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CITI Unveils 2009 Global Citizenship Report

CEO Pandit Says Commitment to Supporting Economic Growth is Integral to Citi

CITI Unveils 2009 Global Citizenship Report

CEO Pandit Says Commitment to Supporting Economic Growth is Integral to Citi

Published 04-27-10

Submitted by Citi

Highlights Include Industry-leading Environmental Goals, Continued Innovation in Microfinance and a Renewed Focus on Financial Capability and Community Development

Citi today released its 10th annual Global Citizenship Report, underscoring the bank's strategic focus on citizenship and commitment to the economic development of the communities it serves in more than 140 countries. Highlights of the report include the extension of $458 billion in new credit in the United States and a payment assistance program to help more than 510,000 card members in financial distress.

"Citi's commitment to supporting communities around the world is an integral part of our identity," said Citi CEO Vikram Pandit. "We are at our heart a local business that is able to bring a unique global perspective to clients. Our ties to community are strong -- as is our commitment to running our business in a manner that puts the customer first, values employees, supports communities, fosters diversity and inclusion, protects the environment and ensures our business activities are consistent with these values."

Among Citi's 2009 key accomplishments:


  • Directed more than $5 billion in sustainable, "green" investments, financing and other activities including: a biogas project in Honduras that will avoid 30,000 tons of carbon dioxide emissions per year; a 100-megawatt wind farm project in the United States; and a chemical plant refurbishment project in Israel to reduce emissions of nitrous oxide.

  • Arranged Bangladesh's first syndicated agricultural term financing facility to support microlending to small farmers and partnered with Grameen America to provide savings programs to underserved individuals in select areas of New York City.

  • Added $18.4 million to support Citi Foundation's $200 million global commitment to financial capability programs in more than 70 countries bringing the total investment in the area to $167 million.

  • Helped 388,000 homeowners avoid foreclosure, bringing the total number of mortgage holders Citi was able to help stay in their homes since the start of the financial crisis in 2007 to more than 824,000.

In 2009, the Citi Foundation invested $65.8 million in philanthropic programs across 88 countries that foster economic empowerment for those in need, and provide individuals and organizations with the knowledge, skills and tools they require to produce measurable and replicable results.

"While our philanthropy makes a positive impact, our real power lies within the business. Citi has long been an industry leader in integrating policies into our corporate practices that benefit the communities in which we live and work. We are committed to continuing our work in a transparent fashion to forward these common goals and play a positive role in the global economic recovery," said Pam Flaherty, Director of Citi Corporate Citizenship and CEO and President of the Citi Foundation.

Citi Nears Halfway Point of $50 Billion 10-Year Global Climate Change Initiative; Sets New Environmental Targets
Citi has directed a total of $24.3 billion to address the challenges of climate change, putting the bank nearly halfway to meeting the 10-year $50 billion goal announced in 2007. Investments include internal projects, such as the greening of Citi facilities, as well as external initiatives including financing alternative energy, investing in clean technology and researching carbon reduction strategies on behalf of clients.

Additionally, Citi announced new environmental targets for waste and water, including 2015 targets to reduce water usage by 20 percent and landfill waste by 40 percent. Citi also unveiled a more aggressive green house gas reduction goal of 25 percent, committed to LEED certification for at least 15 percent of its global real estate portfolio, and pledged to improve energy efficiency by 20 percent as measured by the U.S. Environmental Protection Agency's (EPA) ENERGY STAR ratings system. Citi's environmental targets are calculated from the 2005 base year.

Citi was one of four banks to co-develop the Equator Principles in 2003, a voluntary set of industry guidelines to manage the environmental and social risks of project financing globally. More than 68 financial institutions now adhere to these Principles, which are considered the "gold standard" in finance. Since 2005, Citi has helped finance over $100 billion in global infrastructure and development projects subject to the Equator Principles. In March this year, Citi was elected to the pivotal role of Chair of the Equator Principles Financial Institutions (EPFI) Steering Committee.

Citi Continues Focus on Microfinance around the World
Citi Microfinance works across Citi's businesses and geographies to serve more than 100 microfinance institutions (MFIs), networks and investors as clients and partners in over 40 countries, providing funding, access to capital markets, savings, remittances and insurance products. Citi works with MFIs that serve millions of people who lack access to basic financial services.

"Citi is committed to being a global and local supporter of the microfinance sector and to focusing the resources of our business to expand financial inclusion and economic growth. Our strategy has been to work closely with microfinance institutions in local markets connecting institutions with access to commercial financing and to their own local capital markets," said Bob Annibale, Global Director of Citi Microfinance and Community Development.

Citi has nearly three decades of experience in the area of microfinance, supporting the institutional development of the sector through the Citi Foundation, and by our businesses and Citi Microfinance working with MFIs as clients and partners.

To read the complete Citi Global Citizenship Report for 2009, visit the new micro site at citizenship.citigroup.com.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.Citigroup.com or www.Citi.com.

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Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com .

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