Energy Finance Provider of the Year
In the past two decades, Citi’s industry expertise has enabled it to create with partners innovative finance products that have proven to be game-changers for the energy sector. For instance, it has partnered with energy project development and investment firms to create revolving lines of credit that can be utilised to provide upfront capital for energy efficiency and renewable energy projects in the public sector.
By providing streamlined access to upfront capital, Citi has expanded in its role as a leading energy finance provider, not only for municipal and nationwide projects, but also for universities, healthcare organisations and state and local governments. Its innovative financing mechanisms have helped unlock investments in energy efficiency and clean energy projects and will facilitate reductions in energy consumption and carbon footprints.
Citi also developed in 2015 a $100bn strategy to be implemented over the next 10 years for lending, investing and facilitating activities focused on mitigating climate change and other sustainability solutions. The company has long been ahead of the curve on clean energy finance. It was one of the first major banks to set reduction goals for energy, waste and water. In 2003, it was one of 10 global banks—and the only U.S. company—to sign the Equator principles, a framework to help financial institutions manage environmental and social risk in project finance. One of its biggest focus is cities–and it has partnered with the WRI Ross center for sustainable cities and the C40 sustainable infrastructure finance network to think about new ways to build and finance infrastructure in cities.