Press Release, February 22, 2008
New York – As part of its commitment to sustainable business practices, today Citi announced that it has been recognized by the U.S. Environmental Protection Agency (EPA) for its leading green power purchase and participation in the Agency's Fortune 500 Green Power Challenge.
Citi is purchasing more than 56 million kilowatt-hours of green power, a 55% percent increase over its purchases in 2007. Citi is buying renewable energy certificates from Constellation NewEnergy, a wholly owned subsidiary of Constellation Energy (NYSE: CEG), and a leading national supplier of green power products. Purchase of certified green wind power will provide 100% of the energy load for the next five years at Citi's newest skyscraper, Two Court Square in Long Island City, New York. The building has been awarded the prestigious Gold Leadership in Energy and Environmental Design (LEED) certification by the U.S. Green Building Council.
"This is part of our approach to embed sustainable business practices throughout our operations, globally – from energy consumption to procurement to IT," said Kevin Kessinger, Chief Operations & Technology Officer. "For Citi, green business is good business. It is an important part of being a responsible corporate citizen and operating the business efficiently."
According to the EPA, Citi's green power purchase is equivalent to avoiding the carbon dioxide emissions of more than 8,000 passenger vehicles per year, or is the equivalent amount of electricity needed to power more than 6,000 average American homes annually.
Green power is electricity that is generated from environmentally preferable renewable resources, such as wind, solar, geothermal, biogas, biomass and low-impact hydro. These resources generate electricity with a net zero increase in carbon dioxide emissions, while offering a superior environmental profile compared to traditional power generation sources. Green power purchases also support the development of new renewable energy generation sources nationwide.
"EPA applauds our Fortune 500 partners for protecting our environment by purchasing green power," said EPA Administrator Stephen L. Johnson. "By voluntarily shifting to renewable energy, Citi is proving you don't need to wait for a signal in order to go green."
As part of its commitment to reduce greenhouse-gas emissions by 10% by 2011, Citi has committed to achieving environmental certification globally for the construction of all new office buildings and operations centers and evaluation of existing larger facilities. In addition to using green power, the Two Court Square building features include:
- Avoidance of 768 tons of carbon dioxide emissions through the use of high-performance window glazing; energy-efficient lighting and air-conditioning systems; lighting controls; and office occupancy sensors.
- Workstations, carpeting and furniture made from recycled materials and/or through eco‑friendly manufacturing processes.
- Views to the outside for 90% of cubicles, offices and conference rooms.
- Approximately 90% (4,590 tons) of structural steel contains post-consumer recycled content.
- Conserving approximately two million gallons of water per year through efficient plumbing fixtures and a storm-water recycling system that captures rain water in a retention tank for use in cooling towers and for all site irrigation.
- An indoor bicycle rack for employees.
- During construction, more than 90% of the waste was recycled and diverted from landfills.