Citigroup

Citibank
New York, New York
Banks

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

In April 2024, West Virginia placed Citigroup on its Restricted Financial Institutions List for its “boycott of energy companies” according to its ESG policies and publicly available statements. Citigroup has fired employees for political beliefs and led the financial industry in canceling business relationships with the firearm industry. Citigroup scored a 100 out of 100 on the 2023-2024 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Citigroup increases the risk of dividing employees, alienating customers and harming shareholders. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Citigroup provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. The company forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Citigroup is a member of the Net Zero Banking Alliance, the Ceres Network, and PCAF, committed to net zero carbon emissions by 2040. The bank’s CEO is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. The bank opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. Citigroup is a bronze partner of PFLAG. Citigroup is a member of the MCCA, indicating its focus on recruiting, retaining, and promoting employees based on race. The bank’s CEO, Jane Fraser, signed the CEO Action for Diversity & Inclusion pledge, which includes a commitment to promote DEI through bias education training in the workplace. Citigroup donated to the Equality PAC. For these reasons, Citigroup receives a High Risk rating.

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Board Bias

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CEO of Citigroup

Jane Fraser

Jane Fraser

Summary:

Headquartered in New York, New York, Citigroup is a member of the Fortune 250 operating in the Banks industry. Jane Fraser and John C. Dugan serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $308,100 to Republican causes and $688,549 to Democratic causes. Under their tenure, Citigroup currently holds a 'High Risk' risk rating.

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Political Contributions of Leadership:

$308,100

$688,549

Republican

Democrat

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
4/25/23SocialSisters of Saint Joeseph of PeaceReport on Indigenous People PolicyAgainst31.50%
4/25/23GovernanceJohn CheveddenShareholder Approval of Termination PayAgainst27.90%
4/25/23GovernanceKenneth SteinerRequire Two Seperate People Hold the Offices of Chairman and CEOAgainst18.20%
4/25/23EnvironmentalHarrington Investments, Inc.Limit/End Fossil Fuel Underwriting/FinancingAgainst10.10%
4/26/22SocialSisters of St. JosephReport on Respecting Indigenous Peoples’ RightsAgainst33.12%
4/26/22GovernanceKenneth SteinerRequire Independent Board ChairAgainst20.58%
4/26/22EnvironmentalHarrington Investments, Inc.Ending New Fossil Fuel FinancingAgainst12.82%
4/26/22GovernanceJohn CheveddenAdapot Management Pay Clawback Authorization PolicyAgainst9.11%
4/26/22SocialNational Center for Public Policy ResearchCivil Rights and Non-Discrimination AuditAgainst2.90%
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