Commercial, Energy Efficiency, GHG Emissions, Commercial, Finance, Solar, Wind  -  May 31, 2016

Citigroup deployed $47.6B in environmental finance in 2015, cut its own energy use 22%

Marking progress toward previously announced goals, Citigroup recently reported that it participated in $47.6 billion of environmental finance activities in 2015 globally.

According the company's global citizenship report, $20.9 billion of that total, or 44%, was deployed in North America. 

The updated figures, combined with its 2014 activities, bring Citigroup's total to $71.2 billion toward its previously announced goal "to lend, invest and facilitate $100 billion over 10 years towards activities that reduce the impacts of climate change and create environmental solutions." 

The banking behemoth attributed most of that $71.2 billion — $31.7 billion, or 45% — to what it labeled "multiple categories," comprised of transactions such as green bonds and yieldcos activity that bundled together multiple environmental technologies. Past that, the next largest sum went to wind, $17.5 billion or 25% of the total, then solar, $9.4 billion or 13% of the total. 

Citigroup also touted its progress toward energy use and carbon emission reductions throughout its more than 12,000 owned and leased facilities globally. Citigroup reduced energy use by more than 22% in 2015, and absolute Scope 1 and Scope 2 greenhouse gas emissions by 25%, according to the report. The company also obtained LEED certification for more than 16% of its portfolio,.

The company's new, 2020 goals call for its facilities call for a 35% reduction in greenhouse gas emissions, a 30% reduction in energy use and LEED-certification for one-third of its portfolio. 

Read These Related Articles:

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