Net 0 Tracker

Citigroup Inc.

"Citigroup Inc., a company based in the USA, has committed to achieving net zero greenhouse gas emissions by 2050, in alignment with the Paris Agreement and prevailing climate science. Net Zero Tracker
This includes reducing Scope 3 financed emissions, which is considered the most significant contribution the financial industry can make towards a low-carbon economy. Net Zero Tracker
As an interim target, Citigroup aims to achieve net zero in its own operations by 2030. Net Zero Tracker
An interesting fact about their environmental policy is that they achieved their goal of 100% renewable electricity in 2020. Net Zero Tracker
In …"

Current Score (vs. LY)

47.3 pts (7.5)

Last Update: Dec. 12, 2023

Current Rankings

Global: #78

S&P100: #53

Financials: #14

80.0%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

33.3%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

33.3%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

	Y2021	Y2020	Y2019
Scope 1	44,683	25,653	23,095
Scope 2 - location-based	463,311	505,223	568,780
Scope 2 - market-based	60,979	61,063	0
Scope 1-2 - location-based	507,994	530,876	591,875
Scope 1-2 - market-based	105,662	86,716	NA
Scope 3	10,586	2,579,202	126,229
Total - location-based	518,580	3,110,078	718,104
Total - market-based	116,248	2,665,918	NA

Note: Data sources detailed here

	Y2022	Y2021
Total CO₂e estimate (by Net0Tracker)	4,000,579	3,157,067
Methodology	Pre-calculated sector intensity (revenue)	Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.

Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)

Please refer to the library for viewing the supporting documentation

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Citigroup Inc. belongs to the sector Financials.

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope	Reduction Objectives	Base Year	Target Year	Comments
S1S2LOC	45.0	2010	2025
S1S2LOC	80.0	2005	2050

Net Absolute Emission Reductions

Scope	Reduction Objectives	Base Year	Target Year	Comments
S1S2MKT	100.0	2020	2030
S1S2S3MKT	100.0	2020	2050

Net Zero Future Commitments

Scope	Scope 3 Coverage	Target Year	Comments
S1S2S3LOC	FULL	2050
S1S2LOC	NO	2030

Science-based Targets (SBTI)

There is no Science-Based target recorded in our database. Email us to report missing information Email

Offsets

Last update for Citigroup by zerotracker.net: Aug. 3, 2022

Planning to use external offset credits	Not Specified
Separate targets for emission reductions and removals	No
Conditions on use of offset credits	None
Plans for carbon dioxide removal (CDR)	Not Specified

Score Summary

Ref	Principle	Score (points)	Max (points)	Delta (points)
1	At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified	10.0	10.0	0.0
2	Scope 3 emissions are fully reported and externally-verified	5.0	10.0	0.0
3	CDP score demonstrates the level of transparent disclosures	9.0	10.0	0.0
	Transparency	24.0	30.0	0.0
4	Net Zero Commitments by 2050 include an intermediate target and cover all the emissions	10.0	10.0	0.0
5	Net Zero targets demonstrate a high-level of emergency	3.333333333333334	10.0	0.0
6	Emission reduction targets on a forward-looking basis are ambitious	0.0	10.0	0.0
7	Targets are science-based as validated by SBTi	0.0	10.0	0.0
	Commitments	13.333333333333334	40.0	0.0
8	Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets)	0.0	10.0	0.0
9	Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets)	0.0	10.0	0.0
10	Implied Temperature Rating by MSCi	10.0	10.0	7.5
	Results	10.0	30.0	7.5
	Total	47.3	100.0	7.5

Score Details

Criteria	Results	2023 Score	2022 Score	Vs. 2022	2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period?	yes	5.0 / 5.0	5.0	0.0	5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year?	yes	5.0/ 5.0	5.0	0.0	5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed?	partly	2.5 / 5.0	2.5	0.0	2.5
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year?	partly	2.5 / 5.0	2.5	0.0	2.5
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)?	A-	9.0 / 10.0	9.0	0.0	9.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050?	yes	3.0 / 3.0	3.0	0.0	3.0
Does the net zero target include an intermediate target by 2030?	2025	3.0 / 3.0	3.0	0.0	3.0
Does the net zero target include all the emissions?	yes	4.0 / 4.0	4.0	0.0	4.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2?	2030	3.3 / 5.0	3.3	0.0	3.3
Target year for achieving net zero emissions for S1+S2+S3 combined?	2050	0.0 / 5.0	0.0	0.0	0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?		0.0 / 5.0	0.0	0.0	2.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?	No target found	0.0 / 5.0	0.0	0.0	0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to?	NC	0.0 / 10.0	0.0	0.0	0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target	Objective (in %): Actual (in %): No baseline could be found	0.0 / 5.0	0.0	0.0	5.0
Momentum: last year % reduction vs. forward-looking target	Objective (in %): Actual (in %): No baseline could be found	0.0 / 5.0	0.0	0.0	5.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target	Objective (in %): Actual (in %): No target found	0.0 / 5.0	0.0	0.0	0.0
Momentum: last year % reduction vs. forward-looking target	Objective (in %): Actual (in %): No target found	0.0 / 5.0	0.0	0.0	0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets?	ITR: 1.3°C	10.0 / 10.0	2.5	7.5	5.0
Total		47.3 / 100.0	39.8	7.5	54.3

Available Data Sources

Reporting Year	2021	2021	2020	2020	2020	2019	2019	2018
Source	Public	Yourstake	Public	CDP	Public	Public	CDP	Public
Publication Year	2022	unknown	2022	2021	2021	2021	2020	2021
Scope 1	44,683	44,683	25,653	21,235	21,236	23,095	23,289	24,132
Scope 2 - location-based	463,311	NA	505,223	505,223	505,224	568,780	593,611	620,485
Scope 2 - market-based	60,979	463,311	61,063	61,063	0	0	359,748	0
Scope 1-2 - location-based	507,994	44,683	530,876	526,458	526,460	591,875	616,900	644,617
Scope 1-2 - market-based	105,662	507,994	86,716	82,298	NA	NA	383,037	NA
Scope 3	10,586	10,586	2,579,202	590,780	21,829	126,229	747,913	149,815
Total - location-based	518,580	55,269	3,110,078	1,117,238	548,289	718,104	1,364,813	794,432
Total - market-based	116,248	518,580	2,665,918	543,957	NA	NA	960,324	NA