More info on Citi
Citi are the world's 2nd biggest fossil fuel funder at $285 billion since 2016
The climate crisis is getting worse at breakneck speed. And Citi is cutting the brakes. Jane Fraser (CEO of Citi) is setting reduction targets that are bolder than rival banks. But the science is clear, there can be no new fossil fuels extracted if we want to stay under 1.5C. And Citi is continuing to give billions of dollars to fossil fuel companies who are drilling for more oil, gas and coal. That means more destruction of land, homes, and the climate. But here’s the thing: fossil fuel companies desperately need Citi’s money, but Citi doesn’t need fossil fuel companies. Plus, fossil fuels are becoming a riskier and more outdated investment.
Citi is enabling climate criminals like Total, Shell and Adaro. Adaro is an Indonesian coal company, which has a business plan to release 2.2 billion tonnes of CO2, almost the equivalent of the annual emissions of India. That aligns Adaro’s business plan with 5/6C of warming – a non-livable world. Yet, Citi is giving them billions of dollars to continue destroying natural habitats.
That’s why now, bank staff are confidentially speaking out their bank’s role in the climate crisis.
See how activists are pressuring Citi here:
See all of Citi’s destructive investments here: