Citi partners with Taronga to tackle biodiversity crisis

Sydney – Citi has today announced it is extending its partnership with Taronga Conservation Society Australia until 2024, working together to solve the increasing threat of biodiversity and habitat loss.

Citi Research shows US $44 trillion of economic value generation is moderately or highly dependent on nature loss. Australia ranks in the top 10 countries worst impacted by nature loss, with events in reefs, like coral bleaching, being key contributors to this damage.

Commenting on the partnership, CEO of Citi Australia and New Zealand, Marc Luet, said: "Globally, Citi has strong commitments to the environment, with a Net Zero by 2050 commitment and $1 trillion sustainable finance goal.

"Our work with Taronga gives us a uniquely Australian opportunity to protect our national treasure – The Great Barrier Reef – while meeting our global goal of tackling the biodiversity crisis."

Taronga is the leading organisation in Australia applying cryopreservation technologies to reef management, restoration, and research.

Nick Boyle, Divisional Director Welfare Conservation and Science, Taronga Conservation Society Australia, said: "We're delighted to welcome Citi back as a partner this year. At Taronga, we acknowledge the shifts that need to be made are going to be made not as one entity but rather through partnership across individuals, groups, and organisations.

"We're very proud to have Citi supporting Taronga's Reef Recovery program and helping us secure the biodiversity of the Great Barrier Reef – one of the most important ecosystems on earth."

Citi has been partnering with Taronga as a Principal Sponsor since 2020 focusing on protecting koalas and their natural habitats, particularly following the devastating bushfire events which placed koalas on the endangered species list in NSW and Queensland.

"We are proud of our work with Taronga to support koala conservation work and are pleased that protecting this native species and their habitat has become a key item on the political agenda," Mr Luet said.

"Biodiversity loss is a serious environmental concern, with notable risks to our economy, businesses, and communities. Partnering with Taronga to take action on this issue is a natural extension of our partnership and honours the commitment we have made to our clients, employees, and community that we will be a true partner on the transition to a lower-carbon economy.

"We look forward to working closely with Taronga over the next two years to make positive change and protect one of the great natural wonders of the world."