scientists-letter-to-citi-june-2024-0143b41c2503df3b.pdf

A group of scientists and researchers calls on Citi to cease financing fossil fuel expansion, citing the bank's role as the second-largest financier of fossil fuels since the Paris Agreement. The authors argue that such financing exacerbates the climate crisis and disproportionately harms frontline communities, specifically mentioning impacts in the US, the Amazon, and the Niger delta. They demand a phase-out of coal, oil, and gas financing, an end to LNG project funding, increased investment in renewable energy, and restitution for the bank's role in fueling climate chaos.

• Citi is identified as the second-largest financier of fossil fuels since the Paris Climate Agreement was adopted, providing $396 billion to the industry from 2016 onwards.
• A small number of producers are responsible for the vast majority of global emissions; 80 percent of global fossil CO2 emissions are linked to only 57 oil, gas, coal, and cement producers.
• Major carbon producers are linked to significant environmental degradation, including over 40 percent of the increase in global mean surface temperature (1880-2010), 55 percent of the increase in ocean acidification (1880-2015), and 37 percent of the area burned by forest fires in western North America since 1986.
• Fossil fuel and petrochemical infrastructure cause severe human rights and public health threats globally, with specific examples including "Cancer Alley" in the US, oil pollution in the Amazon, and pollution in the Niger delta.
• The authors demand that Citi stop supporting companies engaged in upstream oil and gas development and end financing for new or expanding liquefied natural gas (LNG) projects.
• The letter urges Citi to increase renewable energy financing to limit global warming to as close to 1.5°C as possible and to contribute to the UNFCCC Loss and Damage Fund as restitution.

APA

Union of Concerned Scientists (2024). scientists-letter-to-citi-june-2024-0143b41c2503df3b.pdf. https://ucs-documents.s3.amazonaws.com/global-warming/Scientists-Letter-to-Citi-june-2024.pdf

Chicago

Union of Concerned Scientists. scientists-letter-to-citi-june-2024-0143b41c2503df3b.pdf. 2024. https://ucs-documents.s3.amazonaws.com/global-warming/Scientists-Letter-to-Citi-june-2024.pdf.

Wikipedia

{{cite press release |author=Union of Concerned Scientists |title=scientists-letter-to-citi-june-2024-0143b41c2503df3b.pdf |date=10 June 2024 |url=https://ucs-documents.s3.amazonaws.com/global-warming/Scientists-Letter-to-Citi-june-2024.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{unionofconcernedscientists2024scientistslettertocitijune20240143b41c2503df3bpdf, author = {{Union of Concerned Scientists}}, title = {{scientists-letter-to-citi-june-2024-0143b41c2503df3b.pdf}}, publisher = {Union of Concerned Scientists}, year = {2024}, month = jun, url = {https://ucs-documents.s3.amazonaws.com/global-warming/Scientists-Letter-to-Citi-june-2024.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }