Citizens Financial Group
Sorry, we don't know enough about Citizens Financial Group yet.
Citizens Bank is headquartered in Providence, Rhode Island. The bank offers products and services to individuals, small businesses, and middle-market companies.
The bank does have clients in the oil and gas sector, although the extent of its lending to the sector is unclear. In 2023, Citizens announced a $50 billion Sustainable Finance Target, including $5 billion in green financing, by 2030. As part of this announcement, the bank stated that "they were committed to engage corporate clients in high-emitting sectors on climate-related topics, beginning with a target to engage 100% of our Oil & Gas clients by the end of 2024".
We would like to see the bank put in place an explicit and publicly available policy to confirm that it will not lend to any new fossil fuel projects and that it will gradually phase out its lending to existing oil and gas clients.
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