Commercial, Finance - May 22, 2020
Citi launches sustainability investment group
Citigroup announced May 19 that they are launching a new arm within its corporate and investment bank focused on sustainability.
The Sustainability & Corporate Transitions Group will work with clients to give advice and financing that support their sustainable and resilient business models, Reuters reported. The division will also bring in external industry experts for consulting and will establish a Global Sustainability Client Council to “advise clients on sustainability transitions across coverage areas.”
“The current Covid crisis will elevate the importance of ESG to our clients, as they increasingly focus on more sustainable and resilient strategies and on recovery plans that help drive the just transition to a net-zero emissions future,” Tyler Dickson and Manolo Falcó, global Banking, Capital Markets and Advisory (BCMA) heads, said in a memo to bankers sent on May 19.
The new group will be led by BCMA Chief Strategy Officer Bridger Fawcett and Keith Tuffley, a leader of BCMA’s sustainability efforts.
The group will also work with other business lines in the institutional clients group and the consumer bank.
- Alphabet, Citigroup, Walmart make CDP corporate climate leader A List
- Citigroup deployed $47.6B in environmental finance in 2015, cut its own energy use 22%
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