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Citi plans to get tougher on oil and gas clients
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Citigroup will be tougher on clients in the oil-and-gas industry, changing the way the bank asks Big Oil to measure how much pollution their efforts spew into the air as a requirement for receiving financing while the world tries to curb global warming.
Citi said in a 19 January report that it aims for an “absolute reduction” in emissions from companies across its energy loan portfolio of 29% by 2030 from 2020. Citi did stress that dropping oil and gas clients if they are deemed to fall short of such targets would only be...
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