American multinational investment bank and financial services corporation Citigroup Inc (Citi) has announced its new five-year 2025 Sustainable Progress Strategy to help accelerate the transition to a low-carbon economy, including a US$250 billion (RM1 trillion) Environmental Finance Goal to finance and facilitate climate solutions globally.

“This builds on Citi’s previous US$100 billion goal announced in 2015 and completed last year, more than four years ahead of schedule,” it said in a statement today.

Asia Pacific chief executive officer Peter Babej said environmental, social and governance (ESG) has been front and centre in Citi’s response to the health crisis, and evermore present in conversations with clients and communities across Asia Pacific.

“If there’s one lesson to be learned from the Covid-19 pandemic it is that our economic and physical health and resilience, our environment and our social stability are inextricably linked,” he said.

He said with the US$250 billion global goal, Citi wanted to be a leading bank in driving the transition to a low-carbon economy.

“Asia Pacific has a key role to play and we anticipate further acceleration in the region as businesses of all kinds shift to a more sustainable future,” he added

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