Commercial, Energy Efficiency, GHG Emissions, Commercial, Finance, Solar, Wind - May 31, 2016
Citigroup deployed $47.6B in environmental finance in 2015, cut its own energy use 22%
Marking progress toward previously announced goals, Citigroup recently reported that it participated in $47.6 billion of environmental finance activities in 2015 globally.
According the company's global citizenship report, $20.9 billion of that total, or 44%, was deployed in North America.
The updated figures, combined with its 2014 activities, bring Citigroup's total to $71.2 billion toward its previously announced goal "to lend, invest and facilitate $100 billion over 10 years towards activities that reduce the impacts of climate change and create environmental solutions."
The banking behemoth attributed most of that $71.2 billion — $31.7 billion, or 45% — to what it labeled "multiple categories," comprised of transactions such as green bonds and yieldcos activity that bundled together multiple environmental technologies. Past that, the next largest sum went to wind, $17.5 billion or 25% of the total, then solar, $9.4 billion or 13% of the total.
Citigroup also touted its progress toward energy use and carbon emission reductions throughout its more than 12,000 owned and leased facilities globally., and absolute Scope 1 and Scope 2 greenhouse gas emissions by 25%, according to the report. The company also obtained LEED certification for more than 16% of its portfolio,.
The company's new, 2020 goals call for its facilities call for a 35% reduction in greenhouse gas emissions, a 30% reduction in energy use and LEED-certification for one-third of its portfolio.
- Citi's new CEO commits the bank to net zero by 2050
- Citi launches sustainability investment group
- Alphabet, Citigroup, Walmart make CDP corporate climate leader A List
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