American multinational financial services firm Citi has unveiled its first US dollar-denominated green bond to finance environmental-friendly projects.
The four-year $1.5bn green bond will support renewable energy, sustainable transportation, water quality and conservation, energy efficiency, as well as green building projects, meeting the group’s Citi’s Green Bond Framework.
This bond follows Citi’s inaugural Euro-denominated green bond benchmark issued in January 2019, and is the company’s second green bond.
“With our second benchmark transaction and first USD offering, Citi continues to demonstrate its leadership in the green bond market while meeting growing investor demand for sustainable finance products globally,” said Michael Verdeschi, Treasurer of Citi.
Citi has made a commitment to finance $100bn worth of projects to help address climate change over a 10 year period since 2014.
Citi exceeded that goal in 2019 — four years ahead of schedule.
“Citi’s first U.S. dollar green bond is another milestone in our commitment to sustainable finance,” said Val Smith, Citi’s Chief Sustainability Officer. “We remain focused on developing innovative products and solutions that accelerate green financing, anticipate client demand and help drive sustainable growth.”