Citigroup Says 42% of Clients Have No Energy Transition Plan

More than 40% of Citigroup’s clients lack a “substantive plan” for cutting their emissions to align with net-zero ambitions or are unlikely to transition at all, the bank’s latest climate report showed. The report, published earlier this week, is based on initial results from its net zero review template, which monitors its clients’ readiness to adapt to the energy transition. Among the energy sector, according to Citigroup, 42% of its clients have a “low” transition-plan alignment, and 29% have a “medium-low”…