Citi Creates Sustainability Chief as CEO Seeks Radical Action
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Citigroup Inc. promoted an executive to the new role of chief sustainability officer as CEO Michael Corbat called on world leaders to take “more radical action” when it comes to mitigating the effects of climate change.
Val Smith will report to Ed Skyler, executive vice president of global public affairs, according to a bank spokeswoman. Corbat, the chief executive officer, said Wednesday at the Bloomberg Global Business Forum in New York that governments should create incentives for companies to adopt sustainable practices rather than relying on punishments like carbon tariffs.