Citizens Bank announces $50 billion sustainable finance target
New England Council member, Citizens Bank has announced plans to commit $50 billion in sustainable financing by 2030.
The Providence-based banking leader published the statement alongside a revitalized Environmental, Social, Governance (ESG) roadmap which it plans to follow to reach its goal of carbon neutrality by 2035. The plan includes investments in affordable housing, small business loans, and community development as well as climate-oriented engagement with corporate clients from high-emitting sectors. Citizens already offers an array of sustainable financial services, including its FDIC-insured Sustainable Deposits system which offers a diverse range of clients the opportunity to contribute to an environmentally and socially beneficial portfolio.
“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. “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.”
The New England Council would like to commend Citizens Bank for its commitment to Sustainable finance.
Read more in the Boston Business Journal.