The new unit, to be called the Natural Resources and Clean Energy Transition Group, will include the chemicals, energy, and power franchises.
In 2020, Citi launched a new business unit within its corporate and investment bank dedicated to ESG goals.
The COVID-19 pandemic has caused a surge in interest in companies that perform well on environmental, social and governance (ESG) targets. Other companies such as Mastercard and HSBC have also committed to net zero emissions by 2050.
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