Henry Pomerance

4/14/20

Senior Project 2020

Business and Marketing

Blog Post #2

This week I am continuing my research by taking a deeper look at annual reports, specifically those of financial institutions like Citibank. Citi is the leader among all U.S. financial institutions in many ESG areas. From an environmental standpoint, they were the first major U.S. bank to endorse the United Nations’ Principles for Responsible Banking and are working to align their business practices with the UN’s Sustainable Development Goals and the Paris Agreement. Socially, they were ranked first for housing affordability and provided over $6 billion in affordable housing loans. From a corporate governance perspective, they were the first U.S. company (not just financial institution) to disclose gender and minority pay gaps, and are putting pressure on itself to become more aware and proactive regarding workplace discrimination. They are nowhere near perfect in this regard, but are very much ahead of the rest of their industry.