Citi was named Best Bank for Corporate Responsibility in Asia by Euromoney in this years annual awards by the publication. The editorial award recognised the bank’s commitment in fostering diversity and inclusion; reducing the environmental impact of operations; promoting workforce development and social mobility; and innovative and effective initiatives to strengthen local communities in which banks are domiciled.
“Citi is committed to building a more diverse, inclusive and sustainable future. This award is excellent recognition of everything we do to support our clients and communities to generate positive change,” said Peter Babej, Citi Asia Pacific CEO.
The recognition was for some of the work undertaken by the bank which includes the commitment of RM140 million in philanthropic investments to advance economic opportunities and employability for youth from low-income and underserved communities in the region by 2023. To offer offer 6,000 jobs and 60,000 job skills training opportunities for young people at its Asia outfit over the next three years.
In 2020, Citi Foundation invested over RM40 million in 39 community programs across Asia Pacific in addition the businesses in Asia Pacific contributed RM60 million to support community projects and events. In efforts to assist Covid-19 recovery, the foundation has contributed over RM90 million delivering relief and support for communities impacted by the pandemic.
The Youth Co:Lab program which is a collaboration with UNLAD, has supported over 75,000 youth participants through different forums with over 8,000 young social entrepreneurs have benefited from the program and has helped to launch or improve over 1,000 youth-led social enterprises.
In Malaysia, almost 2000 employees volunteered for Global Community Day in over 15 group activities covering ten NGOs this year. The partnership with Asia School of Business, the Rapid Youth Success Entrepreneurship (RYSE) Program has helped improve youth unemployment rates in urban Malaysia. Low income students from community colleges in the country are taught innovation and design thinking by the school’s team in addition to social entrepreneurship skills and e-commerce.
Over the last seven years, Citi Malaysia through Citi Foundation has partnered with Think City, a subsidiary of Khazanah Nasional Berhad which is a community-based urban regeneration body that seeks to create more sustainable and livable cities. In light of the Covid-19 pandemic, Think City activated the Covid-19 response plan to support urban poor communities, including migrant workers and B40 households impacted by COVID-19.
The group has achieved its global environmental impact goals by sourcing renewable electricity for 100% of its facilities in the region. Has initiated onsite renewable electricity plant at the regional HQ in HK and installed 360 solar panels, which are forecasted to produce 85,337 kilowatt-hours of renewable electricity.
