Citibank Announces New Environmentally Friendly Financing Policy

Date: January 22, 2004

Source: News Room

Citigroup Inc. (NYSE: C) has announced plans for a new "environmentally friendly" approach to financing projects, particularly in developing-world nations. The company's policy change follows years of criticism from the Rainforest Action Network. Under its new guidelines, Citigroup will not finance projects "located within critical natural habitats" unless borrowers can show they "will not significantly degrade or convert the critical natural habitat."
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