Citibank 2015 Annual Report Download - page 16

Sustainable Progress:
$100 Billion Environmental
Finance Goal
Business activity, such as renewable
energy banking and finance and
commodity hedging, counts toward
our $100 billion environmental finance
We remain committed to deploying the
resources of Citi and the Citi Foundation
to catalyze innovative solutions and
positive measurable outcomes. Issues
core to Citi’s citizenship efforts include:
Sustainable Progress
Citi continues to advance our goal to
lend, facilitate and invest $100 billion
in environmental and climate change
solutions over the next 10 years. In
2015, we increased our momentum
toward meeting this goal and engaged
in a record number of transactions with
our clients. These new efforts build on
a previous goal made in 2007 to direct
$50 billion to climate-friendly projects
over 10 years, which we met three years
early in 2013.
These efforts are part of our
Sustainable Progress strategy that
includes environmental and social risk
management and sustainability goals for
Citi’s own businesses and operations.
Citi has established new environmental
footprint goals for 2020, including
35 percent reduction in greenhouse gas
(GHG) emissions, 30 percent reduction
in energy and water use, and 60 percent
reduction in waste, all against a 2005
baseline. We also used a science-based
approach to set a longer-term 2050
GHG emissions reduction goal of 80
percent and plan to seek LEED Platinum
certification for our global headquarters
at 388 Greenwich Street in New York City.
Environmental and social risk
management remains a key priority and
policy, and standards will continually
evolve in response to emerging risks and
new product development.
Citi for Cities
Around the world, local governments
are looking for partners to address
entrenched challenges to urban
progress and help them provide tools
and solutions to connect citizens to
services. Through supporting modern
infrastructure, stimulating local
economies, enabling public services
to run smoothly and efficiently, and
supporting residents to attain financial
success, Citi is working to build
economically vibrant and inclusive cities
and communities.
Citi increased small business lending in
the U.S. to more than $10 billion in 2015,
raising lending over the last four years
to nearly $38 billion. We financed more
affordable housing than ever, providing
$4.8 billion in financing in 2015.
We are in our second year of our three-
year, $50 million Pathways to Progress
initiative to provide 100,000 low-income
young people with opportunities to
develop workplace and leadership skills
critical to competing in a 21st century
economy. With the active support of
more than 1,000 Citi volunteers to date,
70,000 young people across 10 U.S.
cities already have benefited from the
program. In 2015, Pathways to Progress
expanded globally with the launch of
new research connecting the future
competitiveness of 35 global cities and
investments made to help youth foster
the skills and networks needed
to succeed.
Citi continues to expand Cities for
Citizenship, a program originally
launched in 2014 with the mayors of
Chicago, Los Angeles and New York
Citizenship
Citi is focused on
enabling progress
in the communities
in which we work
and live. Together
with companies,
governments and
institutions of all
shapes, sizes, scale and
scope, we lend, facilitate
and invest in products
and services that power
the global economy.
We also recognize
that we can play an
important role in
working with others to
address key social and
economic challenges
facing clients and
communities.
goal to lend, facilitate and invest $100
billion toward activities that reduce the
impacts of climate change and create
environmental solutions that benefit
people and communities.
In 2015, Citi provided construction
financing, tax equity and the commodity
hedge to affiliates of Alterra Power
Corp. and Starwood Energy Group
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