Korea Citibank Attracts Corporate Clients with 'ESG'

Exterior view of Korea Citibank headquarters.

Korea Citibank is focusing on expanding ESG (Environmental, Social, and Governance) management with the goal of becoming the 'Best ESG Bank.' As ESG has emerged as a key topic in the international financial market, the bank plans to offer ESG-related services and products that appeal to corporate clients.

According to Korea Citibank on the 12th, Citigroup has declared its commitment to achieving 'net zero carbon emissions' by 2050. In July, it also emphasized the growth of environmental finance in the Asian region through the report titled 'Asia's Opportunities for a Sustainable Future.'

Environmental finance projects are ongoing at Korea Citibank as well. In February, the bank signed a memorandum of understanding with the Korea Trade Insurance Corporation to support Korean companies' exports and overseas expansion by supplying green finance. Preferential loan conditions will be applied not only to the materials, components, and equipment sectors and new industries but also to projects promoting green energy and green mobility.

Additionally, to maintain the global average temperature rise within 1.5℃, Korea Citibank is participating in the climate action partnership program 'Change for Tomorrow' with the World Wide Fund for Nature Korea. The bank also continues to run in-house green campaigns encouraging reduced plastic use and the use of tumblers.

Social contribution activities are operated under the principles of 'participatory social contribution,' 'long-term social contribution,' and 'leading social contribution.' Rather than simple charity through donations, partnerships with non-profit organizations and others are actively encouraged.

Services for large corporate clients are also expanding. Since the second half of last year, Korea Citibank has been holding video conferences between financial executives of large corporations and Citibank's global ESG experts. These meetings serve to remind participants of the growing importance of ESG in the global market and to review related best practices.

In June, the bank launched the 'ESG Council' to raise awareness of ESG and provide products and services tailored to customer needs. The council consists of 25 employees, including Korea Citibank President Yum Yoosoon. This body also aims to strengthen customer relationships by providing content that meets client needs.

Meanwhile, in the first half of this year, Citibank recorded sustainable finance results of $25 billion in the Asia-Pacific region, a 400% increase compared to the same period last year. Among these, Korea Citibank conducted the highest number of transactions in the region, with 17 deals. The balance exceeded $8.1 billion.

This content was produced with the assistance of AI translation services.