Citi Statement of Supplier Principles
Citi and the global private sector have a tremendous opportunity to address global ethical, social, and environmental challenges through our core business operations.
Citi understands that as one of the largest financial services institutions in the world, we should lead by example. Citi aims to advance human dignity, reduce waste, improve efficiency, and reduce our carbon footprint, and we encourage these same best practices among our diverse base of suppliers. Citi recognizes the importance of integrating ethical, social, and environmental factors into our global procurement practices. Our goal is to drive excellence in these areas throughout our own institution and to positively influence our supplier institutions.
We recognize that sustainable business practices are not static but continually evolve. Our goal is to construct a flexible and sustainable supply chain initiative that will be continually enhanced with new knowledge and expanded levels of excellence.
Our sustainable supply chain initiative is anchored by the aspirational guidelines we have set forth in this Statement of Supplier Principles. We support adoption by our Suppliers of goods and services of their own codes or statements of best practices that include the following principles and core elements: Ethical Business Practices, Human Rights in the Workplace, Environmental Sustainability, Management Systems, and Implementation. We offer these principles with the knowledge that many of our suppliers have been pioneers in establishing robust supply chain standards and best practices. We acknowledge and thank these Suppliers for their leadership and example in establishing guidance and best practices.
As Citi has always required, our Suppliers must comply with all applicable laws, regulations and standards in the countries in which they operate. We recognize that the standards set forth in this document may differ from local laws and customs, and we expect suppliers to respect these standards within the context of the laws and cultural norms of their particular geography. This Statement of Supplier Principles is designed to complement similar internal standards that our suppliers may have implemented already or may be working towards. We pledge to work with our Suppliers towards these shared goals and encourage our Suppliers to continually improve their operations as is practicable under each Supplier’s unique circumstances.
Citi aspires to the highest standards of ethical conduct. We expect our Suppliers to aspire to these same standards in their business practices and daily interactions and to develop management training and implementation programs to assure that all employees and agents understand and adhere to these standards.
Citi supports the protection and preservation of human rights around the world and is guided by fundamental principles of human rights, such as those in the United Nations Universal Declaration of Human Rights and the International Labour Organisation (ILO) Core Conventions regarding child labor, forced labor, freedom of association, the right to organize and bargain collectively, equal pay and non-discrimination in the workforce. Our support for these principles is reflected in our policies and actions towards our employees, suppliers, clients and the countries where we do business.
Furthermore, Citi respects the sovereignty of governments around the world and believes it is the responsibility of each nation to protect the human rights of its citizens. We realize, however, that the laws of some countries where we do business differ from some global standards of human rights. In such circumstances, we expect our Suppliers to comply with local law and at the same time to strive to adhere to Citi’s standards.
Citi strives to support human rights through our supply chain by encouraging actions that are consistent with and further the objectives of the Citi Statement on Human Rights, and by using Suppliers whose corporate values are consistent with ours. We consider relationships with our Suppliers to be an opportunity to share best practices and believe in a continual process of learning, improving, and evolving these processes with respect to human rights. These best practices specifically consider:
As reflected in our commitment to the environment, Citi recognizes that environmental sustainability is integral to good business practices and production of world-class products. Citi also recognizes that climate change is a major economic, social and environmental challenge globally. Citi has set a target to reduce our own greenhouse gas emissions. We are also working with our clients to provide innovative solutions as they strive to reduce their emissions and monitor progress. We encourage our Suppliers to join us in similar sustainability efforts. Our target for Suppliers is to continuously maintain:
We encourage our Suppliers to institute targeted ethical, social and environmental programs with effective management systems (e.g., International Organization for Standardization (ISO), Eco-Management and Audit Scheme (EMAS), etc.) that utilize the best available techniques and practices to achieve sustainability and corporate social responsibility at all levels, and to strive to continuously improve their performance. We encourage Suppliers to clearly communicate the contents of this Statement of Supplier Principles, and their own internal standards that meet or exceed these principles, to their employees and contractors, and to offer adequate training, and utilize self-evaluation programs to assure conformity with standards and applicable laws.
This Statement of Supplier Principles sets forth guidelines for our current and future Suppliers. We encourage all our new and existing Suppliers to aspire to these guidelines and endeavor to make continual improvements. As the intent of this Statement of Principles is to increase ethical business practices and social and environmental sustainability throughout the supply chain, we will encourage our Suppliers to require their next-tier suppliers to acknowledge and implement parallel best practices and standards of conduct. We further encourage and challenge our Suppliers and their suppliers to offer and innovate new and better products and services reflecting ethical practices and sustainability attributes for Citi purchase at cost competitive pricing.
This Statement of Principles neither constitutes nor should be construed to constitute a contract and nothing contained or implied herein is intended or shall be construed to create or convey upon any person or entity, including employees, any benefits, rights, actions or remedies.