Global bank announces first €1 billion green bond


Citi will use the green bond to fund renewable energy, sustainable transportation, water and energy conservation/efficiency and green building projects.

Citi will use the green bond over the next three years, as part of the bank’s $100 billion Environmental Finance Goal.

Consultancy Sustainalytics has reviewed the €1 billion green bond and confirmed that it is aligned with the overall sustainability objectives of Citi and with the ICMA Green Bond Principles.

Michael Verdeschi, treasurer of Citi, said: “Since we co-founded the Green Bond Principles in 2014, Citi has played a leading role in the development of the green bond market, and we look forward to maintaining our commitment as this market continues to grow.”

Citi announced in 2015 that it will invest $100 billion, through to 2025, to support environmental solutions and accelerate the global transition to a low-carbon economy.

The bank is also aiming to generate 100% of its total energy from renewables by 2020.

Jamie Forese, president of Citigroup, added:  “We are proud to start the year with the launch of our inaugural green bond.

“This transaction represents an important next step in expanding Citi’s commitment to sustainable growth. This bond also further enhances our green bond expertise, strengthens our partnerships with clients around the world and responds to increasing investor interest in sustainable finance.”