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Article

23 Feb 2015

Author:
Siri Srinivas, Guardian (UK)

Citigroup pledges $100 billion in investments to tackle climate change

"Citigroup to invest $100bn in tackling climate change", 18 Feb 2015

The money will be used to finance large renewable-energy projects, for example, to aid greener affordable housing and to finance municipal infrastructure to reduce water waste and more, says Valerie Smith, director of corporate sustainability at Citigroup... It will also be used to help Citigroup reduce the environmental impacts of its global operations and supply chain, and to help its clients address environmental risks... But some industry insiders question whether...sustainable investments [are] enough to defray the environmental damage from banks' investments in coal and other fossil fuels. [also refers to Bank of America and Wells Fargo]