Citizens Financial Plans $50 Billion in ESG Financing, Climate Goal Advice
- Bank’s 2030 financing goal includes $5 billion in green funds
- Lender is aiming to achieve carbon neutrality by 2035
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Citizens Financial Group Inc. is setting sustainability targets that stretch from now until 2035 — and it wants to advise companies in sectors that pump out greenhouse gases on how they can follow suit.
The bank wants to complete $50 billion in sustainable financing by 2030 and achieve carbon neutrality by 2035, according to a statement Tuesday. It also wants its bankers to advise clients whose businesses emit high levels of greenhouse gases on ways they can shrink their carbon footprints and achieve other climate goals. The first step in that plan is for bankers to discuss climate issues with all oil and gas clients by the end of next year.