Citi Becomes Official Signatory to the Natural Capital Declaration
News Release: New York, Geneva, Oxford, 26 October 2015 – –The Global Canopy Programme (GCP) and the UN Environment Programme Finance Initiative (UNEP FI) announced today that Citi has become an official Signatory to the Natural Capital Declaration (NCD).
The NCD is a finance sector initiative, endorsed by 43 financial institutions. It advances environmental risk management and innovative conservation finance, as well as financial sector accountability for the impacts and dependencies of portfolio companies. NCD Supporters, including Bloomberg LP and the Convention on Biological Diversity also contribute a range of expertise to the initiative’s practical work programme. Signatories and Supporters collaborate to develop tools, methodologies and guidance to help understand and integrate natural capital considerations into financial products and services, supported by a Secretariat jointly run by GCP and UNEP FI.
“Managing environmental and social risks associated with client transactions and increasing financing of environmentally sustainable business opportunities are core parts of our Sustainable Progress strategy,” said Courtney Lowrance, Director, Environmental and Social Risk Management at Citi. “We are proud to join the Natural Capital Declaration to deepen this work of integrating natural capital considerations into our work.”
Liesel van Ast, Programme Manager, Natural Capital Declaration states, “We are excited to have Citi commit to the Natural Capital Declaration’s programme to strengthen management of environmental risks and opportunities in the financial sector. We look forward to working with Citi to help catalyse the inclusion of science and data on natural resource constraints and environmental pressures into lending and investment decisions.”
For further information or to arrange interviews, please contact:
Natural Capital Declaration
Rachel Mountain, Head of Communications, Global Canopy Programme firstname.lastname@example.org, +44 (0)1865 724 333
Robert Bartram, Communications officer, UNEP FI, Robert.email@example.com , +41 22 917 8934
Elizabeth Patella, Global Public Affairs, Citi, firstname.lastname@example.org, 212-559-2477
Notes to editors
About the Natural Capital Declaration
The Natural Capital Declaration (NCD) is a global finance-led initiative to integrate natural capital considerations into financial products and services, and to work towards their inclusion in financial accounting, disclosure and reporting. It is signed by the CEOs of 43 financial institutions, which are actively working with supporting (non-financial) organisations to develop methods to implement the four commitments in the Declaration. This is being done through a steering committee of signatories and supporters and four working groups, supported by a secretariat formed of the UNEP Finance Initiative and the Global Canopy Programme (GCP). The NCD is developing a range of tools to facilitate integration of natural capital factors into financial products and services and strengthen management of natural resource and environment-related risks and opportunities.
For more information visit www.naturalcapitaldeclaration.org
About UNEP Finance Initiative
The United Nations Environment Programme Finance Initiative (UNEP FI) is a unique partnership between UNEP and a global network of over 200 banks, insurers and investors from 51 countries. UNEP FI aims at creating an enabling environment for financial institutions to embed sustainable development policies into their operations, and its mission is to mainstream the integration of sustainability across the finance sector. It provides a neutral space to convene stakeholders and acts as a platform at the intersection between finance, science and policy. Visit www.unepfi.org
About the Global Canopy Programme
The Global Canopy Programme (GCP) is a tropical forest think-tank and international NGO, working to demonstrate the scientific, political and business case for safeguarding forests as natural capital that underpins water, food, energy, health and climate security for all. www.globalcanopy.org
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
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