July 13, 2007
Citi Publishes Citizenship Report
Citigroup has published its 2006 Citizenship Report.
Citi says that the cornerstone of its environmental initiatives is its ESRM policy: “We have significantly expanded the policy, originally created in 2003 to cover project finance, corporate and government loans and bond underwriting, with known use of proceeds. Where use of proceeds is known, the updated policy now includes financial advisory mandates; equity investments above $5 million; equity underwriting in excess of $50 million; and letters of credit, bid bonds and performance bonds for which the instrument exceeds $50 million.”
Citi has said that it is addressing global climate change through investments, financings and related activities to support the commercialization and growth of alternative energy and clean technology among the clients and markets it serves, as well as within its own businesses and operations.
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