NY-CITI
22.1.2019 18:02:10 CET | Business Wire | Press release
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20190122005729/en/
Contact:
Media : Sophia Stewart Citi Global Public Affairs Banking, Capital Markets & Advisory Communications +1 (212) 816-7140 sophia1.stewart@citi.com
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