Frankfurt - Citi invested - 170 million in one of the "greenest" data centers worldwide. The data center will be built in Frankfurt. The investment is part of Citi's global $50 billion plan to address climate change. The completion is planned for March 2008.
"I am very proud that Frankfurt was chosen among sites of 52 other countries for this important and innovative operation", said Mayor Petra Roth.
It will save up to 25% percent on electrical energy consumption compared to conventional data centers. 16,000 megawatt hours will be saved each year, the equivalent needed to power 3,000 family homes.
"Our new data center will be our largest outside of the United States, but you won't know that from our electrical bills," said Harnett. The amount of carbon dioxide escaping into the atmosphere will be up to 11,000 tons less annually than conventional centers of that size. Savvy water management, including natural drainage of almost 90% of the rainwater, will save up to 46.5 million liters in water usage every year.
Considerations taken into account in selecting the site in Frankfurt Nieder-Eschbach, were the country's excellent electrical and data infrastructure, as well as its high security standards. "Germany fulfills the conditions we wanted for our data center to a tee," said Harnett. "Our decision to build here considerably strengthens Germany's position within Citi."
The new data center will employ 40 people, including 20 new hires. It will provide IT services of Citi's operations in Europe, the Middle East and Africa. "This data center shows, that we take serious our commitment for the environment. We were able to create a green facility within the same capital cost as that of a conventional data center. In addition the lower operating cost over the life cycle of the building is significant", said Sue Harnett.
The new data center will be built by the so called Gold-standards of LEED (Leadership in Energy and Environmental Design). LEED is the benchmark for sustainable building in the United States. "We see this project as part of our strategy to address global climate change," said Sue Harnett.
In May 2007 Citi announced a $50 million program to address climate change. Citi will invest up to $10 billion dollars to reduce its own environmental footprint. The goal is to reduce the greenhouse gas emissions from their more than 14,500 facilities worldwide by 10% by 2011. "As the world's largest financial service company, we're well aware of our responsibility in tackling climate change," said Harnett.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.