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ESG Investing / Treasury & Capital Markets
Citi unveils sustainability-linked deposit solution
Demand by corporate, institutional clients in Hong Kong, Singapore for green options
The Asset 5 Aug 2022

To meet client demand and interest in sustainability-linked products, services and investment options, Citi’s treasury and trade solutions unit has launched the Sustainable Time Deposit solution for corporate and institutional clients in Hong Kong and Singapore.

Delivering competitive yields, funds invested into the solution will be allocated to finance or refinance assets in a portfolio of eligible green or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework, all of which support the United Nations Sustainable Development Goals.

Environmental projects that will be financed through these deposits include projects in renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation.

Social projects include expanding access to affordable basic infrastructure like water or sanitation and digital connectivity for low-income communities and women in emerging markets. These projects also include providing access to essential services, such as healthcare, education, affordable housing and financing for entrepreneurs and smallholder farmers.

Affordable housing projects being financed in the US include the construction, rehabilitation and preservation of housing for low- and moderate-income populations.

Sandip Patil, head of liquidity management services, treasury and trade solutions, Asia-Pacific, at Citi, says: “Through our new deposit solution in Hong Kong and Singapore, we will closely work alongside treasurers who are playing a pivotal part in making their businesses more sustainable.”

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