Citibank unveiled targets for reducing emissions linked to loans to coal mining, steel, auto, and real estate clients by 2030, while revealing its plan to buy carbon credits for its own operations. Banks around the world are pledging to reduce carbon emissions for the sectors that emit the most carbon. And last year, Citi announced goals for its energy and power portfolios. The American major bank updated its plan to achieve net zero emissions by 2050. Citibank said its clients need to use carbon credits while it will buy the credits to offset its own emissions.

Source: carboncredits