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TheStreet Open House

Citi Encourages Institutional Clients To ‘Go Paper-free’ With Plant-for-the-Planet

Stocks in this article: C

The CTS paper-free effort for institutional clients builds on similar successful consumer programs across the bank. Since 2008, Citi’s global consumer credit card business has seen a paperless statement penetration rate grow to approximately 30% of its customers worldwide. In 2009, Citi Cards received the Arbor Day Foundation’s Promise to the Earth Award for its support of tree planting programs through paperless statement initiatives.

Citi’s commitment to environmental sustainability is part of its broader approach to Responsible Finance. Citi was also the first major U.S. bank to sign the United Nations Global Compact, a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption.

Citi Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Transaction Services supports over 65,000 clients. As of the third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody.

About Plant-for-the-Planet

Plant-for-the-Planet was founded in 2007 by then 9-year-old Felix Finkbeiner who envisioned to plant one million trees in every country in the world. As a success, the United Nations Environmental Programme Billion Tree Campaign was handed over to Plant-for-the-Planet. In only six years, children, together with adults around the world, have planted over 12 billion trees. The 2020 target is to plant a total of 1,000 billion trees. More information on Plant-for-the-Planet: http://www.plant-for-the-planet.org/

About Citi:

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.

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