Strengthen Citi's policies and practices in order to become an anti-racist institution

Advancing racial equity requires a more intentional focus on the challenges faced by communities of color and a commitment to becoming an anti-racist institution. Citi is taking a hard look at its own policies and practices to actively identify potential bias to help level the playing field for communities of color.

What Citi will do:

  • Strengthen due diligence processes for project-related financing to address environmental justice and social impacts on communities of color.
  • Develop standards for inclusive software design that eliminate bias and help deliver equitable outcomes to the communities Citi serves.
  • Expand Citi’s capital market activities with minority-owned broker dealers, assisting with their business and franchise development.
  • Work with marketing, communications and legal partners to establish guidelines that increase representation of people of color on Citi accounts and within their leadership teams.
  • Establish a council of senior leaders from across the company to develop additional product innovations, assess performance gaps and hold businesses accountable for Action for Racial Equity commitments.

What Citi Has Done So Far:

  • Embedding racial equity in our policies and business practices
    • Announced a third-party racial equity audit of the Action for Racial Equity initiatives underway across the company to address the racial wealth gap in the U.S.
    • Announced Citi Global Wealth Investments’ steps to help embed racial equity in asset management, including a goal to onboard 5-15 diverse owned or managed fund managers to Citi’s platform — $200 million in client capital is expected to be invested in these funds by the end of 2023.
    • Since January 2020, Citi has issued $40B of USD debt and capital and included Black-owned broker-dealers in 85% of all transactions, reinforcing the firm’s commitment to advancing racial equity in the capital markets. Every transaction included at least one minority, women or disabled veteran-owned firm.
    • Updated the Citi Environmental and Social Risk Management Policy for project-related financing to strengthen due diligence processes for environmental justice and social impacts on communities of color.
    • Established a new Citi Ventures team that will help digital and inclusion units across the bank develop financial technology solutions that center racial equity in design strategy and data protocols.
    • Piloted a municipal finance modeling training program, in collaboration with minority-owned, municipal broker-dealers and advisors, to support talent development, promote networking, and deliver access to industry-leading bankers in the field.
    • Obtained detailed diversity data from the majority of Citi’s U.S. law firm partners who make up more than two-thirds of our U.S. Legal spend. This data will allow Citi to identify opportunities to increase representation of diverse attorneys on Citi matters.
    • Began working with advertising agency partners that comprise the largest portion of Citi’s marketing spend to increase diverse representation of agency teams, including senior leadership, and to help ensure diversity in Citi marketing materials.
    • Announced participation in MLT's Black Equity at Work Certification, a first-of-its-kind, standard and roadmap for employers that want to achieve Black equity, internally, and support Black equity in society. Citi is the only large U.S. bank among the first 50 companies to participate.
  • Engaging in multi-sector collaborations that aim to help address racial equity
    • Citi was one of the first institutions to sign the Office of the Comptroller of the Currency’s Project REACh Pledge to promote the vitality of Minority Depository Institutions and homeownership.
    • Citi signed on to the Corporate Call to Action: Coalition for Equity & Opportunity (CEO), launched by the Connecticut State Treasurer and the Ford Foundation.
    • Announced participation in Management Leadership for Tomorrow’s (MLT) Black Equity at Work Certification, a certification formed to hold companies more accountable for making progress around equity. Citi also is the only large U.S. bank among the first 50 companies to participate.