Available in Hong Kong and Singapore, Citi’s new deposit solution supports clients’ sustainability priorities while advancing Citi’s commitment to sustainable financing

Citi today announces the launch of a new sustainability-focused time deposit solution in Asia Pacific, meeting client demand and interest in sustainability-linked products, services and investment options.

Available in Singapore and Hong Kong, corporate and institutional clients in the region now have access to Citi Treasury and Trade Solutions’ (TTS) new Sustainable Time Deposit solution.

Delivering competitive yields, funds invested into the Sustainable Time Deposit will be 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. These frameworks support the United Nations (UN) Sustainable Development Goals (SDGs).

Stephen Randall, Global Head of Liquidity Management Services, Treasury and Trade Solutions, Citi said, “Sustainability is a key priority for our clients, and a commitment we take seriously at Citi. It shapes our business strategy and is embedded in the products and services that we offer. Our new deposit solution support our clients’ sustainability agenda, providing them with a range of suitable financing options and investment services.”

Environmental projects that will be financed through these deposits include projects in renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation.

Social projects include expanding access to affordable basic infrastructure like water/sanitation and digital connectivity for low-income communities and women in emerging markets. These projects also include providing access to essential services such as healthcare, education, affordable housing and financing for entrepreneurs and smallholder farmers.

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Affordable Housing projects being financed in the U.S. include the construction, rehabilitation, and/or preservation of housing for low- and moderate-income populations.

Sandip Patil, Asia Pacific Head of Liquidity Management Services, Treasury and Trade Solutions, Citi said, “We continue to expand our suite of sustainability-focused products and services for TTS clients in Asia Pacific. Through our new deposit solution in Hong Kong and Singapore, we will closely work alongside treasurers who are playing a pivotal part in making their businesses more sustainable. We will also be introducing our latest deposit solution in additional Asia Pacific markets by next year.”

Citi’s new deposit solution in Asia Pacific follows from a number of sustainable finance products introduced by TTS in the region last year, including sustainable supply chain financing and sustainable trade loans.

Citi has also made a US$1 trillion sustainable finance commitment by 2030. Through this commitment, Citi is financing and facilitating a wide range of activities including renewable energy, sustainable transportation, healthcare and affordable housing to help further the acceleration to a sustainable, low-carbon economy that supports the environmental, social and economic needs of society.

Source: Citi