Citi Group



Financial Services



388 Greenwich Street
New York, NY 10013





204,000 employees


Valerie Smith





Report created by Muge Acar

Citi Group

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Citigroup, Inc. is a global financial services holding company specializing in banking and financial solutions.

It offers a range of products and services among individuals, corporations, governments and institutions such as savings, checking, online banking, individual retirements accounts, credit cards; personal, student, and commercial real estate loans, cash management services, home equity, and bill consolidation, as well as online banking services, cash management, transactions, trade, securities, and fund services.

It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate/Other.

Citi’s mission is to serve as a trusted partner to their clients by responsibly providing financial services that enable growth and economic progress.

Their core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of their clients.

They have 200 years of experience helping their clients meet the world’s toughest challenges and embrace its greatest opportunities. They are Citi, the global bank – an institution connecting millions of people across hundreds of countries and cities.

They work with companies to optimize their daily operations, whether they need working capital, to make payroll or export their goods overseas. 

They provide financing and support to governments at all levels, so they can build sustainable infrastructures, such as housing, transportation, schools and other vital public works.

These capabilities create an obligation to act responsibly, do everything possible to create the best outcomes, and prudently manage risk.

Citi strives to earn and maintain the public’s trust by constantly adhering to the highest ethical standards.

Company Sustainability Activity

According to Citi, their sustainable progress is driven by their commitment to advance solutions that address climate change around the world in support of the transition to a low-carbon economy.

Recognizing the need for urgent action, they have set out their 2025 Sustainable Progress Strategy focused on the low-carbon transition, climate risk and sustainable operations.

Sustainability — including efforts to address climate risks — is a factor in how they do business to support growth and enable progress. Combating climate change is one of the main themes of their five-year Sustainable Progress Strategy that sets out business drivers for sustainability. 

Under Citi’s Sustainable Progress Strategy, their sustainability activities are organized under three primary pillars, each of which relates directly to their efforts on climate change: 

  • Environmental Finance 
  • Environmental and Social Risk Management 
  • Operations and Supply Chain

Their work across these pillars is interrelated, and they look for innovations and best practices that can drive cross-functional progress. 

Stakeholder engagement and reporting have long been central to their sustainability efforts, and they will continue to emphasize transparency and open engagement with clients, investors, suppliers, employees and stakeholders as the foundation of their sustainability strategy, including as that strategy relates to climate change.

Citi’s participation in the United Nation Environment Finance Initiative (UNEP FI) pilot, and this resulting report, are an important part of their efforts to enhance transparency and engagement with investors as they evaluate different approaches to climate risk assessment and the sensitivity of their lending portfolios to potential climate risks.

While the efforts described in this report represent only an initial sensitivity analysis — which was useful as much for the gaps it identified as for the resulting outputs — they have prepared this report as a part of Citi’s commitment to ongoing transparency in the evaluation of sustainability issues, including climate risks and opportunities.


    • $194 Million invested by the Citi Foundation in tackling youth unemployment through Pathways to Progress (2017-2019)
    • $150 Million in funds to invest in socially-minded startups and companies that strive to have a positive impact on society launched in 2020
    • $1 Billion in lending toward financial inclusion across the globe over the last decade
    • $164 Billion financed and facilitated in environmental finance activity, exceeding their 10-year, $100 Million goals four years early (2014-2019)
    • $6 Billion in loans for affordable housing projects provided in the U.S., making Citi the largest U.S. affordable housing lender for the 10th consecutive year


By 2025:

  • Citi group is aiming to reduce 45% of GHG emission
  • Citi group is aiming for a 40% reduction in energy consumption and maintaining 100% electricity sourcing.
  • The company is aiming to have a 30% reduction in total water consumption and 25% of water consumed to come from reclaimed/ reused sources
  • They have a target of 50% reduction in total waste and 50% of waste diverted from landfill
  • Citi group will have 40% of their floor area to be LEED, WELL or equivalent certified, with a focus on City-owned buildings to operate at the highest level of sustainability
  • Invest 100 billion dollars  in environmental finance activities to reduce the impacts of climate change and enable positive environmental impact. 

By 2021:

  • Citi plans to improve the representation of women in assistant vice president to managing director level roles to at least 40% globally


Environmental Impacts

  • Citi group reached their goal of investing $100B in environmental finances in 2019 and surpassed their goal by investing a total of $164B in:

→ $8.4B in sustainable transportation
→ $122.1B in renewable energy
→ $22.1B in public finance
→ $24.3B in green bonds
→ $4.6B in green building
→ $13.1B in water quality and conservation

  • Citi group avoided 11.8M mt tons of CO2e emission.
  • Citi group supported 198k jobs directly or indirectly.
  • Citi group served 95M population in U.S. cities and counties by water-quality projects.
  • 6,792 families were served by green affordable housing with help of Citi group.
  • Companies renewable energy grew to 6869 MW.

Social Impact

  • Citi has partnered with the U.S. International Development Finance Corporation (DFC, formerly known as OPIC) to expand microfinance loans to women in emerging markets around the world.
  • Since launching in 2008, more than 129,000 women have received over $1.4 billion in microloans through this program to start and grow their businesses — with 99 percent repayment. 
  • In 2019, Citi announced the expansion of Empowered Cities, a landmark initiative designed to advance financial inclusion and economic opportunity for people with disabilities, many of whom live on lower incomes.
  • Citi’s $2 million commitment will expand the initiative to Boston, Chicago, Los Angeles and San Francisco, building on the existing partnership with the City of New York and the National Disability Institute. 
  • The Citi Foundation’s Pathways to Progress initiative is designed to help close the job-skills mismatch by providing young people with the tools they need through training, work experience and entrepreneurial opportunities.

Since 2014 the Citi Foundation,
Has invested more than $194 million to impact the lives of youth globally
→ They’ve created or expanded 32K youth-led businesses
→ Mentored 370K young people
→ Served 850K Youth

  • In their goal to have equal pay between genders their median pay between women and men rise from 71% to 73% from 2018 to 2019.
  • In 2019, they became a signatory to The Business Coalition for the Equality Act, to support federal legislation to provide the same basic protections to LGBT+ people as are provided to other protected groups under federal law.


  • LEED

UN Sustainable Development Goals

UN SDGs Compliance


  • At Citi, they approach the issue of gender equality and women’s economic empowerment through a range of programs that dovetail with their work on other development issues.
  • Citi’s Inclusive Finance team addresses access to finance for women entrepreneurs, and the Citi Foundation’s Pathways to Progress program works with partners to accelerate access to quality job opportunities and provide financial and leadership training to the next generation of female leaders. Diversity and inclusion are strategic priorities for Citi, and gender diversity is a key focus.
  • They are working to promote greater gender equality within their company and in their supply chain through dedicated leadership and diversity programs.
  • Currently, only 1% of corporate procurement contracts globally are awarded to women-owned businesses.
  • Citi has an inclusive supplier program that is working to increase their spend at women-owned businesses.
  • They recently partnered with UN Women to publish a corporate guide to gender-responsive procurement called The Power of Procurement: How to Source from Women-Owned Businesses, a publicly available resource that shares knowledge and best practices on how corporations can increase the procurement of goods and services from women-owned businesses, with practical tools and techniques to develop more diverse supply chains.
  • As an extension of their partnership with UN Women, Citi has been invited to participate in a public-private coalition launching September 2017 at the United Nations General Assembly called the Global Innovation Coalition for Change. This 20-member coalition is being created to better leverage the full potential of innovation, technology and multi-stakeholder partnerships to catalyze change for women and girls across the globe. Yolande Piazza, Global Head of Citi FinTech, will represent Citi during the inaugural term.

SDG 7, SDG 13

  • Citi has pledged to lend, invest and facilitate $100 billion toward activities that reduce the impacts of climate change and create environmental solutions in collaboration with their clients.


  • At Citi, they recognize that youth employment is intrinsically linked to the financial success of young people and to the future vitality of their cities and communities. Left unaddressed, youth unemployment will continue to have significant negative ripple effects on the economy.
  • In response to this challenge, Citi and the Citi Foundation have been focused on preparing today’s young people to be the most employable generation yet.
  • In 2014, the Citi Foundation launched Pathways to Progress, a three-year, $50 million commitment to boost the employability of 100,000 young people in 10 major U.S. cities.
  • Citi Foundation expanded the commitment with an additional $100 million to reach 500,000 youth worldwide by 2020. This latest investment, announced in early 2017, is the largest philanthropic commitment in the history of the Citi Foundation. To reach the goal, the Citi Foundation is partnering with a range of organizations — from nonprofits to universities to municipalities — to help young people build skills, expand their networks and become career-ready through first jobs, internships, and leadership and entrepreneurship training.
  • As part of Pathways to Progress, they’re leveraging the time and talents of 10,000 Citi employee volunteers.

SDG 8, SDG 9

  • Citi employs a range of approaches to develop tailored solutions for these markets—an area they know they need to continue to expand.
  • Their dedicated Inclusive Finance team works across Citi’s businesses globally to identify solutions to expand financial access.
  • They deploy mobile payment platforms that allow individuals and small and micro-business owners to better manage cash flows and improve financial outcomes.
  • They invest in companies and initiatives that expand access to finance in underserved markets around the world and support the financial integration of migrants and immigrants in the U.S.

SDG 9, SDG 11

  • Globally, an estimated $59 trillion in infrastructure investment will be needed over the next 15 years to replace aging facilities and keep up with population growth and economic development. Citi’s success in financing solutions to urban problems positions them well to help public institutions around the world meet today’s needs while also planning for a changing future.
  • They partner with governments, businesses and communities to identify and implement innovative solutions that help cities thrive during this period of unprecedented urban transformation.
  • This approach, which they call Citi for Cities, leverages the powerful combination of their expertise in a wide range of areas such as bond issuances, digital payments and risk management to help urban leaders secure financing for infrastructure projects, find internal efficiencies to free up valuable resources, and leverage new technologies to automate and streamline service delivery.

SDG 13

  • From renewable energy and energy efficiency projects to green buildings, sustainable transportation and green bonds, they’re working together with clients in both the private and public sectors to address the challenges of climate change and the increasing global pressures on natural resources.
  • At the start of 2015, Citi’s $100 Billion Environmental Finance Goal was announced publicly by their CEO Mike Corbat at a stakeholder meeting that launched their Sustainable Progress Strategy.
  • The 10-year goal, which begins with their 2014 environmental finance activity, was achieved at the start of 2017— in under four years—thanks largely to the unprecedented growth of renewable energy finance and green bonds. They decided to challenge themselves, however, by reexamining the way they account for their environmental financing activities on behalf of their clients.
  • As a result, they adopted a new methodology based on league table accounting that counts Citi’s share of a given transaction, rather than the total deal value. Based on their new approach, Citi’s share of environmental financing activities totalled $41.2 billion from 2014 through 2016. This reflects their unwavering commitment to addressing climate change through their business as well as their willingness to learn and adapt as the field of environmental finance evolves.

SDG 16

  • Citi’s T4I Challenge also directly impacts SDG 16, including targets 16.5, substantially reduce corruption and bribery in all their forms, and 16.6, develop effective, accountable and transparent institutions at all levels.
  • Corruption costs trillions of dollars every year. New information and communication technologies have helped expose the extent of corruption worldwide, and collaborative and innovative efforts like the T4I Challenge support progress toward achieving this critical Global Goal.


Citigroup, a banking and financial solutions company, tries to address climate risks through a five-year sustainable progress strategy.

Their progress is marked by initiatives to offset their carbon emissions through renewable energy certificates (RECs), holding an LEED certificate, and through their compliance with some of the UN SDGs. 

Citi is a facilitator of the Oil and gas industry which greatly impacts the environment negatively and contributes to air pollution. In November 2020 Citi Group has hired four new bankers to work on buying and selling oil and gas acreage.

Despite their progress in other areas, Citi’s contribution to the fossil industry results in a D rating.

Analyst Outlook: Negative

The company is a facilitator of the Oil and gas industry which greatly impacts the environment negatively and contributes to air pollution.

Key Points

  • Citigroup announced a $100 billion clean energy target as its ten-year sustainability financing commitment, but made no promises to reduce its exposure to fossil fuels, despite being the number one financier of coal-fired power in the United States.
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