Business Case Studies & Business Publications

Climate Risk and Banking: Citi’s Net-Zer...

Allayannis, George...

Case

Climate Risk and Banking: Citi’s Net-Zero Future

Allayannis, George (Yiorgos); Sesia, Aldo

F-2024 | Published October 18, 2022 | 32 pages Case

Collection: Darden School of Business

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On her first day as the new CEO of Citigroup Inc. (Citi), Jane Fraser announced Citi’s commitment to net-zero greenhouse gas emissions (GHG) by 2050. The case examines the implications of such a decision, including the need to work both on Citi’s own operations as well as help transition those of its clients. The case allows for an examination of the green bond market, and separately, the market of social bonds and sustainability-linked bonds. The case discusses the various principles and frameworks for green and social bonds and their potential benefits and risks.

•To discuss principles of sustainable finance •To explore the market for green and social bonds •To examine sustainability-linked bonds •To discuss a bank’s net-zero targets and their implication •To examine climate risk