Statement regarding the Glasgow Financial Alliance for Net Zero and Net Zero Banking Alliance

As a founding member of the Glasgow Financial Alliance for Net Zero (GFANZ) and a member of its Principals Group, Citi supports its decision to focus on addressing barriers to mobilizing capital to emerging markets in support of the low-carbon transition. In light of this shift, and Citi’s progress towards its own net zero goals, we have decided to leave the Net Zero Banking Alliance and focus our attention on supporting GFANZ during this new phase. 

As our recently published 2023 Climate Report Supplement details, we remain committed to reaching net zero and continue to be transparent about our progress. We will continue to work with our clients on their transitions to a low-carbon economy while helping ensure energy security, given the range of transition pathways that are being pursued across our global network.