Citizens Financial Group, Inc. (CFG), a commercial lender, has announced a sustainable finance target of $50 billion by 2030, with $5 billion allocated specifically for green financing.
CFG’s objective is to finance and facilitate environmental and social initiatives that promote sustainability, including affordable housing, support for small businesses, and community development projects. Out of the total target, $5 billion will be dedicated to green initiatives that support a lower-carbon future, including investments in renewable energy, clean technologies, and green buildings.
Additionally, CFG has committed to engaging with corporate clients in high-emitting sectors on climate-related topics, with plans to engage all of its oil and gas clients by the end of 2024. The lender has set a goal to achieve carbon neutrality by 2035.
CFG also offers sustainability-focused banking products, such as Citizens’ Sustainable Deposits and Carbon Offset Deposit Account products, to help clients incorporate their sustainability goals into their banking strategies.
By FCCT Editorial Team
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