Climate Risk and Banking: Citi's Net-Zero Future

32 Pages Posted: 2 Nov 2022 Last revised: 4 Nov 2022

See all articles by George (Yiorgos) Allayannis

George (Yiorgos) Allayannis

University of Virginia - Darden School of Business

Aldo Sesia

University of Virginia - Darden School of Business

Abstract

On her first day as the new CEO of Citigroup Inc. (Citi), Jane Fraser announced Citi's commitment to net-zero greenhouse gas emissions (GHG) by 2050. The case examines the implications of such a decision, including the need to work both on Citi's own operations as well as help transition those of its clients. The case allows for an examination of the green bond market, and separately, the market of social bonds and sustainability-linked bonds. The case discusses the various principles and frameworks for green and social bonds and their potential benefits and risks.

Excerpt

Rev. Feb. 6, 2023

Climate Risk and Banking: Citi's Net-Zero Future

“The climate crisis is among the top critical challenges facing our global society and economy. We are committed to bringing as many clients as we can along with us on this journey and working with them relentlessly to get it right.”

—Jane Fraser, Citigroup Inc. CEO

. . .

Keywords: finance, green bond market, green bonds, social bonds, sustainability, net-zero emissions, banking, climate risk

Suggested Citation

Allayannis, George (Yiorgos) and Sesia, Aldo, Climate Risk and Banking: Citi's Net-Zero Future. Darden Case No. UVA-F-2024, Available at SSRN: https://ssrn.com/abstract=4261605

George (Yiorgos) Allayannis (Contact Author)

University of Virginia - Darden School of Business ( email )

Box 6550
Charlottesville, VA 22906-6550
United States
434-924-3434 (Phone)

HOME PAGE: http://faculty.darden.edu/allayannisy

Aldo Sesia

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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