Citi Announces Inaugural Green Bond Issuance
January 22 2019 - 12:00PM
Business Wire
Citi today announced the issuance of the firm’s first green
bond, further enhancing its commitment to environmental and climate
finance. The bond will fund renewable energy, sustainable
transportation, water quality and conservation, energy efficiency
and green building projects financed as part of Citi’s $100 billion
Environmental Finance Goal.
In the deal, which priced on 22nd January 2019, Citi issued €1
billion 3-year fixed rate notes. The transaction marks the first
green bond offering from Citigroup Inc.
“We are proud to start the year with the launch of our inaugural
green bond,” said Jamie Forese, President of Citigroup and Head of
the Institutional Clients Group. “This transaction represents an
important next step in expanding Citi’s commitment to sustainable
growth. This bond also further enhances our green bond expertise,
strengthens our partnerships with clients around the world and
responds to increasing investor interest in sustainable
finance.”
In 2015, Citi announced a $100 Billion Environmental Finance
Goal to finance and facilitate $100 billion within 10 years to
support environmental solutions and accelerate the global
transition to a low-carbon economy. Citi also recently announced
that it will source renewable power for 100 percent of its global
energy needs by 2020. Both initiatives are part of Citi’s
contribution to advancing the United Nations Sustainable
Development Goals (SDGs). They are also key goals of Citi’s
Sustainable Progress Strategy, which sets out Citi’s guiding
principles, priorities and ambitions in environmental finance,
environmental and social risk management, and the firm’s own
operations and supply chain.
“Since we co-founded the Green Bond Principles in 2014, Citi has
played a leading role in the development of the green bond market,
and we look forward to maintaining our commitment as this market
continues to grow,” said Michael Verdeschi, Treasurer of Citi.
Under Citi’s Green Bond Framework environmentally eligible
criteria have been defined as renewable energy, energy efficiency,
sustainable transportation, water quality and conservation, and
green buildings. The consultancy Sustainalytics has reviewed Citi’s
Green Bond Framework and has confirmed in their Second Party
Opinion that it is aligned with the overall sustainability
objectives of Citi and with the ICMA Green Bond Principles.
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: https://www.businesswire.com/news/home/20190122005729/en/
Media:Sophia StewartCiti Global Public AffairsBanking,
Capital Markets & Advisory Communications+1 (212)
816-7140sophia1.stewart@citi.com
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