November 26, 2024

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Kim Kyoung-ho, head of Citibank Korea's corporate banking division, speaks at a SBTi seminar held in Mapo-gu, Seoul, Tuesday. (Citibank Korea)

Citibank Korea said Wednesday that it hosted a seminar for corporate clients to inform them about the procedures for gaining approval from the Science Based Targets initiative, a global climate organization, for their carbon reduction targets.

The SBTi, jointly founded in 2015 by the World Wide Fund for Nature, the Carbon Disclosure Project and the United Nations Global Compact, defines and provides science-based international standards to verify the objectivity of carbon emission targets in businesses worldwide.

In recent years, gaining approval from the SBTi has become a crucial aspect of the company's sustainable management, as it is widely seen as a barometer for the objectivity of the company’s net-zero targets.

During the seminar organized jointly by WWF, the officials presented the latest SBTi guidelines as well as the case studies of Korean companies that secured approval from the SBTi for its net-zero targets.

“In line with our goal of becoming the best sustainable bank, we will continue to actively provide support for our corporate clients for their sustainable management," said Kim Kyoung-ho, head of Citibank Korea's corporate banking division.

Since 2018, Citibank has been actively engaged in various climate campaigns in partnership with WWF.

By Song Jung-hyun  (junghyun792@heraldcorp.com)