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Citi Perspectives for the Public Sector
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2015 – 2016
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efficiency, water conservation, sustainable
transportation, affordable green housing, green
bonds and other sustainability activities. In our
first year alone we helped to lend, invest and
facilitate nearly $24 billion to environmental
projects and activities around the world.
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We understand that establishing the credibility
to lead environmentally friendly financial
intermediation must begin with action at home;
our goals include solid and ambitious footprint
objectives for ourselves and for our supplies. In
addition, as part of our Citi for Cities company-
wide urban development initiative, we are
partnering with local governments, businesses
and communities to identify and implement
innovative solutions that enable cities to solve
their infrastructure, social and environmental
challenges. For example, we helped raise $862
million for Central America’s first urban rail
system — the Panama Metro — which will cut
greenhouse gas emissions and drastically
reduce commuting times for workers.
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Citi, of course, applauds global philanthropic
efforts and the surge in global Corporate Social
Responsibility. We are, in fact, one of the top
corporate donors in the United States; Citi
and the Citi Foundation provided nearly $170
million in combined charitable giving in 2014.
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However, philanthropy and non-profit giving
is likely to hold relatively constant at about
$30 billion.
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The absolute size of philanthropy
limits its potential to close the developmental
funding gap. The only way forward is for global
for-profit institutions — banks, corporations and
institutional investors — to embrace the belief
that social returns and financial returns are not
incompatible. In fact, over the next decade and
a half, the ability of the public sector to partner
with the private sector in its development
objectives, and for the private sector to
simultaneously pursue social and financial
returns, will determine the success of the United
Nations’ sustainability goals. While Capital
Markets will likely be the dominant tool, “Doing
good, while doing well” must be the mantra for
SDG success.
Jay Collins is Vice Chairman of Corporate and
Investment Banking at Citi. He participated in
both the Addis Ababa FfD3 meetings and the
SDG meetings at the UNGA this year.
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Citibank
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Citibank
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Citi Global Citizenship Report
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OECD, “Development Co-operation Report 2014: Mobilizing Resources for Sustainable Development”