Citi: 4 NEW CASES
Updated: Mar 7, 2019
Pathways to Progress is a program operated by Citi Foundation that aims to reduce youth unemployment in cities around the world. The program has helped more than 100,000 young people become career-ready by providing first jobs, internships, and leadership and entrepreneurship training.
Citi conducted a survey of more than 7,000 young people aged 18-24 from 45 cities in 32 countries. The result shows that youth are very optimistic about the future, but at the same time, they are concerned about opportunities to access higher education, internships, and other avenues that provide skills needed to succeed in society. In Japan, Citi supports young people who are isolated from the society, NEETs (a person who is Not in Employment Education, or Training), and people who have not been able to find employment for a long time.
Environmental Finance, one of the three pillars of Citi’s Sustainable Progress Strategy, focuses on client offerings that help combat climate change and provide other environmental benefits. To achieve its goals, Citi will to lend, invest and facilitate $100 billion for activities focused on environmental and climate solutions over 10 years (2014 to 2023) in the following six areas; renewable energy, water quality and conservation, sustainable transportation, green building, energy efficiency, and clean technology. This commitment follows a previous goal established in 2007 to direct $50 billion toward climate-friendly projects. Citi completed this goal ahead of the plan in 2013.
Operations and supply chain targets are one of the three pillars of Citi’s Sustainable Progress Strategy. Citi’s global footprint comprises more than 7,700 properties in nearly 100 countries and jurisdictions that have an area in excess of 55 million square feet, as well as thousands of suppliers. Lowering our environmental impact by reducing costs and implementing measures that reflect global best practices has a positive impact on the communities where we live and work.
This work can also serve as a learning laboratory to stimulate product development and new partnership opportunities with clients and NGOs. We look for opportunities to leverage our operational and supply chain expertise in ways that bring value to our client engagements, and we are linking our operations and banking units to co-develop financing solutions.
Environmental and social risk management policies for financing decisions that support responsible growth and economic progress
Environmental and social risk management is one of the three pillars of Citi’s Sustainable Progress Strategy. Since 2003, when Citi became the first U.S.-based financial institution to establish a comprehensive ESRM Policy, we have assessed how a wide variety of lending, investments and assets impact local communities, labor, climate change, biodiversity, air quality, water quality and other environmental and social issues.
The ESRM team uses a number of methods to proactively scan the changing risk landscape. Using a systematic, data-driven approach enables Citi to embed the latest assessment results in our finance decision-making process.
Citi is partnering with other leading global and regional banks and the United Nations Environment Programme Finance Initiative (UNEP FI) to evaluate climate risks and opportunities under different global warming scenarios. We will use the learnings from this climate scenario analysis to develop better tools, models and metrics to monitor and measure the impact of climate change on our portfolio.