Citi Hong Kong to buy 106.4 million kWh renewable-sourced electricity

The deal is estimated to reduce carbon emissions by 41,496 tonnes.

Citi has entered into a multi-year agreement with CLP Power Hong Kong to buy 106.4 million kilowatt-hours (kWh) of electricity generated from local renewable energy sources until 2027.

The deal is expected to result in a reduction of 41,496 tonnes of CO2 emissions, the bank said in a press release.

'As a longstanding corporate citizen of Hong Kong, we have a commitment and responsibility to create a positive impact in the community where we live and work. This includes our ongoing effort to reduce the environmental footprint of our operations," said Aveline San, CEO of Citi Hong Kong and Macau.

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"Having achieved our global goal to be 100% powered by renewable energy in 2020, we are proud to be taking our environmental sustainability commitment to the next level by sourcing local renewable energy through our partnership with CLP Power. We look forward to further deepening our collaboration with CLP Power on driving a more sustainable future through innovative solutions and initiatives," San said.