Citi to be 100 Percent Powered by Renewable Energy by 2020
September 19 2017 - 9:00AM
Business Wire
Furthers Citi’s Sustainable Progress Strategy
including $100 Billion Environmental Finance Goal
Citigroup Inc. (“Citi”) today announced that it will source
renewable power for 100 percent of its global energy needs by 2020.
This is an important next step in the bank’s continued commitment
to reduce the environmental impact of its operations and finance
$100 billion in clean energy, infrastructure and technology
projects that build a more sustainable economy.
“We are right alongside our clients in supporting the growth of
renewable energy development and production,” said Citi CEO Michael
Corbat. “We’re committed to using renewable power sources for our
global operations while continuing to provide financing for our
clients’ renewable energy and energy efficiency projects around the
world.”
To accelerate this transition to sourcing 100 percent renewable
energy, Citi will consider onsite power generation, power purchase
agreements for energy-intensive properties such as data centers,
and appropriate use of renewable energy credits, as well as
continuing to focus on energy efficiency as a critical component of
its strategy. Citi owns or leases over 57 million square feet of
real estate in 94 countries, consisting of over 7,900 properties.
Its new global headquarters currently under construction in New
York City is being targeted for LEED Platinum, the highest level of
certification under the U.S. Green Building Council.
This effort will draw on the expertise and commitment of several
groups within Citi, many of which are already collaborating on
renewable energy projects. Earlier this year, Citi entered into a
contract to provide Green-e certified renewable energy for 50
percent of the power needs at its Roanoke, Texas, data center. The
deal provides a renewable source of energy as well as price
certainty to one of Citi’s key data centers and is the result of a
collaboration between Citi Realty Services, an internal unit
responsible for the company's facilities, and Citigroup Energy
Inc., a Citi subsidiary, to meet its renewable energy needs.
“With a focus on innovation and efficiency, we continue to
challenge ourselves to improve our facilities and operations around
the world,” said Don Callahan, Citi’s Head of Operations and
Technology. “We’re exploring new approaches and partnerships to
meet this ambitious renewable energy goal, and are excited to do
our part to support the transition to cleaner energy sources.”
To gain insight on the transition and learn from the similar
efforts at other companies, Citi is joining RE100, a global
initiative led by The Climate Group in partnership with CDP and
part of the We Mean Business Take Action campaign.
This commitment is part of the bank’s Sustainable Progress
Strategy and overall commitment to action on climate change,
including 2020 goals for energy, waste and water reduction and
green building. Citi continues to make progress against these
targets and since 2005 has reduced its energy use by 25 percent,
its water use by 25 percent, diverted 61 percent of its waste from
landfills, and expanded its LEED-certified real estate portfolio to
20 percent of its global facilities.
About 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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version on businesswire.com: http://www.businesswire.com/news/home/20170919005851/en/
MediaCitiElizabeth Kelly,
212-559-2477elizabeth.kelly@citi.com
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