Citi has released its 2021 Environmental, Social and Governance report for 2021.
The annual report details Citi’s ongoing ESG initiatives including:
Accelerating Sustainable Finance: In early 2021, Citi made a $1 trillion commitment to sustainable finance, which includes a $500 billion goal for environmental finance and a $500 billion goal for social finance, aligning with the agenda of the United Nations’ Sustainable Development Goals. In 2020 and 2021, Citi financed and facilitated a total of $222 billion in sustainable finance activity globally, which puts the company well on track to meet its $1 trillion commitment by 2030.
Driving the Transition to a Low-Carbon Economy: Earlier this year, Citi unveiled its initial plan to reach net zero emissions by 2050, a commitment made on Jane Fraser’s first day as CEO in March 2021.
Maximizing Positive Social Impact in Emerging Markets: In 2021, Citi issued a first-of-its-kind $1 billion social finance bond to support social and economic development efforts that increase opportunity and access to essential basic services in emerging markets.
Deepening Efforts to Help Close the Racial Wealth Gap in the U.S.: Citi and the Citi Foundation invested $1 billion in strategic initiatives, just one year into the three-year commitment. Through the $200 million Impact Fund, Citi directed 68% of its 2021 asset allocation to companies founded by women and/or racially/ethnically diverse founders, which supports the Fund’s goal to help combat the gender and racial/ethnic gaps that exist in venture capital.
Increasing Affordable Housing in the U.S.: In 2021, Citi provided $5.64 billion in loans for affordable housing projects, making Citi the top affordable housing development lender in the U.S. for the 12th consecutive year, as published by Affordable Housing Finance.