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Net Zero

Our Commitment to Net Zero

In March 2021, Citi made a commitment to reach net zero greenhouse gas emissions by 2050, including our own operations by 2030. For a global financial institution like Citi, a net zero commitment means working with our clients and helping them in their own low-carbon transitions. 

Our Net Zero Framework

  • Calculate Emissions

    Calculate baseline financed emissions for each carbon-intensive sector

  • Transition Pathway

    Identify the appropriate climate scenario transition pathway

  • Target Setting

    Establish emissions reduction targets for 2030 and beyond

  • Implementation Strategy

    Engage with and assess clients to determine transition opportunities

  • External Engagement

    Solicit feedback from clients, investors and other stakeholders as this work continues to evolve

OUR APPROACH

Our approach is guided by Citi’s Net Zero Transition Principles, which reflect our aim to reduce emissions with urgency in the near-term, while also driving a responsible and orderly transition that minimizes economic disruption. We expect these principles to evolve as we collectively learn with our clients, peers, investors and other stakeholders.

Citi Net Zero Transition Principles

As we transition our business to net zero greenhouse gas emissions by 2050, Citi is guided by the Transition Principles below. We will continue to evolve these principles as we collectively learn with our clients, investors and other stakeholders. We recognize that in addition to private sector action, a net zero future will also require public policy action and technology solutions. While we acknowledge that fully transitioning the global economy will take decades, we understand the urgent need for near-term actions that will deliver the emissions reductions required. We will uphold our mission of enabling growth and progress and will be proactive in helping to facilitate an orderly transition, while also contributing to broad sustainable development objectives.

  • Net Zero Leadership

    Set net zero targets that are transparent and aligned with climate science, consistent with our leadership in sustainability over the past two decades. Help support the mobilization of capital to emerging markets and developing countries for the energy transition.

  • Focus on Transition

    Partner with our clients in their efforts to decarbonize across different stages of their transitions, and help them navigate the challenges they face. Assist clients and governments as they evaluate the carbon-intensive assets in their portfolios and consider responsible asset retirements or divestments.

  • Social Responsibility

    Strive to ensure that our net zero transition is consistent with other sustainable development objectives. We will also assess how our financing decisions could affect communities dependent on carbon-intensive sectors, balancing the need for carbon reduction with the potential negative impacts on access to energy and economic dislocation. We will be mindful of the need for a just transition that takes into account potential impacts on local jobs and economies.

  • Client Transparency

    Engage with our clients in a transparent manner to help them understand our own net zero objectives and how we assess client transition activities. Any changes to a client relationship will be driven by a holistic consideration of our business relationship, including related to risk profile and returns. We will continue to communicate with clients in a transparent manner.

  • Constructive Engagement

    Work with public sector clients and other stakeholders to support appropriate climate policies, regulations and the scaling of new technologies that are required for an orderly transition.

  • Disclosure

    Report annually on our progress and our transition as we learn.

For more information about our approach to net zero metrics calculations, please see our Net Zero Metrics Methodology.

2023 Climate Report

Citi’s 2023 Climate Report highlights the progress we are making on our net zero commitments and how we are balancing climate risks and opportunities in our business.

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