01/26/2006
Source: LOHAS Weekly Newsletter
Author: CSRwire.com
Demonstrating its ongoing commitment to
environmental and social issues globally, Citigroup Inc. (NYSE:C) today
announced a commitment to reduce its greenhouse gas emissions on a global
basis by 10% by 2011. To accelerate this reduction, Citigroup is joining the
U.S. Environmental Protection Agency's Climate Leader Program. This
voluntary industry-government partnership identifies environmental leaders
in adopting aggressive goals and strategies for curtailing greenhouse gas
emissions at manufacturing and other facilities. Citigroup will partner with
an EPA-appointed engineer to enhance its on-going global emissions reduction
strategy.
"We are excited to be part of this voluntary program. As the largest
financial services company in the world, we believe that we have an
obligation to support this initiative to help clean up the environment and
reduce the impact of greenhouse gas emissions," said Citigroup CEO Chuck
Prince. "Our global footprint of facilities is nearly 90 million square feet
in size. This represents an enormous opportunity for us to continue tracking
and reducing the emissions from our offices, retails outlets and ATM
locations."
Since 2003, Citigroup has been monitoring and reporting its greenhouse
gas emissions and working toward reducing those emissions at its more than
13,000 facilities worldwide. In 2006 Citigroup will expand this initiative
by taking action to reduce consumption of energy and other resources.
This initiative is the latest in Citigroup's efforts to building a
program of Social Responsibility worldwide. Citigroup is a founding member
of the Equator Principles, voluntary guidelines based on World Bank and
International Finance Corporation (IFC) policies to evaluate environmental
and social risks related to financing development projects. Citigroup is
also recognized for its leadership in ensuring access to financial education
and financial products and services, financing affordable housing
construction, and encouraging volunteerism among its 300,000 employees.
Citigroup also is a longstanding supporter of microfinance, which includes
support of microcredit programs through philanthropic giving.
Citigroup joins the 79 corporations, including Xerox, the Gap, Frito-Lay,
DuPont and General Motors, who have already pledged their commitment to
lowering emissions through this EPA-sponsored program.
With today's announcements, 46 companies have set GHG reduction goals.
EPA estimates that these goals will prevent more than 8 million metric tons
of carbon emissions equivalents per year. These reductions are equal to the
annual greenhouse gas emissions of 5 million cars.
Since its inception in 2002, Climate Leaders has grown to include 79
corporations whose U.S. emissions represent 8 percent of total U.S.
greenhouse gas emissions.
Citigroup (NYSE: C), the leading global financial services company has
some 200 million customer accounts and does business in more than 100
countries, providing consumers, corporations, governments and institutions
with a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities brokerage,
and wealth management. Major brand names under Citigroup's trademark red
umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and
Banamex. Additional information may be found at
www.citigroup.com
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