Essay on Citigroup Corporate Social Responsibility...

Citigroup Corporate Social Responsibility Evaluation Corporate social responsibility has become a hot term in the past few years as corporations have become larger and even more powerful. Watch-dog organizations have been formed to monitor the actions of corporations and report â€Å"rogue† companies who do not mean their standards for being socially responsible. Recently, many companies have started to issue corporate social responsibility reports along with their annual reports. Citigroup, a financial services firm is one of these companies. Citigroup is one of the largest companies in the world. Citigroup provides a wider range of financial services from insurance to financial advisory service. According to Forbes, Citigroup is the†¦show more content†¦Major initiatives in 2006 included the following: †¢ Commitment to reduce greenhouse gas (GHG) emissions by 10% of our 2005 baseline by 2011 †¢ Establishment of a Global Energy Council to implement measures to meet our GHG reduction and green power procurement goals †¢ Purchase of 52,283 MWh of green power for our operations †¢ Commitment to target LEED Silver certification for construction of new office facilities †¢ Evaluation of our largest facilities to understand how to attain LEED status for our existing buildings †¢ Purchase of 200% more FSC certified paper (for a total of 557 metric tons) †¢ Purchase of 8,186 metric tons of 30% post-consumer recycled copy paper (netting 2,455.8 metric tons of recycled fiber), as well as 682.5 metric tons of recycled fiber for use in corporate marketing materials. The last initiative comes on the heels of the recent rise in foreclosures on homes in the US due to subprime loans. The program provided counseling services to families facing closures in the eight to ten markets affected most by foreclosures. Citigroup has also adopted a corporate responsibility mantra known as â€Å"Our Shared Responsibilities†. We have a responsibility to our clients We have a responsibility to ourselves We have a responsibility to our franchise -Our Shared Responsibilities Internal CSR Citigroup’s approach to social responsibility is two-fold. The company takes