CITI SETS RECORD FOR ASIA PACIFIC SUSTAINABLE FINANCING AND AIMS TO FURTHER DEVELOP ESG IN THE PHILIPPINES
Citi has raised over US$40bn for Asia Pacific clients from global and local capital markets year to date, to support their sustainable financing needs. This is an increase of over 500% versus the same period in 2020. In the Philippines, Citi has helped raise over US$1billion in green and sustainable bond financing for local clients over the last two years and supported local banks and corporates with their Sustainability Financing Framework.
“As a global, value-driven firm, we are dedicated to supporting the transition to a low-carbon economy. We view sustainable financing both as a mandate and as an opportunity to partner with our clients across geographies -- to help them decarbonize their operations and achieve their enterprise sustainability goals,” said Citi Philippines CEO Aftab Ahmed.
A proportionate amount of the capital raised representing Citi’s league table credit will contribute to the bank’s
global sustainable finance targets. In April 2021, the bank announced a US$500 billion environmental finance goal, as part of the US$1 trillion sustainable finance goal, all by 2030.
As the partnership with clients evolves, the dialogue though is widening further away from just financing.
“The scope of our sustainable financing efforts is growing continuously and covers all client segments, including corporates realigning their business models through acquisitions and divestitures. Our institutional commitment to building a greener future cut across all these activities,” added Ahmed.
Along with Citi’s net zero commitment for financed emissions by 2050, for its own operations, Citi is targeting net zero emissions by 2030, which builds on Citi’s environmental footprint goals.
Citi Plaza in Bonifacio Global City secured a double Leadership in Energy and Environmental Design (LEED) Platinum certification, in recognition of its efficient use of energy and water, as well as other environmentally friendly features. Since 2001, Citi has worked to measure, manage, and reduce the direct environmental impacts of its operations by tracking energy use, greenhouse gas emissions, water use, waste, and green building initiatives.