Citizens Financial Group, Inc. announced Tuesday a $50 billion sustainable finance target, which includes $5 billion in green financing for projects where it does business – including the Rochester area – by 2030.
To contribute to a more sustainable future, Citizens said it will finance and facilitate environmental and social initiatives, such as affordable housing, support for small businesses and community development projects.
It also encompasses $5 billion in financing and facilitation for green initiatives that support a lower-carbon future such as renewable energy, clean technologies and green buildings.
Additionally, the company announced that it will engage corporate clients in high-emitting sectors on climate-related topics. To start with, it will engage all its oil and gas clients by the end of 2024. In addition, Citizens has committed to achieving carbon neutrality by 2035.
“Our approach to sustainability is grounded in the Citizens Credo, uniting our values and purpose while creating opportunity to use our reach, innovation and insights to position those we serve for long-term success,” said Bruce Van Saun, Citizens’ chairman and CEO, in a release. “This includes working to ensure that our colleagues are ready to help our clients prepare for and finance their own transitions to a lower-carbon economy.”
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