Citi Launches New Deposit Solutions to Support Clients’ Sustainability Agenda

Published: May 25, 2022

London - Citi has announced the launch of new deposit solutions designed to assist clients in investing excess cash as part of their sustainability agenda.

The two new deposits – Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) - deliver competitive yields and are based upon Citi’s green and social bond frameworks, supporting the Sustainable Development Goals (SDGs).

Czeslaw Piasek, EMEA Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, commented: “Sustainability is no longer an executive level only discussion. Finance and treasury departments can play a strategic role in helping their firms to deliver on Environment, Social and Governance (ESG) -related goals and become more sustainable businesses. Our new series of deposit solutions reflect Citi’s commitment to helping our clients advance ESG commitments in their treasuries through a range of sustainable financing- and ESG-linked investment services.”

Funds invested into the deposits are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.

Types of projects being financed include:

David Tsui, EMEA Head of Deposits and Investments Products, Treasury and Trade Solutions, Citi, added “The expansion of our sustainable product suite is one of the steps we are taking to provide more comprehensive sustainable cash management solutions to clients. We are delighted to be partnering with treasurers to explore new and innovative ways to support their sustainability objectives.”

Both deposits are now available in the U.K., Ireland, and Abu Dhabi.

Citi’s Frameworks are aligned with the recommendation of the International Capital Market Association’s Green Bond Principles and Social Bond Principles and have been assessed by a leading independent ESG and corporate governance research, ratings, and analytics firm.

As cash deposit transactions, TD or MMTD are not securities and the return of the TDs and MMTDs are not linked to the return of the underlying assets.