Big Businesses Are Expected to Continue Investing in Sustainability in 2017

Smart Investment Supports Sustainability.

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Within the next 10 years, leading global bank Citi, which conducts business in more than 160 countries around the world, will invest the enormous sum of $100 billion in support of sustainability initiatives. Having announced a similar initiative in 2007 which involved a $50 billion investment, the corporation has renewed its commitment to providing leadership in its drive to reduce the impact of climate change and create environmental solutions which benefit both communities and the environment.

As part of this new investment, Citi will coordinate with other corporations to identify opportunities where funding can be provided for the reduction of greenhouse gases and other initiatives like sustainable transportation. Included in this approach will be a partnering with various metro area governments and organizations to explore ways that clean urban transit can be provided to the masses, waste management can be improved, access to clean water is available, and green housing methods are used in new construction.

A company on a mission

The CEO of Citi, Michael Corbat, declares that “For more than 200 years, Citi’s mission has been to enable progress by facilitating economic growth and financing transformative projects. The core mission hasn’t changed, but the way we approach it has. Incorporating the principles of sustainability into everything we do improves our own operations, enhances our clients’ work, and contributes to a better world.” In general, Citi seeks to find ways of its own and help others find ways to reduce carbon emissions and to make infrastructure more resilient to climate and climatic change.

Further demonstrating its commitment to the proper development of emerging and developing nations, Citi’s Sustainable Forestry Standard states that they “will not make loans to companies whom (they) know to be in violation of local or national laws regarding illegal logging.” According to the nonpartisan think-tank Council on Foreign Relations, “loss of forests contribute as much as 30 percent of global greenhouse gas emissions each year.” By enforcing high ethical standards surrounds its investments, groups like Citi are doing their part to protect forests from illegal logging practices.

Specific goals for 2020 and beyond

The specific environmental goals Citi has established for itself by the year 2020 include all the following: a 35% reduction in greenhouse gases emission, 30% reduction of water usage and energy usage, and a 60% reduction of waste generated at the corporate level. All these figures would be compared against baseline figures established in the year 2005, and that standard will also serve as the basis for preliminary goals already considered for as far out as 2050.

By 2050, Citi also expects to have reduced greenhouse gas emissions by 80% or more, which will be an aggressive milestone to achieve but seems well within the company’s established track record of achievement. Virtually all the company’s sustainability goals have been met in each of its prior target dates, and in most cases, targets have also been exceeded.

Nature’s Packaging supports the use of sustainably sourced lumber for North America’s shipping and packaging needs. Contact them here

Resources:

Citi Announces $100 Billion, 10-Year Commitment to Finance Sustainable Growth: http://www.citigroup.com/citi/news/2015/150218a.htm

Sustainable Forestry Standard: http://www.citigroup.com/citi/environment/images/docs/forestry.pdf

Deforestation and Greenhouse Gas Emissions: https://www.cfr.org/backgrounder/deforestation-and-greenhouse-gas-emissions

Source: Nature’s Packaging