Citi Releases 2011 Global Citizenship Report
By Pam Flaherty, Director of Corporate Citizenship and President & CEO of the Citi Foundation April 18, 2012 11:00 AM
Yesterday, Citi released its 12th annual Global Citizenship Report, detailing the bank's progress and performance on key environmental and social indicators. Highlights of the report include Citi surpassing its 2011 goal to reduce greenhouse gas (GHG) emissions by 10% and the Citi Foundation reaching 1.6 million people to date through grants that expand financial inclusion and economic empowerment.
Over the last 12 years we've made strides to continuously improve our transparency and disclosure on key issues based on our engagement with stakeholders, including clients and NGOs. This process has added value to the organization by helping our businesses better understand the needs of our clients and communities and identifying areas of opportunity to be innovative in our approach to supporting sustainable economic development.
Among Citi's 2011 key accomplishments are the following:
- Exceeded our 2011 goal to reduce operational greenhouse gas emissions by 10 percent from a 2005 baseline with a reduction of 13.6 percent in net CO2e
- Contributed over $90 million from Citi and the Citi Foundation to support economic empowerment and financial inclusion in underserved communities around the globe, including $78 million in grants from the Citi Foundation and an additional $16 million from Citi Community Development
- Provided over $2.16 billion in financing for affordable housing in the U.S., making Citi the top lender according to Affordable Housing Finance for the second year in a row
- Provided more than $290 million in funding to 32 microfinance institutions across 18 countries in partnership with the U.S. Overseas Private Investment Corporation (OPIC) since 2006, including a $20 million term loan in 2011 to support microentrepreneurs and small businesses in Indonesia
- Committed $6.4 billion in financing and investments in renewable energy and clean technology projects around the world, including one of the world's largest commercial solar photovoltaic installations
Citi's full 2011 Global Corporate Citizenship Report can be found at citizenship.citigroup.com or as an iPad app in the Apple App Store. Citi self-declares a B level report according to the Global Reporting Initiative (GRI) framework, a global voluntary standard for corporate environmental, social and governance reporting.