Hong Kong/Singapore – Following the recent launch of a new Sustainable Time Deposit solution in Asia Pacific, Citi client and life sciences and diagnostics company Agilent Technologies has booked the sustainability-focused deposit program in Singapore as it furthers its commitment to sustainability.
“At Agilent, we are committed to sustainability and environmental protection since our founding,” said Sally Shung, Associate Vice President, Assistant Treasurer for APAC and EMEA region, Agilent. “Formalizing this sustainability deposit program in Singapore demonstrates the company’s vision of advancing our ESG commitment, from net-zero emissions to the Science Based Targets initiative of 1.5°C. Our goal is to maximize the positive impact of our business, contributing to the United Nations SDGs in a meaningful way. Agilent is always looking for opportunities to develop innovative sustainable financing solutions and we are proud of our strategic partnership with Citi on this initiative.”
This is the first sustainability-linked deposit globally for Agilent to align its treasury operations with its 2050 net-zero commitment by partnering with banks with a portfolio of sustainability initiatives.
Funds deposited into Citi’s Sustainable Time Deposit solution 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. These frameworks support the United Nations SDGs.
“Citi and Agilent Technologies have a strong and long-standing partnership in Asia Pacific. We are delighted to have the opportunity to extend this partnership and support Agilent in advancing the firm’s sustainability goals and priorities,” said Sandip Patil, Asia Pacific Head of Liquidity Management Services, Treasury and Trade Solutions, Citi. “Treasury teams are a strategic enabler for their businesses and treasurers are playing an important role in driving sustainability. Following the launch of the Sustainable Time Deposit solution in the region, we have seen strong client interest and look forward to working with our clients as they meet their sustainability commitments.”
Learn more about Citi’s Sustainable Time Deposit Solution.
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Agilent Technologies Inc. (NYSE: A) is a global leader in the life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward advancing the quality of life. Agilent’s full range of solutions includes instruments, software, services, and expertise that provide trusted answers to our customers' most challenging questions. The company generated revenue of $6.32 billion in fiscal 2021 and employs 17,000 people worldwide. Information about Agilent is available at www.agilent.com
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