Results tagged as "sustainability"

  • Expanding Financial Inclusion: Microfinance & Carbon Credits

    By April Allderdice, CEO, MicroEnergy Credits April 30, 2013 04:18 PM

    Many of the world's poor lack not only financial resources but also adequate access to energy to power their homes and business places. The inefficient use of energy in under-served communities is also a contributor to climate change. But what if there were a way that lower-income communities could help reduce greenhouse gas emissions while also improving their financial and energy usage profiles?

    In Mongolia, many lower-income residents live in portable tent-like structures--called gers--that are traditionally under-insulated and heated by inefficient coal-burning stoves that contribute to the notorious air pollution in the country's urban centers. However, a simple household insulation product (a "ger blanket") can greatly increase heat retention and--together with more energy efficient stoves--lower the rate of costly fossil fuel consumption and harmful carbon emissions.

    The two issues are linked, since gers have to be paid for and the lack of financial resources slows their adoption. To help speed the widespread installation of more ger blankets while unlocking access to financial services for underserved Mongolians, Citi Microfinance worked with three partners: Citi's own London-based Environmental Products Trading & Origination team, the U.S.-based social enterprise MicroEnergy Credits, and Mongolia's XacBank.



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  • Meet Guillaume Gauthereau of Totsy on #StartupLab

    By The Young Entrepreneur Council January 30, 2013 09:00 AM

    Who said doing good and doing well are mutually exclusive? Guillaume Gauthereau (this week's live chat host -- RSVP here) is living proof that they're not.

    In just three years, Guillaume, co-founder/CEO of Totsy, has transformed his company into the second largest U.S. private sale site for moms and kids, with over 5 million members and a nod from Forbes as one of "America's Most Promising Companies." He's also raised $35M in funding.

    But Totsy is more than just a wildly successful sale site -- it also reflects Guillaume's personal commitment to social responsibility. (We hear it's the only carbon-neutral and socially responsible flashsale company in the country!)

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  • Citi Turns 200: Banking fosters sustainability

    January 18, 2013 09:00 AM

    In celebration of Citigroup's 200th Anniversary, we have been sharing stories from our rich history here on this blog. The final installment below covers how the bank began to take a leadership role in promoting sustainability and environmental awareness. Read the 37th installment, which explains how the bank supported American communities through job creation, small-business finance, and affordable housing initiatives, here.

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  • Remembering Rebecca Tarbotton

    By Pam Flaherty, CEO and President, the Citi Foundation and Director, Corporate Citizenship; Val Smith, Director, Corporate Sustainability; Shawn Miller, MD, Environmental and Social Risk Mgmt; Bruce Schlein, Director, Corporate Sustainability January 09, 2013 12:30 PM

    Recently, the global environmental community lost one of its strongest advocates, Rebecca (Becky) Tarbotton, the Executive Director of the Rainforest Action Network (RAN), in a tragic accident. We want to offer our sincere condolences to Becky's family and to the RAN staff and board. We know that her loss will be deeply felt not just by her loved ones, but also by the entire environmental movement, especially those of us who worked with her. Becky was a great leader who had already made a huge impact on the issues she cared deeply about.

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  • Citi Launches $40M Sandy Recovery Loan Fund with Mayor Bloomberg and CPC

    By Andrew Ditton, Co-Head of Citi Community Capital December 21, 2012 03:45 PM

    Today, Citi has launched the Storm Recovery Loan Fund, a pilot program to provide up to $40 million in low-cost loans to fund the repair of multi-family buildings damaged by Hurricane Sandy along with Mayor Michael R. Bloomberg, and The Community Preservation Corporation. Building owners can put the funds toward resiliency measures, like installing state-of-the-art heating and electric plants that are repositioned to withstand the next storm by being located on higher floors and/or in waterproof compartments. This focus on mitigation will decrease the cost of recovery and reduce the destructive impact of future storms. The program will also promote green improvements that will conserve energy and save money over the long term. The new fund blends a subsidy from Housing Preservation and Development with Community Preservation Corporation financing to provide loans that are below market rate, allowing owners to make needed repairs in the aftermath of Sandy.

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  • Meet Tom Szaky of TerraCycle on #StartupLab

    By The Young Entrepreneurship Council December 18, 2012 09:00 AM

    One man's trash is another's treasure -- and Tom Szaky (this week's live chat host -- RSVP here) is living proof.

    The Hungarian native's fascination with trash goes back a long way. While studying at Princeton, he and his mates cultivated a huge worm farm, which they fed with cafeteria waste. They then sold the resulting Worm Poop (very effective fertilizer, or so we've heard) in bottles they'd found in the trash. It was a win-win: they made money, and the project was environmentally friendly too.

    Fast forward to 2012, and Tom, as the founder and CEO of TerraCycle, Inc, one of the world's foremost leaders in eco-capitalism, recycling and upcycling, was named #1 CEO in America Under 30 by Inc. Magazine.

    Today, with a projected $15 million in revenue and clients like Kraft Foods, Nestle, L'Oreal, Mars, GSK and Kimberly-Clark Professional, TerraCycle is a post-consumer waste solution force to be reckoned with. They're even teaming up with cigarette companies -- talk about an odd couple!

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  • FT/Citi Ingenuity Awards: Meet the Finalists

    October 29, 2012 05:15 PM

    Meet the Finalists: Energy

    Recently, Citi and the FT announced the finalists of the FT/Citi Ingenuity Awards: Urban Ideas in Action, a globally diverse and dynamic group of innovators fueling growth and economic progress in cities around the world.

    Over the next few weeks, we'll share profiles of the category finalists, starting with energy below.

    Check back for updates and visit Citi's Facebook page to tell us which finalist you think is the most ingenious.

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  • Citi Helps Launch Better Than Cash Alliance, Accelerating Transition to E-payments

    By Bob Annibale, Global Director, Citi Microfinance and Community Development September 27, 2012 02:00 PM

    Click the photo above to watch video

    This week, Citi helped to launch the Better Than Cash Alliance, a coalition of public, private and NGO partners that will call on governments, the development community and the private sector to adopt the use of electronic payments for programs that support the underbanked -- and provide resources to those who commit to make the transition.

    According to a report commissioned by the Better Than Cash Alliance and released by specialist consultancy Bankable Frontier Associates, roughly 2.6 billion people live on less than $2 per day and 90 percent of them lack access to formal financial services, mainly operating in a cash-only economy that is vulnerable to theft, loss, lack of transparency, and inefficiencies.

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  • Toward sustainable housing solutions for America's homeless veterans

    By Natalie Abatemarco, Managing Director, Citi Community Development September 25, 2012 09:00 AM

    I recently had the opportunity to join a coalition of committed public, private and nonprofit sector leaders at the 2012 Veteran Access to Housing Summit, where we shared ideas about how to end veteran homelessness. Hosted by the National Coalition for Homeless Veterans (NCHV), this gathering was supported by Citi as a joint effort of our Citi Salutes initiative and Citi Community Development.

    Safe, sustainable and affordable housing is one of the many challenges facing those who have served our nation - whether they returned home decades ago or in recent months as a result of the continued drawdown of troops. Statistics drawn from NCHV reports paint a stark picture:

    • Nearly one in seven homeless adults is a veteran.

    • About 145,000 veterans experience homelessness at some point during the year, and approximately 1.5 million veterans are at risk of homelessness.

    • There is a critical need for 90,000 units of permanent housing for homeless and low-income veterans.

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  • Citi Becomes World's First Bank with 200 LEED® Certified Projects

    June 21, 2012 11:30 AM

    Yesterday, Citi celebrated the LEED® (Leadership in Energy and Environmental Design) Platinum certification of its New York City flagship branch in Union Square, becoming the world's first bank with 200 LEED-certified projects. LEED is the U.S Green Building Council's leading rating system for designing and constructing the world's greenest, most energy efficient, and high performing buildings.

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