Citigroup is to launch a new ESG business unit within its corporate and investment bank.

The new unit will be called the Sustainability & Corporate Transitions group and will be headed by Banking, Capital Markets and Advisory Chief Strategy Officer Bridget Fawcett. Citi says the move comes as the Covid crisis is set to will increase the importance of ESG to their clients as they focus on sustainable strategies and the transition to a net-zero emissions future.