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PERSPECTIVES
Action for Racial Equity
December 31, 2023
Between 2020 – 2023, Citi and the Citi Foundation led a three-year $1 Billion+ commitment to pursue a range of business and philanthropic initiatives designed to help close the racial wealth gap in the U.S.
Highlights
2020
- Our $1 Billion Commitment:
Citi launches more than $1 Billion in strategic initiatives to help close the racial wealth gap in the U.S.
2021
- Early Results: Six months into the commitment, Citi shares initial results generated through Action for Racial Equity (ARE)
- Year One Progress Report: A deep dive of progress highlights one year into the ARE commitment
- An Update on Our Progress: See updates on Action for Racial Equity reported as part of the annual Citi ESG Report in 2022.
- Racial Equity Audit Announcement: Citi demonstrates ongoing support for measurement and transparency by committing to conduct a racial equity audit.
2022
- Action for Racial Equity - Two Years Later: Citi CFO, Mark Mason, reflects on the progress of ARE two years in, noting where Citi made progress and areas for continued work.
- Two Year Progress Report: Read the full report outlining areas where Citi has made progress in the ARE commitment, two years in.
- Racial Equity Audit Results: After consultation with investors, Citi took an important step by committing to conduct an independent third-party racial equity audit.
2023
- 2023 Highlights: In the 2023 ESG report, we share progress updates since the last ARE update.
- Re-examining Citi's Historical Ties To Slavery in the U.S: Consistent with our Action for Racial Equity commitment and with the assistance of an independent firm, we updated research that was first conducted two decades ago to understand possible ties Citi may have had to the institution of slavery in the U.S.
- At-A-Glance - Our Collaboration with MDIs: An overview of our collaborative approach to working with Minority Depository Institutions.
While we met and exceeded our initial three-year commitment, we know our work to help close the racial wealth gap is not over. Citi is doing its part to maintain momentum in three key ways.