CITIGROUP INC. | Board adopt a policy to end new fossil fuel financing at CITIGROUP INC.

Status
13.03% votes in favour
AGM date
Resolution details
Company ticker
C
Lead filer
Harrington Investments, Boston Common Asset Management
Resolution ask
Set targets or plans
ESG theme
  • Environment
ESG sub-theme
  • Fossil fuel financing
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
United States
Resolved clause
Shareholders request that the Board of Directors of Citigroup adopt a policy by the end of 2022 committing to proactive measures to ensure that the company’s lending and underwriting do not contribute to new fossil fuel supplies inconsistent with fulfilling the IEA’s Net Zero Emissions by 2050 Roadmap and the United Nations Environmental Program Finance Initiative recommendations to the G20 Sustainable Finance Working Group for credible net zero commitments.
Supporting statement
Citigroup, as a member of the Net Zero Banking Alliance (NZBA), commits to align financing with a maximum temperature rise of 1.5 degrees Celsius.1 To close the gap between words and action, a change in policy is needed on financing of fossil fuel exploration and development.

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