LOADING

Type to search

Citi Launches New Deposit Solutions to Support Clients’ Sustainability Agenda

Citi Launches New Deposit Solutions to Support Clients’ Sustainability Agenda

Citi has announced the launch of new deposit solutions designed to assist clients in investing excess cash as part of their sustainability agenda.

The two new deposits – Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) – deliver competitive yields and are based upon Citi’s green and social bond frameworks, supporting the Sustainable Development Goals (SDGs).

Czeslaw Piasek, EMEA Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, commented: “Sustainability is no longer an executive level only discussion. Finance and treasury departments can play a strategic role in helping their firms to deliver on Environment, Social and Governance (ESG) -related goals and become more sustainable businesses. Our new series of deposit solutions reflect Citi’s commitment to helping our clients advance ESG commitments in their treasuries through a range of sustainable financing- and ESG-linked investment services.”

Funds invested into the deposits are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.

Types of projects being financed include:

  • Green projects including renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation.
  • Social projects that expand access for low-income communities and women in emerging markets including affordable basic infrastructure for water/sanitation and digital connectivity, as well as essential services such as healthcare, education, affordable housing, and financing for entrepreneurs and smallholder farmers.
  • Affordable Housing projects in the U.S. including the construction, rehabilitation, and/or preservation for low and moderate income populations.

David Tsui, EMEA Head of Deposits and Investments Products, Treasury and Trade Solutions, Citi, added “The expansion of our sustainable product suite is one of the steps we are taking to provide more comprehensive sustainable cash management solutions to clients. We are delighted to be partnering with treasurers to explore new and innovative ways to support their sustainability objectives.”

See related article: Citi Releases 2021 Environmental, Social and Governance (ESG) Report

Both deposits are now available in the U.K., Ireland, and Abu Dhabi.

Citi’s Frameworks are aligned with the recommendation of the International Capital Market Association’s Green Bond Principles and Social Bond Principles and have been assessed by a leading independent ESG and corporate governance research, ratings, and analytics firm.

As cash deposit transactions, TD or MMTD are not securities and the return of the TDs and MMTDs are not linked to the return of the underlying assets.

Source: Citi

Topics

Related Articles

Leave a Comment

Your email address will not be published. Required fields are marked *

LOADING

Type to search

Blog

Image of official Toronto Climate Week logo nad icon in reverse white text over blue background
PwC Survey Finds Rising Pressure and Value in Corporate Sustainability Reporting
IBM Launches API to Embed Emissions Data into Corporate and Vendor Tools
Founder Group to Build $2.76B Solar and Storage Complex in Sarawak
Germany Delivers Nearly $14 Billion in Climate Finance for 2024
Standard Chartered Backs L&T with $700M Sustainability-Linked Trade Financing
MAS Appoints Abigail Ng as New Chief Sustainability Officer
ESG News WEEK IN REVIeW 21 Sept - 28 sept
OXCCU Secures $28 Million to Scale Carbon-to-Fuel Technology for Aviation
Dutch Startup Brineworks Secures $7.3M to Scale Direct Air Capture for e-Fuels
Becky Park-Romanovsky on Building Toronto Climate Week and Canada’s Climate Future
DHL, Hapag-Lloyd Expand Use of Sustainable Marine Fuels to Cut Supply Chain Emissions
EU Pushes Back Supply Chain Deforestation Rules by One Year
California Names 4,000+ Companies Facing Mandatory Climate Disclosures
Levi Strauss and Schneider Electric launch supply chain renewable energy accelerator in India
EFRAG Maps Digital Tools to Advance SME Sustainability Reporting
Watershed Launches AI-Driven Product Footprints to Tackle Scope 3 Supply Chain Emissions
PRI Awards 2025 Spotlight Responsible Investment Leaders
Frontier Launches Rail-Based Carbon Management Platform for Ethanol Sector
UK Signs Contracts for First Commercial Carbon Capture Projects
","session_id":"ep-sess-1760320682-hdr3Ixgb","page_url":"https:\/\/esgnews.com\/citi-launches-new-deposit-solutions-to-support-clients-sustainability-agenda\/","post_id":"12052","tracking_enabled":"1","original_referrer":"","has_embedded_content":""}; /* ]]> */