of certified green energy in 2004. Citi has committed to reduce the greenhouse gas emissions from its own buildings globally 10 percent by the end of 2011, and has expanded on that with a goal to reduce GHG emissions by 25 percent by 2015. Other goals to be met by 2015 include reducing waste to landfill by 40 percent, reducing water usage by 20 percent, increasing percentage of Leadership in Energy and Environmental Design (LEED) certified space to 15 percent and improving portfolio energy efficiency by 20 percent. Citi was also the first company in the world to have 100 retail locations LEED certified and built the world’s first LEED Platinum certified data center located in Frankfurt, Germany.