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Friday, 20 March 2026

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Citigroup to handle US$50 billion of climate change mitigating projects in next 10 years

The bank will finance renewable energy, clean technology and other emission-reduction projects. This is possibly the greatest clean energy commitment ever made by any company.
Through its activities (investments, financing and related activities) Citigroup will direct no less than $50 billion to global warming mitigating projects during the next decade. This announcement does not mean that the bank will develop these clean energy projects itself, but it will provide the tools to its business partners to do it instead.
However, as part of this commitment Citi will reduce its environmental footprint with an impressive $10 billion dedicated to improve its real estate portfolio, procurement and energy use, and their effect on the planet. Also, Citigroup's Markets & Banking wing will finance and invest in $31 billion of renewable energy and clean technology projects.
The company will focus on solar, wind, hydro and geothermal technologies, as well as energy efficiency, carbon trading, waste and water management and sustainable forestry. The company will facilitate investments to upgrade old technology so that it becomes greener.

“With a presence in more than 100 countries, Citi holds a unique position within the global community. This informs our commitment to bring forward the best solutions for our clients, while also benefiting the people and the communities where we operate,” said Mr Charles Prince, Chairman and CEO of Citi.

“One area where we believe we have this opportunity is on environmental and climate issues, which pose a significant challenge to the world, to the global economy, and to clients and require forceful action,” Mr Prince said. “The comprehensive program we are announcing today is not a wish-list, but a realistic, achievable plan that serves a critical global need and responds to an emerging investment opportunity.”, he added.

Citi, which has been engaged in environmentally friendly projects for a long time, is not new to renewable energy. This new commitment is, however, much larger than anything seen before. Thousands of small green businesses around the world should be happy today for it will be easier for them to achieve their renewable dreams.

For additional information:

www.citigroup.com

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