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11 Dec 2018

Val Smith, Citigroup

Citigroup updates its statement on human rights

In honor of the 70th anniversary of the Universal Declaration of Human Rights Citi has published an updated Statement on Human Rights... Citi’s support for human rights has manifested in such pioneering new policy approaches and industry standards as the Equator Principles. Our adherence to those principles, which we co-founded in 2003, enhances our ability to identify and work to mitigate the risks associated with our business activities. As new approaches emerged, including the UN Guiding Principles on Business and Human Rights, we have sought to integrate those frameworks into our policies and guidelines. We have also emphasized transparency about our efforts in our annual Global Citizenship Report, first published in 2000...

...Our Statement on Human Rights will continue to guide our principled approach to the human rights risks we face across our value chain, including the prevention of discrimination in our retail lending and other business practices and honoring diversity for all our employees. The Statement also acknowledges emerging areas of concern, including risks to the privacy rights of our employees and our customers in the fast-evolving world of digitalized financial services, in addition to the widespread impacts on human rights posed by climate change. We recognize that giving effect to these rights will also mean working closely with our clients to ensure appropriate human rights risk assessments and, when impacts occur, supporting them in providing effective remedies to those harmed.