Banking & Financial Institution a way ahead in ESG
- Aug 5, 2022 6:14 am GMT
The new Sustainable Time Deposit (TD) product, which Citi announced today, will be available to clients in the Asia Pacific region and will enable them to invest excess funds in accordance with their sustainability objectives.
In order to meet the criteria of Citi's sustainable financing frameworks, the new deposit options, which are initially only offered in Singapore and Hong Kong, will distribute their money to finance assets in a portfolio of green or social finance projects while offering competitive rates.
Renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation initiatives will all be funded by the deposits. Social initiatives will focus on increasing access to basic infrastructure that is inexpensive as well as to important services including healthcare, education, affordable housing, and finance for small-scale business owners and farmers.
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