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Citi to Reach $100 Billion Environmental Goal Four Years Early

  • Benchmark set to be attained this year instead of in 2023
  • Bank is first in U.S. to sign UN plan for responsible banking
London Mayor Frustrated With Attempts to 'Make City Poorer'
Photographer: Chris J Ratcliffe/Bloomberg

Citigroup Inc. said it will reach a long-term goal of financing $100 billion worth of activities that reduce the impacts of climate change four years ahead of schedule.

The company, which also on Wednesday became the first major U.S. bank to support a set of United Nations-backed principles for responsible banking, now expects to meet its environmental-finance benchmark this year, it said in a statement. The bank originally expected to reach the goal in 2023.