{"id":315779,"date":"2024-04-02T14:20:58","date_gmt":"2024-04-02T12:20:58","guid":{"rendered":"https:\/\/climatescience.press\/?p=315779"},"modified":"2024-04-02T14:21:01","modified_gmt":"2024-04-02T12:21:01","slug":"citigroup-reports-huge-share-of-its-clients-are-not-ready-to-reach-key-climate-targets","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=315779","title":{"rendered":"Citigroup Reports Huge Share Of Its Clients Are Not Ready To Reach Key Climate Targets"},"content":{"rendered":"\n
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From The Daily Caller<\/a><\/p>\n\n\n

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NICK POPE<\/a><\/p>\n\n\n\n

CONTRIBUTOR<\/p>\n\n\n\n

Citigroup is warning that more than 40% of their energy sector clients are unprepared for the \u201cnet-zero\u201d emissions transition, according to the financial institution\u2019s latest climate report.<\/p>\n\n\n\n

Forty-two percent of the bank\u2019s energy clients do not have a substantive emissions reduction plan, and an additional 29% have a plan that they may or may not be able to actually carry out,\u00a0according<\/a>\u00a0to the 2023 Citi Climate Report, released Thursday. Only 8% of the firm\u2019s clients in the energy sector have major emissions reductions plans and also the clear ability to execute those plans.<\/p>\n\n\n\n

Citi \u2014 the\u00a0fourth-largest<\/a>\u00a0bank in the U.S. \u2014 issued its climate report signaling that most energy clients may not be prepared to execute emissions reduction plans just weeks after the\u00a0Securities and Exchange Commission<\/a>\u00a0(SEC)\u00a0approved<\/a>\u00a0a final rule requiring medium-sized and large public corporations to disclose climate change-related risks and data on the emissions created directly by their businesses in financial reports.\u00a0(RELATED: John Podesta Cited A Major Investment Bank\u2019s Solar Projections. There\u2019s Just One Problem)<\/a>\u00a0<\/strong><\/p>\n\n\n\n

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Federal Court Halts Biden Admin\u2019s Corporate Emissions Disclosure Rule https:\/\/t.co\/oMsOGZB2Xi<\/a><\/p>— Daily Caller (@DailyCaller) March 16, 2024<\/a><\/blockquote>