Citi today released its 2018 Global Citizenship Report, highlighting efforts made in the last year to responsibly provide financial services that enable growth and progress. This report and related summary includes numerous examples of how, through our core business and with the philanthropic efforts of the Citi Foundation, we are helping address complex and pressing issues such as climate change, the affordable housing crisis in the U.S., youth unemployment, diversity in business and financial independence for women.
“There is no shortage of challenges facing our communities and society today,” said Citi CEO Michael Corbat. “This report takes a look at the creative solutions we are continuously conceiving with our clients and communities and the ways in which we take a stand when our values and mission are questioned.”
Among the many examples of Citi's impact, key highlights include:
- Sustainable growth: Citi expects to reach its ten-year $100 Billion Environmental Finance Goal several years ahead of schedule, having recorded $38.4 billion of transactions in 2018 and $95.3 billion in total since 2014.
- Climate risk: Citi continues to advance how we analyze and disclose climate risks related to its business. Citi was the first major U.S. bank to release a climate disclosure report in response to recommendations from the Task Force on Climate-related Financial Disclosures.
- Affordable housing: Citi provided a record-setting $6 billion to finance the construction and preservation of more than 36,000 affordable housing units across the U.S., maintaining its ranking as the leading financier of affordable housing for the ninth year in a row.
- Valuing diversity: Citi was the first in the industry to disclose unadjusted pay gaps between women and men globally, and between minorities and non-minorities in the U.S. As part of this commitment to diversity and inclusion, Citi set representation goals for black talent in the U.S. and female talent globally to increase representation across all levels of the firm.
- Future of work: Through Pathways to Progress, a global initiative to prepare a next generation workforce, the Citi Foundation has invested $49 million globally, helping more than 400,000 young people move towards their career goals. These young people are supported by the more than 7,000 Citi employee volunteers who have mentored and coached youth globally.
- Financial inclusion: More than 440,000 clients of minority-owned banks and credit unions in the U.S. received fee-waived access through the Citi ATM Community Network. Citi’s checkless, low to no fee Access Account now makes up 24 percent of all newly opened accounts.
- Prioritizing safety: Citi issued a U.S. Commercial Firearms Policy that outlines requirements and promotes responsible business practices at the point of sale.
- Human rights: Citi updated its Statement on Human Rights to include emerging areas of concern, such as privacy rights and the risks associated with climate change and modern slavery.
- Volunteerism: Citi celebrated its 13th annual Global Community Day, when more than 100,000 Citi volunteers, with friends and family, took part in volunteer projects in more than 450 cities located in over 90 countries.
This report is prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core option and is aligned with the United Nations (UN) Global Compact and UN Guiding Principles on Business and Human Rights frameworks. To learn more about Citi's citizenship efforts across the globe and to review the 2018 Global Citizenship Report, visit http://citi.com/citizenship/.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Elizabeth Kelly, 212-559-2477