America’s largest banking groups are increasingly incorporating environmental and social considerations into lending and investment practices. They are also bringing sustainability in-house, launching initiatives to make greater use of clean energy, enhance resource efficiency, and reduce waste and pollution.
On Feb. 18, Citigroup made a landmark commitment to finance sustainable development across its worldwide business footprint. Management announced the group would “lend, invest and facilitate a total of $100 billion within the next 10 years to finance activities that reduce climate change and create environmental solutions that benefit people and communities.”
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