Citi India set to launch sustainability-linked deposits in the near future
April 26, 2023: Citi India has announced that it plans to introduce sustainability-linked deposits in the near future, as part of its commitment to promoting sustainable finance.
The new deposits will be linked to the performance of companies with strong sustainability practices and will offer customers the opportunity to support environmentally and socially responsible businesses.
The bank has already started working on the necessary frameworks and is in discussions with several stakeholders to ensure that the new products meet the highest standards of sustainability.
This move by Citi India comes as a part of the bank’s global sustainability goals, which include a target of $500 billion in environmental finance activities by 2030.
Citibank India has announced its plans to launch sustainability-linked deposits in the near future, as part of its efforts to promote sustainability and support the country’s green initiatives.
The bank aims to offer such deposits to its institutional clients, including corporate and small and medium-sized enterprises (SMEs).
The sustainability-linked deposits will be linked to certain environmental, social, and governance (ESG) parameters and will provide clients with financial incentives for meeting or exceeding sustainability targets.
With this move, Citi India joins a growing list of financial institutions that are actively promoting sustainable finance and green investment in India.
The bank has also stated that it is committed to achieving net-zero greenhouse gas emissions in its own operations by 2050.
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