Citi Launches New Deposit Solutions to Support Clients’ Sustainability Agenda
25 Maio 2022 - 05:54AM
Business Wire
Citi has announced the launch of new deposit solutions designed
to assist clients in investing excess cash as part of their
sustainability agenda.
The two new deposits – Sustainable Time Deposit (TD) and
Sustainable Minimum Maturity Time Deposits (MMTD) - deliver
competitive yields and are based upon Citi’s green and social bond
frameworks, supporting the Sustainable Development Goals
(SDGs).
Czeslaw Piasek, EMEA Head of Liquidity Management Services,
Treasury and Trade Solutions, Citi, commented: “Sustainability is
no longer an executive level only discussion. Finance and treasury
departments can play a strategic role in helping their firms to
deliver on Environment, Social and Governance (ESG) -related goals
and become more sustainable businesses. Our new series of deposit
solutions reflect Citi’s commitment to helping our clients advance
ESG commitments in their treasuries through a range of sustainable
financing- and ESG-linked investment services.”
Funds invested into the deposits are allocated to finance or
refinance assets in a portfolio of eligible green and/or social
finance projects, based on criteria set in the Citi Green Bond
Framework, Social Finance Framework and Social Bond for Affordable
Housing Framework.
Types of projects being financed include:
- Green projects including renewable energy, energy efficiency,
sustainable transportation, green building, and water quality and
conservation.
- Social projects that expand access for low-income communities
and women in emerging markets including affordable basic
infrastructure for water/sanitation and digital connectivity, as
well as essential services such as healthcare, education,
affordable housing, and financing for entrepreneurs and smallholder
farmers.
- Affordable Housing projects in the U.S. including the
construction, rehabilitation, and/or preservation for low and
moderate income populations.
David Tsui, EMEA Head of Deposits and Investments Products,
Treasury and Trade Solutions, Citi, added “The expansion of our
sustainable product suite is one of the steps we are taking to
provide more comprehensive sustainable cash management solutions to
clients. We are delighted to be partnering with treasurers to
explore new and innovative ways to support their sustainability
objectives.”
Both deposits are now available in the U.K., Ireland, and Abu
Dhabi.
Citi’s Frameworks are aligned with the recommendation of the
International Capital Market Association’s Green Bond Principles
and Social Bond Principles and have been assessed by a leading
independent ESG and corporate governance research, ratings, and
analytics firm.
As cash deposit transactions, TD or MMTD are not securities and
the return of the TDs and MMTDs are not linked to the return of the
underlying assets.
-ENDS-
About Citi’s Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables our clients'
success by providing an integrated suite of innovative and tailored
cash management and trade finance services to multinational
corporations, financial institutions and public sector
organizations across the globe. Based on the foundation of the
industry's largest proprietary network with banking licenses in
over 90 countries and globally integrated technology platforms, TTS
continues to lead the way in offering the industry's most
comprehensive range of digitally enabled treasury, trade and
liquidity management solutions.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. 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.
Remarks
There is currently no market consensus when assessing whether or
not a product can be classified as 'sustainable'. The legislation
and regulatory landscape is undergoing rapid changes which could
affect Citi's position when considering its investments in certain
assets. Citi may re-evaluate its asset pools, and all applicable
eligibility requirements in the future following regulatory
developments; this is to ensure compliance with legal requirements
when qualifying an asset as 'sustainable'. To the extent any such
changes are made, the updated framework will be published on
https://www.citigroup.com/citi/fixedincome/csd_securities.htm.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
https://blog.citigroup.com/ | Facebook: www.facebook.com/citi |
LinkedIn:www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20220525005481/en/
Media: Belinda Marks Belinda.marks@citi.com
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