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Citibank Chief Wants To Invest 50 Billion Dollars In 10-year Campaign For Better Environment

by Staff Writers
New York NY (SPX) Jun 20, 2007
Citibank is launching a $50 billion investment over the next 10 years to address global climate change as a corporate responsibility according to Michael Klein, Chairman and Co-Chief Executive Officer of Citi Markets and Banking and Vice Chairman of Citibank International plc. Klein will discuss the campaign in an address to the Overseas Press Club of America and environmental reporters Monday, June 25 at Club Quarters (6 p.m.) (40 W. 45th St.).

Klein will describe Citi's investments in clean energy and alternative technology, and affordable home equity loans to make homes more energy efficient. He will describe plans for bringing together business and political leaders to discuss social responsibility.

As an example, Citi Private Bank and the Financial Times have created an Environment Award for businesses around the world that have significantly improved their environmental performance.

The Markets and Banking group see opportunities in supporting companies working in alternative energies such as solar, wind, hydro, and geothermal. They would facilitate investments in aging infrastructures using clean and more efficient technologies.

Klein was named Investment Banker of the Year by Investment Dealers Digest and one of Fortune magazine's 25 Global Leaders to watch.

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Russian Power Generation Needs Foreign Investment
Moscow (SPX) Jun 20, 2007
The rapid economic growth which began in Russia several years ago has led to an exponential rise in the demand for electricity. Some Russian regions, including Moscow and its suburbs, as well as regions in European Russia, the Urals and Western Siberia, are facing power shortages. Electricity demand is expected to grow in Russia by 5.2% in 2008 (10% in some regions). Funds, including foreign investment, are crucial for satisfying it.

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