News and analysis
February 19, 2015

Green Group Helps Citibank on $100-Billion Climate Effort

Citibank pledged Wednesday to pump $100-billion in loans and investment over the next decade into projects that reduce the impact of climate change under a plan co-developed by the Boston environmental nonprofit Ceres, The Boston Globe reports. The finance giant will seek opportunities to fund efforts to cut greenhouse-gas emissions, boost access to clean water, and build affordable housing.

Ceres partners with institutional investors to mobilize companies to adopt environmentally sensitive practices. Mindy Lubber, the advocacy group's president, said enlisting a bank as big as Citi—which has put $50-billion into clean-energy projects since 2007—helps "move the agenda" on climate issues by guiding other investors and businesses into clean energy.