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# Citizens Financial Group Reports Progress on USD 50 Billion Sustainable Finance Target in 2024 Sustainability Report
- URL: https://www.theglobalbanker.com/citizens-financial-group-50-billion-sustainable-finance-target-2024-sustainability-report/
- Published: 2025-07-09T15:14:00.000Z
- Updated: 2026-10-19T23:54:06.000Z
- Description: Citizens Financial Group released its 2024 Sustainability Report, targeting USD 50 billion in sustainable finance by 2030 and reporting USD 252 million in green finance transactions for the year.
- Author: TGB Editorial Team
- Tags: ESG, Americas, #archive

Citizens Financial Group has released its 2024 Sustainability and Impact Report, reporting progress on its target, set in September 2023, to finance and facilitate USD 50 billion in sustainable finance by 2030 and reporting that the bank arranged USD 252 million in green finance transactions during the year. The transactions spanned renewable energy, energy efficiency, and sustainable water projects.

In its accompanying 2025 Climate Report, the bank published its financed emissions for the first time, aligned to the Partnership for Carbon Accounting Financials standards. 

#### SCOPE 1 AND 2 TARGET SET FOR 2030

Citizens has set a new target to reduce its Scope 1 and 2 greenhouse gas emissions by 29 per cent by 2030\. The commitment covers the bank's direct combustion emissions and those associated with its purchased energy.

On renewable electricity, Citizens matched 100 per cent of its consumption through a Virtual Power Purchase Agreement with Ørsted, the Danish renewable energy group. 

#### USD 50 BILLION SUSTAINABLE FINANCE TARGET

The USD 50 billion sustainable finance target by 2030, first announced in September 2023, includes a USD 5 billion green sub-target. The target covers financing and facilitation of qualifying social and green initiatives; in 2024 Citizens financed and facilitated USD 6.3 billion of qualifying social initiatives alongside the USD 252 million of green transactions.