Six Global Financial Institutions Chart a Flight Path to Decarbonizing Aviation

Six top lenders to the aviation sector — Bank of America, BNP Paribas, Citi, Crédit Agricole CIB, Societe Generale and Standard Chartered — have announced that they will partner with RMI’s Center for Climate-Aligned Finance to help decarbonize the aviation sector through the formation of the Aviation Climate-Aligned Finance Working Group. The Working Group aspires to create a collective climate-aligned finance (CAF) framework that defines common goals for action for aviation sector decarbonization. The CAF framework is a commitment by participating financial institutions to annually assess and disclose, consistent with…

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Citi Releases 2020 Environmental, Social and Governance (ESG) Report

Citi has released its 2020 Environmental, Social and Governance (ESG) Report, an annual report that highlights the ways in which Citi is enabling progress and sustainable growth in communities across the world. This report and related summary not only detail the progress Citi has made on its longstanding ESG priorities over the past year, but also its efforts to adjust and address the immediate and longer-term challenges posed by the global COVID-19 pandemic. “The events of 2020 are a stark reminder that companies like ours have a role to play…

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Citi Announces New Five-Year Sustainable Progress Strategy to Finance Climate Solutions and Reduce Climate Risk

Citi has announced its new five-year 2025 Sustainable Progress Strategy to help accelerate the transition to a low-carbon economy. This new strategy includes a $250 Billion Environmental Finance Goal to finance and facilitate climate solutions globally. This builds on Citi’s previous $100 billion goal announced in 2015 and completed last year, more than four years ahead of schedule. “If there’s one lesson to be learned from the COVID-19 pandemic, it is that our economic and physical health and resilience, our environment and our social stability are inextricably linked,” said Michael…

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Citi Furthers Commitment to Global Pay Equity With New Campaign, “The Moment”

Citi has announced the launch of The Moment, a multimedia advertising campaign created to further the organization’s efforts surrounding the pay equity and senior-level representation gaps both within their organization and beyond. The campaign will kick off with a Times Square billboard, unveiling a series of photographs that capture the raw, unedited reactions of young children of Citi employees at the precise moment they learn about the gender pay gap and unequal opportunities that persist across many industries. The campaign will direct consumers to view the full video on Citi’s…

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Arjuna Capital: BNY Mellon Joins Bank of America, Citi & Wells Fargo As 4th Bank In 4 Weeks Working To Close Gender Pay Gap

In less than a month, four of the biggest banks and financial institutions in the U.S. have disclosed efforts to remedy gender pay inequity. Responding to shareholder proposals from Arjuna Capital calling for detailed reports and wage data disclosure, the Bank of New York Mellon – the world’s largest custodian bank and asset servicing company – became the fourth bank since January 15th to agree to close both its gender and racial pay gaps.  In response, Arjuna Capital withdrew its shareholder proposal at BNY Mellon.  Four of the nine banks…

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