Citigroup Reports Huge Share Of Its Clients Are Not Ready To Reach Key Climate Targets
Citigroup to Lay Off Almost 300 Workers In New York City
NICK POPE
CONTRIBUTOR
March 28, 2024
Citigroup is warning that more than 40% of their energy sector clients are unprepared for the “net-zero” emissions transition, according to the financial institution’s latest climate report.
Forty-two percent of the bank’s energy clients do not have a substantive emissions reduction plan, and an additional 29% have a plan that they may or may not be able to actually carry out, according to the 2023 Citi Climate Report, released Thursday. Only 8% of the firm’s clients in the energy sector have major emissions reductions plans and also the clear ability to execute those plans.
Citi — the fourth-largest bank in the U.S. — issued its climate report signaling that most energy clients may not be prepared to execute emissions reduction plans just weeks after the Securities and Exchange Commission (SEC) approved a final rule requiring medium-sized and large public corporations to disclose climate change-related risks and data on the emissions created directly by their businesses in financial reports.
https://dailycaller.com/2024/03/28/citi-emissions-reductions-energy-clients-net-zero/
