Citi Releases 2016 Global Citizenship Report
April 24 2017 - 8:30AM
Business Wire
Citi today released its 2016 Global Citizenship Report,
highlighting efforts made in the last year to responsibly provide
financial services that enable growth and progress. The report is
divided in two sections - “How we do Business” and “Solutions for
Impact.”
The first section describes Citi’s values and the ways in which
the firm operates responsibly, from reinforcing the highest ethical
standards to operating in an environmentally friendly manner and
safeguarding clients’ privacy. The second section provides examples
of the many ways Citi works with clients and communities to meet
the world’s toughest challenges, including building inclusive
cities, working with governments on critical infrastructure
projects and financing solutions that protect against climate
change.
“Responsible business practices are not only the backbone of
Citi’s success, but are crucial to protecting the broader financial
system and the communities in which we live and work,” said Citi
CEO Michael Corbat. “As a global financial institution, Citi is
well positioned to help address complex societal challenges that
matter to our clients and impact our communities. This report
offers a look at the many ways we stand for progress in all that we
do.”
Among the many examples of Citi’s impact throughout the report,
key highlights include:
- Sustainable growth: Citi’s
progress toward its 10-year, $100 Billion Environmental Finance
Goal continues at a robust pace. Since announcing the commitment,
environmental finance activity reached $97.5 billion in just three
years, with $26.3 billion in 2016. Although on track to achieve the
goal in 2017, the company is redefining what completion means by
adopting a new methodology that counts only Citi’s share of a
transaction rather than total deal value. This approach is based on
established finance sector league table accounting. Applying this
new methodology, adjusted overall finance activity since 2014 is
$41.2 billion. These measures reflect both a commitment to
addressing climate change through business activity and a
willingness to learn and adapt as the field of environmental
finance continues to evolve.
- Connecting youth to jobs and
opportunity: The Citi Foundation’s Pathways to Progress, a $50
million effort launched in 2014, achieved its initial goal of
helping more than 100,000 young people in 10 U.S. cities become
career-ready through first jobs, internships, and leadership and
entrepreneurship training. At the start of 2017, Pathways to
Progress expanded globally, with a $100 million investment to
connect 500,000 young people inside and outside the U.S. to
training and jobs over the next three years. It's the largest
philanthropic commitment in Citi’s over 200-year history.
- Small business and affordable
housing: In 2016, Citi increased lending to small businesses in
the U.S. to more than $11 billion, raising Citi’s total over the
last five years to nearly $50 billion. Once again, Citi was the
leading financer of affordable housing in the U.S., as has been the
case for seven years in a row, financing $5.75 billion in
affordable housing totaling 46,000 units.
- Financial resilience: Citi
piloted the Citi ATM Community Network in 2016 providing free use
of Citi’s ATM network to over 300,000 clients of participating
minority-owned banks and credit unions.
- Inclusive communities: The Citi
Foundation launched the Community Progress Makers Fund, a two-year
$20 million initiative to support local organizations working to
build more sustainable cities in the U.S.
- Volunteerism: Citi celebrated
its 11th annual Global Community Day, when 85,000 Citi volunteers,
often accompanied by friends and family, took part in volunteer
projects in more than 500 cities located in over 90 countries.
This report is in accordance with the Global Reporting
Initiative’s (GRI) G4 Core guidelines and aligned with the United
Nations (UN) Global Compact and UN Guiding Principles on Business
and Human Rights frameworks. To learn more about Citi’s citizenship
efforts across the globe and to review the 2016 Global Citizenship
Report, visit http://citi.com/citizenship/.
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found
at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi |
Blog: http://blog.citigroup.com |
Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi.
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CitiElizabeth Kelly, 212-559-2477elizabeth.kelly@citi.com
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