Citigroup Inc. has announced plans to source renewable power for 100% of its global energy needs by 2020.
The bank says it will consider on-site power generation, power purchase agreements for energy-intensive properties such as data centers and the appropriate use of renewable energy credits. It will also continue to focus on energy efficiency as a critical component of the strategy.
Citi owns or leases over 57 million square feet of real estate, consisting of over 7,900 properties in 94 countries. Its new global base, currently under construction in New York City, is being targeted for LEED Platinum, the highest level of certification under the U.S. Green Building Council, according to the bank.
“We are right alongside our clients in supporting the growth of renewable energy development and production,” says Michael Corbat, CEO of Citi. “We’re committed to using renewable power sources for our global operations while continuing to provide financing for our clients’ renewable energy and energy efficiency projects around the world.”
The bank says the new commitment will also draw on the experience of several groups within Citi. Earlier this year, Citi entered into a contract to provide Green-e certified renewable energy for 50% of the power needs at its Roanoke, Texas, data center. The deal is a collaboration between Citi Realty Services, an internal unit responsible for the company’s facilities, and Citigroup Energy Inc., another Citi subsidiary.
“With a focus on innovation and efficiency, we continue to challenge ourselves to improve our facilities and operations around the world,” adds Don Callahan, Citi’s head of operations and technology. “We’re exploring new approaches and partnerships to meet this ambitious renewable energy goal and are excited to do our part to support the transition to cleaner energy sources.”