Citi reports sustainable finance progress, sets new 2030 goals

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🗞️ Driving the news: Citi has committed $647.2bn to sustainable finance since 2020 and unveiled new 2030 targets for energy use and operational emissions after meeting six of its eight sustainability goals for 2025

🔭 The context: The bank committed $91.3bn to sustainable finance in 2025, bringing it closer to its $1tn target, while estimating that financing since 2020 has helped avoid 8.8m tonnes of greenhouse gas emissions and supported more than 4.4m jobs
• Citi reduced location-based Scope 1 and 2 emissions by 58% and energy consumption by 43% from 2010 levels, exceeding both of its 2025 targets
• It also maintained 100% renewable electricity sourcing and surpassed goals for water consumption, waste reduction and sustainable building certifications

🌍 Why it matters: Citi’s progress illustrates how large banks are continuing to integrate climate and resilience objectives into financing and operations despite a more challenging sustainable finance market
• However, missed targets on water reuse and waste diversion show that operational decarbonisation can be constrained by infrastructure and local market conditions

⏭️ What’s next: By 2030, Citi plans to cut location-based operational emissions by another 15% and energy consumption by 10% from a 2025 baseline, while continuing toward its $1tn sustainable finance target and net-zero financed emissions by 2050

📈 One stat: Citi has committed $647.2bn to sustainable finance since 2020, including $91.3bn in 2025

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