Citi joins the Alliance for Green Commercial Banks in Asia
HKMA and the IFC jointly launched the Asia chapter of the alliance in 2020.
Citi announced that it has become a cornerstone member of the Alliance of Green Commercial Banks in Asia.
The alliance was established by the International Finance Corporation (IFC), a member of the World Bank Group, whilst the Asia chapter was jointly launched in 2020 with the Hong Kong Monetary Authority (HKMA), the chapter’s founding member and first regional anchor.
“We are honoured to be a founding member bank on this important initiative and look forward to making further progress on our mission to support responsible finance,” said Peter Babej, CEO, Citi Asia Pacific.
The Alliance for Green Commercial Banks is an initiative that aims to bring together financial institutions, research institutions, and innovative technology providers to develop a green community in emerging markets. Their goal is to collectively finance the infrastructure and business solutions needed to urgently address climate and environmental risks.
As a cornerstone member, Citi will work closely with IFC and HKMA to advocate and support the green transition of economies.