Citi Handlowy has signed a financial agreement with Żabka regarding the implementation of ESG goals

Citi Handlowy and Żabka signed a financial agreement taking into account the implementation of ESG goals. Under the agreement, Żabka can issue bank guarantees up to PLN 100 million at Citi Handlowy, the bank said.

“Under the agreement, Żabka may issue bank guarantees at Citi Handlowy up to the amount of PLN 100 million. At the same time, the bank and the company have included sustainable development indicators (KPIs) in the agreement, which Żabka will strive to achieve, ”reads the release.

These goals are: a total reduction of greenhouse gas emissions by a quarter between 1 and 2, and a reduction of GHG intensity in stores by 70% by 2026 (compared to 2020 indicators) and a doubling of sales of brand products by the retail chain. of its own promoting a sustainable lifestyle by 2025.

In its strategy, Żabka declares, inter alia, achieving climate neutrality by 2025 as part of own operations.

“We support our clients in the transformation of their business models towards sustainable development, and we include environmental, social and corporate governance issues in the bank's decision-making processes. We also have our own goals for reducing the carbon footprint, we would like to reduce greenhouse gas emissions by at least 50% and energy consumption by 40% by 2023 compared to 2019, ”said Maciej Kropidłowski, vice president of Citi Handlowy, quoted in the release.

The company Żabka Polska Sp. z o.o. is the owner of the largest chain of convenience stores in Poland.

Citi Handlowy was created from the merger of Bank Handlowy in Warsaw - the oldest commercial bank in Poland and Citibank (Poland) S.A. In addition to classic banking services, the offer of the capital group includes capital market services and products offered by a brokerage house and leasing products. The bank has been listed on the WSE main market since 1997. The bank's total assets amounted to PLN 61.85 billion at the end of 2021.

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