Citi launches deposit solutions to support sustainability

Wednesday 25 May 2022 14:05 CET | News

American banking group Citi has announced the launch of new deposit solutions designed to assist clients in investing excess cash as part of their sustainability agenda. 

The two new deposits – Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) – are based upon Citi’s green and social bond frameworks, supporting the Sustainable Development Goals (SDGs). 

Funds invested into the deposits are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework. 

Types of projects being financed include:

  • Green projects including renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation. 

  • Social projects that expand access for low-income communities and women in emerging markets including affordable basic infrastructure for water/sanitation and digital connectivity, as well as essential services such as healthcare, education, affordable housing, and financing for entrepreneurs and smallholder farmers. 

  • Affordable Housing projects in the US including the construction, rehabilitation, and/or preservation for low and moderate income populations.

Both deposits are now available in the UK, Ireland, and Abu Dhabi. 

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Keywords: ESG, sustainability , investment, product launch
Categories: Banking & Fintech
Companies: Citi
Countries: World
This article is part of category

Banking & Fintech


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