Citigroup and Rainforest Action Network declare 'ceasefire'
Date: 20 Apr 2003
Citigroup, which over the last few days has been the target of vigorous campaigning by the Rainforest Action Network, has released a joint statement with the organisation declaring a 'ceasefire', and saying that they have entered an extended period of dialogue.
Rainforest Action Network had accused the company of undertaking its operations without regard to social and environmental standards. It attacked the company for being "one of the world's top funders of the fossil fuel and logging industries".
The joint statement promises that the company will take early additional measures "to reduce degradation or destruction of endangered ecosystems in the conduct of our business."
Citigroup also said it would report greenhouse gas intensity of future power projects in our project finance business, and seek to identify investments in less carbon-intensive sources of energy moving forward.
You must be logged in to add comments
In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
From the same country
Other stories about this company
Currently most popular stories