- In an effort to enhance its corporate clients' transition to a more sustainable economy, Citizens Financial Group ( NYSE: CFG ) has rolled out its Carbon Offset Deposit Account solution Wednesday to allow businesses to acquire carbon offsets using credit earned on deposits.
- The new tool allows clients to integrate sustainability into their strategies and products, and helps them to meet environmental, social and governance ("ESG") goals.
- Generally, carbon offsets enable ESG-friendly companies to compensate for greenhouse gas emissions that can't yet be reduced, Citizens said.
- "We are hard at work reducing our operational impact on the environment, navigating climate risk and delivering innovative solutions such as Carbon Offset Deposit Accounts, to support our clients as they transition toward a greener future," said Michael Cummins, executive vice president and head of treasury solutions at Citizens.
- In September, Citizens Financial to source 100% renewable power for operations .
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Citizens Financial launches tool to let businesses acquire carbon offsets in ESG push