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Citi Sets Reduction Targets for Waste and Water Use

Citi has set new environmental targets that include cutting water use by 20 percent and landfill waste by 40 percent by 2015, according to the company’s 2009 Global Citizenship Report (PDF). The financial institution also set a tougher greenhouse gas (GHG) reduction goal of 25 percent and committed to LEED certification for at least 15 percent of its global real estate portfolio.

The company is on track to reduce its GHG emissions by 10 percent from 2005 levels by 2011, cutting its emissions by 9 percent from 2008 levels, which Citi attributes to energy efficiency improvements, “green” building design, IT best practices and the purchase of renewable energy credits.

In 2009, Citi purchased 125,899 MWh of green electricity in seven countries, and in the U.S., the bank is ranked 24th in the EPA ‘s Green Power Partnership among Fortune 500 companies for 2009 with more than 5 percent of its energy coming from wind turbines.

Citi is also committed to improve energy efficiency by 20 percent as measured by the U.S. Environmental Protection Agency’s (EPA) Energy Star ratings system. All of the company’s environmental targets use 2005 as the base year.

In 2009, the company achieved its first net reduction of data center energy consumption of two percent, while reducing power demand by six percent. Citi is also on track to meet its target to reduce the number of data centers to 24 by end the end of 2010. The company is also saving $1 million annually with its virtualization program.

Citi’s 230,000-square foot data center in Frankfurt, Germany, was the first to earn the LEED Platinum rating from the U.S. Green Building Council (USGBC).

In terms of sustainable purchasing, Citi’s six-year toner cartridge recycling program, ending in 2009, eliminated 2,345,599 pounds of solid waste and of the 6,096 metric tons of paper purchased from Citi’s preferred supplier, 92 percent contained 30 percent post-consumer recycled content.

The financial company is also halfway to meeting its 10-year, $50 billion goal, announced in 2007, to address climate change. So far, Citi has invested $24.3 billion on internal projects that include greening its facilities and external projects that include financing alternative energy, investing in clean technology and researching carbon reduction strategies on behalf of clients.

Cit has directed more than $5 billion in sustainable “green” investments, financing and other activities. Some of these investments include a biogas project in Honduras that will avoid 30,000 tons of carbon dioxide emissions per year, a 100-megawatt wind farm project in the United States, and a chemical plant refurbishment project in Israel to reduce emissions of nitrous oxide.

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2 thoughts on “Citi Sets Reduction Targets for Waste and Water Use

  1. Why would Citi end such a successful program like its toner cartridge recycling program? Also, what is Citi doing re the social aspect of sustainability in relation to its customers – I am a Citi customer yet could not get a loan to pay off high interest credit cards – but I did get the loan at another bank…how outrageous..I only use Citi because ATM’s are ubiquitous nationwide – else I’d never use them…they are still missing some major aspects of sustainability. But good at least they are making some efforts…how about stop financing Monsanto and other evil-doers!

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