— Right now, Citi staff are speaking out confidentially on Citi’s fossil fuel funding. You can take part by emailing confidential@bankonourfuture.org now —
What does the research show?
The 2023 Banking on Climate Chaos report is just out. It ranks the biggest global banks on the amount of fossil fuels they’re funding around the world. Citi is the #2 biggest fossil fuel funding bank in the entire world – that’s $333 BILLION to the fossil fuel industry since 2016 – with a staggering $34 billion last year alone. It’s also #1 for funding oil and gas extraction in Africa, and #1 in the Amazon.
That money flows freely into the hands of fossil fuel companies like Exxon and Shell – both of whom are ignoring science and increasing their fossil fuel extraction. The evidence is showing that despite all of Citi’s green promises, it’s not as green as it says it is.
I knew Citi lent money to fossil fuels, but I had no idea it was that much – Citi employee, 4 years.
It’s hitting the headlines
The report is being covered by global news right now. Here are a few links to check out:
How is fossil fuel funding affecting Citi?
Citi hasn’t got away with this for free. Citi’s fossil fuel addiction is creating massive kickback from campaigners, investors and the wider public:
- HERE’s a piece featuring in the Financial Times’ Most Read section about Nuns challenging Citi’s aggressive fossil fuel expansion.
- HERE’s a major piece of analysis showing that Citi is the #1 funder of new coal – the most dangerous fossil fuel.
- HEREs a piece of analysis showing that Citi is the #1 funder of fossil fuel expansion in Africa. It’s also the worst in the Amazon.
- HERE’s students kicking back against Citi hiring on their campuses whilst still funding fossil fuel expansion
- HERE’s the NY Mets campaign to get the team to drop Citi as a sponsor: “The Mets are contributing to polluting the planet by partnering with Citi.”
The task is clear. Citi must stop bankrolling climate destruction now.
— Right now, Citi staff are speaking out confidentially on Citi’s fossil fuel funding. You can take part by emailing confidential@bankonourfuture.org now —