1、2019 Environmental, Social and Governance Report Our Approach to ESG Solutions for Impact Page 5 Letter from Our CEO Page 7 Citi at a Glance Page 9 Our Approach to Creating Positive Impact Page 23 Inclusive and Resilient Communties Page 43 Environmental Finance Whats Inside I have every confidence t

2、hat, as a company and a society, we will emerge stronger and more committed to the collective good than ever before. Michael L. Corbat, CEO 2 Citi 2019 ESG Report Contents Our Approach to ESG Solutions for Impact How We Do Business Appendices About This Report This report illustrates how we bring ou

3、r mission to life through our business; it covers our environmental, social and governance (ESG) activities, performance and approach for calendar year 2019, focusing on the issues we have determined to be of greatest importance. This report has been prepared in accordance with the GRI Standards: Co

4、re option. We also used the United Nations (UN) Global Compact and the UN Guiding Principles on Business and Human Rights frameworks to guide our reporting. (See related indexes.) We have embedded the UN Sustainable Development Goals into relevant sections of the report where Citi plays a direct rol

5、e in making progress toward specific goals. Additionally, we include an index that indicates where report content is specifically aligned to the recommendations of the G20 Financial Stability Boards Task Force on Climate-related Financial Disclosures. Finally, this report supplements information pub

6、lished in our 2019 Annual Report. All reporting and performance data are limited to information for the owned and operated facilities of Citigroup Inc. and its subsidiaries, unless stated otherwise. Additional information about Citi can be found on our website. For more information on Citis ESG init

7、iatives, please visit or contact: Global Public Affairs Citigroup Inc. 388 Greenwich Street New York, NY 10013 How We Do Business Page 54 Environmental and Social Risk Management Page 62 Human Rights Page 70 Operations and Supply Chain Page 86 Digital Innovation Page 96 Talent and Diversity Page 114

8、 Ethics and Culture Appendices Page 125 2019 Sustainable Progress Strategy Scorecard Page 127 GRI Content Index Page 141 Task Force on Climate-related Financial Disclosures Index Page 142 United Nations Global Compact Index Page 144 United Nations Guiding Principles Reporting Framework Index Page 14

9、8 Assurance 3 OUR APPROACH TO ESG Page 5 Letter from Our CEO Page 7 Citi at a Glance Page 9 Our Approach to Creating Positive Impact 4 Citi 2019 ESG Report Contents Our Approach to ESG Solutions for Impact How We Do Business Appendices 5 Letter from Our CEO That businesses will ultimately be more su

10、ccessful and profitable when they take into account the broader needs of society is not a new idea. But that principle gained new traction in the latter half of 2019, when the Business Roundtable gave fresh voice to it. The new statement of corporate purpose said simply that companies should take th

11、e interests of all stakeholders including sharehold- ers, colleagues, clients, suppliers and communities into account when making decisions. Who could have imagined just how urgent responsible companies commitment to serve the greater good would be, less than a year later? As I write this letter, we

12、 are in the midst of the COVID-19 pandemic, which will have a wide-ranging and long-lasting impact on every part of the world. Our global society and economy are being tested to an unprecedented degree. Managing through this crisis will require the best of what we, as a company and as a society, hav

13、e to offer. I know that the progress we have made in the past has meaningfully contributed to our ability to weather the present storm and, ultimately, to recover from it. We know that this crisis is having a dispro- portionate impact on our most vulnerable communities. To help mitigate widespread e

14、conomic distress, our society needs to find better ways to address wealth inequality and provide more people with affordable access to financial products and services. Programs like Cobro Digital (CoDi), launched in Mexico last year, have become increasingly relevant as a means of bridging the gap b

15、etween the digital haves and have-nots. Today, CoDi is enabling more than 5.5 million digital clients to send invoices and payments using QR codes on their phones at no cost. Citibanamex is one of the leading banks behind this innovative initiative and has had a leadership role since its inception.

16、Were also continuing to support entre- preneurs through efforts like Scaling Enterprise, a $100 million loan guarantee facility and joint effort with the U.S. International Development Finance Corporation (the former OPIC) and the Ford Foundation. Scaling Enterprise provides early-stage financing in

17、 local currency to companies that expand access to products and services for low-income communities in emerging markets. To complement our lending activities, our new $150 million Citi Impact Fund will make equity invest- ments in socially oriented startups and companies. And we continue to champion

18、 philan- thropic causes to increase economic opportunity. An urgent need is to help narrow the gap between the skills and knowledge many young people have and what they will need in order to succeed in this century. Thats why one of our largest philanthropic focus areas is work- force development. L

19、ast year, the Citi Foundation completed its three-year, $100 million Pathways to Progress initiative to invest in preparing youth for 21st century jobs, and well soon expand that program with an additional new commitment. Last year, Citi and the Citi Foundation gave $147 million in grants and charit

20、able contributions. I know that these efforts will continue and will even accelerate as will the time and dedication that my Citi colleagues pledge to supporting their communities. We have committed to build on the nearly 1 million hours of service contributed by Citi volun- teers in 2019, virtually

21、 and once we can safely re-engage with our communities. We also strongly believe that our most important impact comes from our core business activities, including the financ- ing of critical infrastructure, affordable housing, environmental finance and small business lending. The economic recovery w

22、ill be further strengthened by institu- tions commitments to addressing an increasingly acute shortage of affordable housing. Last year, Citi provided more than $6 billion in loans for affordable housing projects in the U.S., making our firm the largest U.S. affordable housing lender for the 10th co

23、nsecutive year. Its also my hope that one outcome of our present predicament will be an even deeper respect for science and a recogni- tion of the investments in technology we will need to make to help our world thrive in the years ahead. Innovation will be essential as we look to confront the many

24、other challenges that critically impact us all chief among them, climate change. Our health, our economic success and our environment are all inextricably linked, which is why, despite the current challenges, we must sustain our efforts to fight climate change. In 2019, Citi exceeded our $100 billio

25、n goal to help reduce the impacts of climate change through environmental finance activities around the world more than four years ahead of schedule. Still, we know much remains to be done, quickly, and so we are as committed as ever to bringing our resources and capacity for innovation to bear as w

26、e seize the opportunity to even more effectively and creatively tackle this urgent challenge. Banks have a central role to play, both in helping people and communities through the current pandemic and in the ultimate recovery. At Citi, we will continue working with all of our clients and customers i

27、ndividuals, small businesses, companies and governments around the world to manage the business and economic fallout of this pandemic. We will provide the necessary support, credit and assis- tance programs that people, institutions and communities will need to rebuild. I write this letter with the

28、utmost humility, as I know the work ahead will require even more focus, more dedication, more partnership and more commitment than at any time in recent memory. But we will use the lessons of the past and the depth of our partnerships to guide us. I have every confidence that, as a company and a soc

29、iety, we will emerge stronger and more committed to the collective good than ever before. I know our citizens, our companies and our governments are resolved to do nothing less. My colleagues at Citi and I are more than ready to help lead the way. Michael L. Corbat Chief Executive Officer Letter fro

30、m Our CEO (continued) 6 Citi 2019 ESG Report Contents Our Approach to ESG Solutions for Impact How We Do Business Appendices Responsibly provide financial services Serve as a trusted partner Create economic value Supporting clients in more than 160 countries and jurisdictions Largest proprietary glo

31、bal network, with a client base of 13,000 and a presence in more than 90 countries Facilitates $4 trillion of transaction flows daily Serves more than 90% of global Fortune 500 companies Serves more than 110 million customers Digital leader in credit cards, retail banking and wealth management acros

32、s 19 markets Strategic focus on the U.S., Mexico and Asia Institutional Clients Group Our Approach to Creating Positive Impact Global Consumer Banking Digital and mobile at the core of a simpler, better client experience Diverse workforce of close to 200,000 to serve our clients and customers More t

33、han 200 years of experience Executing a business model that adds value to society Reporting transparently and learning through dialogue Taking a stand on issues that matter and driving solutions ! ? Maintaining a focus on ethical decision- making and responsible business practices Catalyzing innovat

34、ion through strategic philanthropy and employee engagement Citi at a Glance 7 Citis Value Proposition A Mission of Enabling Growth and Progress: What You Can Expect from Us we released our first Climate Change Position Statement in 2007. In 2017, our CEO signed a statement of support for the recomme

35、ndations of the Task Force on Climate-related Financial Disclosures, with the understanding that Citi needed to continue to build on its strong foun- dation of climate-related activity and disclosure. Our objective is to understand the potential financial risks to Citi, our clients and communities f

36、rom climate change, how Citi and our clients may be contributing to climate change, and how we can help our clients transition to a low-carbon economy. We conducted a TCFD gap analysis and identified the climate scenario analy- sis recommendation as a key area of development for Citi and our sector.

37、 We collaborated with the UN Environment Programme Finance Initiative (UNEP FI) a global, UNprivate sector collaboration with more than 240 finance institutions as members and 15 other banks to design a banking-sector climate scenario analysis pilot project. As part of this pilot, we looked at trans

38、ition risk under 1.5C and 2C scenarios for our North American oil and gas exploration and production portfolio and our U.S. power portfolio, as well as physical risk under a 4C scenario for our U.S. power portfolio. In late 2018, we published our first TCFD report, Finance for a Climate-Resilient Fu

39、ture, in which we disclosed our TCFD implementation across the four pillars of Governance, Strategy, Risk Management and Metrics and Targets, including the results of our scenario analysis pilot project. Following the release of that report, we convened a half-day investor dialogue in February 2019

40、with Ceres, a climate- focused nonprofit organization, during which a group of institutional and ESG investors provided feedback on our TCFD implementation and disclosures to date. We learned that investors valued the level of transparency, effort and detail provided in our reporting, appreciated th

41、e standalone report and were interested in seeing TCFD references in financial reporting and our Proxy Statement. We elicited these investors feedback on a number of potential actions Citi could take on our TCFD journey, including: Continuing to enhance our climate risk governance Supplementing our

42、scenario anal- ysis pilot work with a shorter-term climate stress test, given the lack of alignment between the shorter time horizon of loans and the longer time horizon of climate change scenarios Looking into third-party method- ologies, including the 2 Investing Initiatives PACTA tool and the Par

43、tnership for Carbon Accounting Financials, to analyze the alignment of our portfolio with the Paris Agreement goal to limit warming to well below 2C, and/or to measure the carbon associated with our loan portfolio Enhancing our approach to analyzing the climate risk of our clients in carbon-intensiv

44、e sectors Providing more metrics and setting targets related to the carbon intensi- ty of our credit portfolios Conducting an assessment of physi- cal climate risk and risks to Citis own facilities, as a complement to our business continuity planning Collaborating with others to nor- malize climate

45、disclosure, further developing and standardizing climate scenario analysis and reporting, and disclosing our learnings as we go With feedback from our investors on how we might prioritize these numerous potential next steps, along with ongoing conversations with regulators and our lessons learned fr

46、om our first phase of implementation, in 2019 we embarked on phase two of our TCFD efforts. Our 2020 TCFD implementation plan includes activities across the following three integrated pillars and builds in opportunities for investor feedback, peer collaboration and quick learning so that we can cour

47、se correct as needed: 1. Risk Policies Integrating climate risk further into Citis risk manage- ment approach; reviewing and updating our ESRM Policy, including Sector Standards, to ensure that our engagements with client sectors are guided by specific requirements for higher-risk sectors, such as c

48、oal mining and coal-fired power generation 2. Climate Scenario Analysis Utilizing climate scenario analysis to help understand differentiated client impacts (or resilience) to stresses from physical or transition climate risk 3. Carbon Measurement Assessing and testing different emerging methodologi

49、es to evaluate portfolio carbon and portfolio decarboniza- tion pathways International Climate Reporting Awards Citi was one of six global financial institutions awarded an International Climate Reporting Award for inno- vation and best practices. Citi was recognized for reporting related to climate risk assessment and risk management in our 2018 TCFD report. The awards were jointly organized by the French Environment and Energy Management Agency and the French Ministry for Eco