Citi has announced that they commit $1 trillion to sustainable finance by 2030.
- Citi will shift its funding towards clean and sustainable technologies.
- The private sector, not the government, is leading the way to emissions reductions.
- While it is important that Citi, a member of the private sector, is making these commitments, we believe that it is a mistake that Citi is moving completely away from fossil fuels. The best way to make an energy source cleaner is by innovating it, not moving away from it altogether.
“Today, we’re excited to share that we are committing $1 trillion to sustainable finance by 2030, which aligns with the ambitious agenda of the United Nations’ Sustainable Development Goals (SDGs), and builds on the work we outlined in our 2025 Sustainable Progress Strategy. Crucially, this $1 trillion includes extending our current environmental finance target from $250 billion by 2025 to $500 billion by 2030. We will finance and facilitate a wide array of climate solutions — from renewable energy and clean technology, to water conservation and sustainable transportation — and will further accelerate the transition to a sustainable, low-carbon economy that balances the environmental, social and economic needs of society.”
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The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
