Citigroup Global Markets Europe AG
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:1,143 tCO2e/year
Scope 1 Emissions:30 tCO2e/year
Scope 2 Emissions:375 tCO2e/year
Scope 3 Emissions:739 tCO2e/year
Renewable Energy Share:100% (electricity)
ESG Focus Areas
- Climate change
- Diversity, inclusion and equal opportunity
- Employment conditions
- Remuneration
- Innovation and digitization
- Customer focus
- Human rights
- Anti-financial crime
- Digital security
Environmental Achievements
- Citi achieved 100% renewable electricity goal in 2020. CGME is working towards 2025 operational footprint goals to reduce GHG emissions and energy consumption.
- Over 50% of CGME locations are LEED certified.
Social Achievements
- Female representation of CGME Directors and Managing Directors (C15+) reached 23% in 2023.
- Female representation of CGME Assistant Vice President and above reached 29% in 2023.
- Female representation on the Supervisory Board reached 33% in 2023.
- Female representation on the Management Board reached 63% in 2023.
Governance Achievements
- CGME incorporated ESG risks into its Risk Identification and Assessment Process, Risk Appetite Statement, Risk Strategy, ICAAP, ILAAP, and Enterprise Risk Management Framework.
- CGME established a quarterly dashboard for reporting key risk metrics and embedded ESG risks in its Risk Appetite Statement.
Climate Goals & Targets
Long-term Goals:
- Contribute to Citi’s goal of achieving net zero GHG emissions by 2050.
Medium-term Goals:
- Contribute to Citi’s goal to reach $1 trillion in sustainable finance by 2030.
- Reduce GHG emissions and energy consumption for operations (2025 goals).
Short-term Goals:
- Achieve at least 30% women’s representation at C15+ levels by 2025.
Environmental Challenges
- The availability and quality of climate and wider ESG data and metrics present a challenge in non-financial reporting.
- Uncertainty surrounding macroeconomic and political developments, resulting in lower client or transaction volumes.
- Increased geopolitical uncertainties impacting client activities and external market conditions.
- Stricter regulation of the financial and capital markets.
- Limited data availability from counterparties on the Taxonomy-alignment of their economic activities.
Mitigation Strategies
- Citi continues to contribute to methodological improvements and developing tools to assess climate risk and climate data.
- CGME is expanding its business activities and portfolio of products and services.
- CGME is integrating ESG considerations into its relevant products and operations.
- CGME is monitoring key performance indicators (KPIs) per ESG risk categories.
- CGME is committed to maintain strong and consistent ESG risk management practices, aligning with Citi’s ESRM Framework and Policy and using tools like CRAS.
Supply Chain Management
Responsible Procurement
- Well-established framework for engagement with key suppliers, ensuring shared values.
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
- Chronic physical events (e.g., changes in precipitation)
Transition Risks
- Changes in regulations
- Technological developments
- Stakeholder expectations
- Legal implications
Opportunities
- Financing and facilitating activities that accelerate the transition to a low-carbon economy
Reporting Standards
Frameworks Used: GRI, EU Taxonomy Regulation, CSRD, NFRD
Certifications: LEED