THIS IS CORPORATE CITIZENSHIP. THIS IS CITIGROUP

THE LEADER IN THE GLOBAL FINANCIAL SERVICES INDUSTRY, CITIGROUP IS COMPOSED OF A FAMILY OF COMPANIES THAT INCLUDES ,

CITIFINANCIAL, PRIMERICA, SMITH BARNEY, BANAMEX AND TRAVELERS.

AT THE HEART OF THESE COMPANIES ARE 268,000 EMPLOYEES WHO ARE BASED IN VIRTUALLY EVERY CORNER OF THE WORLD PROVIDING FINANCIAL

PRODUCTS AND SERVICES TO CONSUMERS, CORPORATIONS, INSTITUTIONS AND GOVERNMENTS IN MORE THAN 100 COUNTRIES WORLDWIDE.

TOGETHER, OUR EMPLOYEES ARE COMMITTED TO A STANDARD OF EXCELLENCE IN SERVING OUR CLIENTS IN CONSUMER BANKING AND CREDIT,

CORPORATE AND , INSURANCE, SECURITIES BROKERAGE AND ASSET MANAGEMENT. CHAIRMAN’S LETTER

citizenship—use our wide array of commitment to the communities resources to help enrich people’s of the world. We need each other lives and help preserve the envi- now more than ever. ronment in the communities where Citigroup has been part of the fab- we do business around the world. ric of thousands of cities, villages The report features our many and neighborhoods in more than partnerships with local and inter- 100 countries, dating back to 1812 national non-profit organizations in the U.S. and more than a cen- and governmental agencies, part- tury on other continents. This kind nerships which have enabled us to of longevity gives us a very special learn where we can do the most responsibility to play a significant good and then, once engaged, role in the life of the community. Citigroup aspires to make each stand by our commitment by truly It is a responsibility we take very community a better place simply making a difference. seriously. because we are there. As the largest Never before has making a differ- So I invite you to read our Global financial services provider in the ence been so important. As we Corporate Citizenship Report. We world, we are in a unique position all know, September 11 was a are proud of our many accomplish- to fulfill this mission day in and tragedy that deeply affected us ments and look forward to doing day out. That’s why I am proud to all. Thousands died and people’s even more in the years to come. share with you our 2001 Global lives were changed forever. Yet, Corporate Citizenship Report. as tragic as that day was, it also In the report, you will find illustrated how important it is how our employees—guided by for global companies like ours Citigroup’s high standard of ethics to strengthen their roles as corpo- Sandy Weill and commitment to corporate rate citizens and renew their Chairman and Chief Executive Officer Citigroup Inc.

1 LETTER FROM ROBERT E. RUBIN

Trade liberalization, more open even for many who are doing well. capital markets and market-based These issues must be addressed economics have on balance con- in order to help equip people tributed greatly to global economic around the world to reap the well-being and have reduced the benefits of a modern, rapidly number of people living in poverty changing economy. in many countries around the Recent discussions among the gov- world. But there are still countries ernmental, business and NGO that have benefited very little, if at communities have indicated a new all, from globalization. Great willingness to work together to inequalities within many countries explore how to spread the benefits and a persistently high level of of economic prosperity to countries global poverty must be addressed. and groups that have not yet par- Governments, businesses and ticipated. This is a positive devel- NGOs must work together to make opment and one that we must all progress in overcoming poverty encourage. and in vastly broadening participa- tion in global growth. Lack of education and health services, environmental problems, insecurity and instability plague many areas Robert E. Rubin of a world that is increasingly Director; and Member, interconnected. Trade, technology Office of the Chairman, and rapid change have caused Citigroup Inc. dislocations for some and anxiety

2 TABLE OF CONTENTS

This Is Citigroup Corporate Citizenship...... PAGE 4

Citigroup as a Participant in Local and Global Markets ...... PAGE 6

Community ...... PAGE 8

Environment ...... PAGE 22

Workplace ...... PAGE 36

Investment Opportunities Making a Difference ...... PAGE 41

A Day We Will Always Remember—September 11, 2001 ...... PAGE 42

Corporate Citizenship Awards and Recognition ...... PAGE 44

3 4 CITIGROUP 2001 CORPORATE CITIZENSHIP THIS IS and environmental affairs. issues thatthecompanyfaces, ment, addressing globalization zenship andcommunityinvolve- is responsible forcorporateciti- Vice President atCitigroup and Pamela P. FlahertyisSenior CORPORATE CITIZENSHIP CITIGROUP mental sensitivity. hiring, andculturalenviron- customer privacy, diversityin fair accesstofinancialservices, dards ofethics,fairlendingand locations, weadhere tohighstan- employee volunteerism.Inall financial support,andencouraging providing businessexpertiseand financial products andservices, manner, offering customized nesses inasociallyresponsible center around operatingourbusi- for businesssuccess.Ourefforts healthy communitiesare necessary and werealize thateconomically others istherightthingtodo resources andexpertisetobenefit believe thatextendingour company withalocalfocus.We We takeprideinbeingaglobal better placebecauseweare there. strive tomakeeachcommunitya the worldinwhichweoperateand role communityaround inevery We atCitigroup takealeadership CITIGROUP GLOBALCOMMUNITY the way. our stakeholderstoassistalong throughlearning dialoguewith are committedtolisteningand mental riskmanagement.We also the emerging marketsonenviron- bankers bothdomesticallyandin conduct trainingsessionsforour mental issues.We havebegunto challenges associatedwithenviron- on theopportunitiesand awareness amongouremployees Specifically, wefocusedonraising World Wildlife Fundandothers. added newpartnershipswith World Resources Institute,wealso and International as Conservation environmental organizations, such to expandingourpartnershipswith environment. In2001,inaddition important issuessurrounding the make progress inaddressing Citigroup hascontinuedto CITIGROUP ANDTHEENVIRONMENT All monetaryfigures inthisreport are inU.S.dollars. labor ideas, goodsandservices, globalization—the integrationof We operateinan agewhere GLOBALIZATION ANDCITIGROUP special assistanceprograms. work/life balanceissuesandoffer of helpingemployeeswith We alsounderstandtheimportance our customersaround theworld. better understandtheneedsof business successbyhelpingus of employeescontributestoour the culture. Ourdiversegroup where inclusionisembeddedin ing aworkforce andworkplace nized foritsachievementsinfoster- Citigroup continuestoberecog- WORKPLACE AT CITIGROUP THE INTEGRATION OF IDEAS, GOODS described inthisreport are runby Almost alloftheprograms CORPORATE CITIZENSHIPAT CITIGROUP and globalbusinesses. residents, andthefinancingoflocal training andemploymentoflocal ing tohighbusinessstandards, around theworldwhilecontribut- business inlocalcommunities This enablesustoincrease our tries where wehaveoperations. sensitivity inmore than100coun- local-based employeesandalocal company withalocalpresence, expertise andresources ofaglobal us tocombinethebestof believe ourglobalpresence allows and capital—isaccelerating.We AND SERVICES, LABOR AND www.citigroup.com. reports thatare postedon: initiatives are publishedinseparate on ourdiversityandphilanthropic basis. More detailedinformation philanthropic givingonaglobal Foundation managesCitigroup’s place programs, andtheCitigroup manages ourdiversityandwork- Corporate HumanResources unit corporate unitofCitigroup. The Global CommunityRelations,a together across thecompanyby of theseefforts are brought in ouroperatingculture. Some Citigroup sotheyare embedded the individualbusinesseswithin CAPITAL IS ACCELERATING

5 CITIGROUP 2001 CORPORATE CITIZENSHIP 6 CITIGROUP 2001 LOCAL AND GLOBAL MARKETS their homecountry, moving choose topursuecareers outside employees—of allnationalities— opportunities. Someofour economic growth andemployment financial markets,furtherfostering clients. Thisprocess buildslocal our financial instrumentstoserve new ideasandtheuseof participate inthedevelopmentof to tapglobalcapitalmarketsand financial system.Thisenablesus We alsoparticipate intheglobal communities. the prosperity andsuccessoftheir players andare deeplyinvestedin andcivilsociety local governments economy, workinpartnershipwith employees participateinthelocal being ofallpeople.These the dignityandeconomicwell- human capitalthatissocrucialfor our staff, andthushelpdevelopthe and benefitsalongwithtrainingfor market. We provide goodwages employees whoknowtheirlocal most part,staffed andrunbylocal Our businessunitsare, forthe AND FAMILIES ANDBRINGINNOVATION ANDNEWPRODUCTSTOLOCALCAPITAL MARKETS. WE OPERATE AROUNDTHEWORLD.WEPROVIDEFINANCINGFORGROWINGLOCALBUSINESSES HOLDERS. WEHELPCREATE ECONOMICGROWTHINEACHOFTHEMANYLOCALMARKETSWHERE EMPLOYMENT ANDCAREEROPPORTUNITIES FOROUREMPLOYEESANDVALUE FOROURSHARE- CITIGROUP’S PRIMARY ROLEISTOCREATE QUALITYPRODUCTSANDSERVICES FOROURCLIENTS, CITIGROUP IN LOCAL GLOBAL MARKETS AS APARTICIPANT in allouroperations. values, highstandards andethics a commonsenseofourcorporate the skillsofourstaff andspreads the creation ofnewideas,builds skills are needed.Thisfosters to anotherlocationwhere their regard anyindividualor stakeholder constituencies.We At Citigroup wehavenumerous benefits people. economic developmentwhich practices tothechallengeof of issues—from ourbusiness in dialogueaboutafullspectrum accountability, andparticipation means greater transparency and our businesspractices.Thisalso also addressing relevant issuesin producing economicbenefits, but employment opportunitiesand that meansnotonlyproviding wherever wedobusiness.And viewed asapositivecontributor We recognize thatwemustbe STAKEHOLDER RELATIONSHIPS & to future collaborations. stakeholders andlookforward of theadviceandsupport our programs. We are appreciative expand ourfinancialeducation nity developmentinitiativesand policies, betterfocusourcommu- our consumercredit business They alsohelpedustoenhance ronmental riskmanagement. sustainable developmentandenvi- into actionnewplansrelating to us torefine ourpoliciesandput stakeholder dialoguegroups helped In 2001,suggestionsfrom our we doit. nicate betterwhatwedoandwhy us. We howtocommu- alsolearn that stakeholdersmayhavewith andissues stand specificconcerns a great deal.Itallowsustounder- ing toourstakeholdersteachesus thatlisten- years, wehavelearned of stakeholdergroups. Overthe continuous dialoguewithavariety We maintainfrequent and and others. mental organizations (NGOs) community groups, non-govern- employees, clients,shareholders, andincludeour or external These stakeholdersmaybeinternal in ourcompanyasastakeholder. organization thatisinterested of illicitactivitiesisamatter Stemming theflowofproceeds against terrorism. institutions canplayinthewar to identifytherole thatfinancial participated inmore recent efforts Senior Vice ofCitigroup/Citicorp/Citibank Chairman WILLIAM R.RHODES sions forbasicservices,includinghealth,individualsandtheirfamilies. emphasis onpeople—toupgradetheirskillsthrough educationandtomakeprovi- oflaw;andrespectrule forhuman,civilandproperty rights.Alsoessentialisan andfree-marketgovernance principles;promotion oftransparency; respect forthe wealthy individuals.We havealso with regard toprivatebankingfor laundering guidelines,especially and promoting globalanti-money taken aleadershiprole inadopting transparent andefficient, wehave tem thatisperceived ashonest, benefits from aglobalfinancialsys- tices. Knowingthatourbusiness as fosteringethicalbusinessprac- abuse. We havelongbeennoted global financialsystemfrom number ofwaystoprotect the Citigroup hasbeenactiveina for allparticipantsinthemarket. standards ofgoodgovernance and regulations, andstrict open economieswithclearrules We benefitfrom operatingin MORE TRANSPARENT MAKING THEGLOBALFINANCIALSYSTEM implementing certainfundamentalsthatincludeadherence togood partnershiparesides ofthebusiness/government committedto age job-creating direct investment.To doso,itisessentialthatboth world needtoworktogetherstrengthen institutionsandencour- “ The publicsectorandtheprivateincountriesaround the international privatebanks. international 2000 andagreed tobyleading which were released inOctober known astheWolfsberg Principles, These guidelineslaterbecame privatebanks. for international anti-money launderingguidelines in thedevelopmentofglobal In 1999,Citigroup participated available atwww.citigroup.com. Anti-Money LaunderingPolicyis diligence. TheCitigroup Global Citigroup’s stringentcustomerdue laws andregulations, aswell ensure compliancewithU.S. eign. Thepolicyisdesignedto businesses, bothdomesticandfor- ing Policythatcoversallits based GlobalAnti-MoneyLaunder- activity. Citigroup hasabroad- to identifypotentiallysuspicious advances are enhancingourability everywhere. Technological as welltolaw-abidingcitizens its clientsandstakeholders, utmost importancetoCitigroup, ” Executives forNationalSecurity. Secretariat, andtheBusiness Technicalgators, theBankIndustry Association ofCredit Card Investi- of IndustrialSecurity, International Association, theAmericanSociety BankingSecurity the International Security ManagementAssociation, Counsel,theInternational Advisory national, theOverseasSecurity include: Transparency Inter- going efforts. Theseorganizations promote consistencyintheseon- information onbestpracticesand world tofostercooperation,share organizations from around the broad rangeoffinancialindustry agencies,aswella regulatory enforcement, administrativeand Citigroup alsoworkswithlaw financing andinformationsecurity, money laundering,fraud,terrorist the globalnature ofcombating Recognizing thecomplexityand institutions. andfinancial governments dented globalcooperationbetween challenges andrequires unprece- activity, thiseffort presents new necessarily derivefrom criminal used infinancingterrorism donot agencies.Sincefunds governmental identifies areas fordiscussionwith play inthewaronterrorism and role thatfinancialinstitutionscan ism. Thisstatementdescribesthe pression oftheFinancingTerror- Wolfsberg StatementontheSup- including Citigroup, issuedthe tional financialinstitutions, In early2002,agroup ofinterna-

7 CITIGROUP 2001 LOCAL AND GLOBAL MARKETS 8 CITIGROUP 2001 COMMUNITY COMMUNITY for businesssuccess. communities arenecessary that economicallyhealthy thing todoandwerealize to benefitothersistheright our resourcesandexpertise We believethatextending well asanumberofcountry-based and Women’s World Banking,as GrameenFoundation International, nance networks,suchasACCION in 2001.Oursupporttomicrofi- the parametersoftheseprograms Citigroup continuedtoexpand the worldformore than20years, microlending programs around A pioneerandfunderof CITIGROUP’S SUPPORTOFMICROLENDING volunteers. providing fundingandemployee management expertise,alongwith access totechnicalassistanceand customized products andservices, Our involvementincludesoffering DEVELOPMENT ANDSAVINGS INCENTIVEPROGRAMS. SPECIAL NEEDSFACILITIES, CAPACITY BUILDINGFORNGOSANDNON-PROFITS,SMALLBUSINESS HELP FOSTERHEALTHY ECONOMIES—MICROLENDING,FINANCINGAFFORDABLEHOUSINGAND CITIGROUP PARTICIPATES INABROADRANGEOFCOMMUNITYBUILDINGINITIATIVES THAT

MAKINGCOMMUNITIES WE ARETHERE traditional hard-lending channels. helping themgainaccessto increased self-sustainability by these institutionstomovetowards . Itspurposeistoenable interest loansfrom commercial supported MFIstoobtainlow- enabling thecountry’s USAID- Wholesale FundingFacility. Itis Citibank inJordan developedthe Policy Reform(AMIR)Program, Improved Implementationof the AccesstoMicrofinance and tional Development(USAID)and with theU.S.AgencyforInterna- In 2001,through apartnership Self-Sufficiency Transition Towards nized outstandingentrepreneurs. introduced programs thatrecog- degree ofself-sufficiency, aswell solely ongrantstoachievinga (MFIs) transitionfrom relying in helpingmicrofinance institutions $4.5 million.We alsoledtheway letters ofcredit issuedtotaling grants totaling$3.5millionand providers, increased by25%with BETTER BECAUSE 2001 issupportingtheexpansion the GrameenFoundationUSA in ment thatCitigroup madethrough A three-year, $1.3million commit- Markets forCitigroup Among NewMicrocredit China, AlgeriaandMorocco from theproject. clients are expectedtobenefit An estimated176,000SEWA project with$109,000ingrants. Foundation issupportingthis financial planning.TheCitigroup trained invariousaspectsof with SEWA clientsare being financial counselorswhowork tion (SEWA). Through this project, Self-Employed Women’s Associa- cial EducationProject withthe through theCitibankIndiaFinan- 2001, weexpandedoursupport in Indiathatbenefitwomen.In support tomicrolending programs continues toleadprivatesector As reported lastyear, Citigroup made possiblebythistransaction. benefit from loansoremployment 17,000 individualsare expectedto credit totheMFIs.More than the commercial banksthatprovide while alsoissuingguaranteesto financed byUSAIDthrough AMIR, agent forthe$6millionfacility Citibank Jordan actsastheescrow

9 CITIGROUP 2001 COMMUNITY 10 CITIGROUP 2001 COMMUNITY • Citigroup Launches 1996 Fund (SDF).Thisfundwillprovide capitalize itsSocialDevelopment de DevelopmentSocial(ADS)to Citigroup partnered withAgence expanded intoAlgeriawhere Our microfinance outreach also microfinance. ness ofalleviatingpovertythrough credit Summittoheightenaware- and NGOsforaNationalMicro- together nationalpolicymakers Funds alsowillbeusedtobring access tocredit to14,000families. and Western Chinatoprovide microcredit programs inCentral establish orexpandsixadditional most successfulMFI,FPCplansto Considered tobethecountry’s Cooperative (FPC)andotherMFIs. of China’s FundingforthePoor Citigroup’s ofCitibank,N.A. HeadofEmerging MarketsandChairman VICTOR MENEZES nesses isessentialtothevitalityofourmarkets. howtobuildandgrowalleviation. Helpingpeoplelearn small,sustainablebusi- prise Program Banking onEnter- $10 Million,Five-Year MICROLENDING Highlights ofCitigroup’s Support of is makingadirect andmeaningfulcontributiontoward poverty ties are interdependent. Bysupportingmicrofinance, Citigroup We havelongbelievedthatstrong businessesandstrong communi- to helpthecommunitiesaround theworldinwhichwedobusiness. “ Our successhasgivenustheability—andresponsibility— • 1997 the U.S. in LatinAmericaand port NewInitiatives International toSup- vided toACCION Transfer” GrantPro- $1.5 Million“Success businesses inMexicohavebeen tion, Banacci.Ourexisting Mexico’s leadingfinancialinstitu- In 2001,Citigroup acquired Supports PoorinMexico Banamex’s FondoAccionFund domestic microfinance sector. kind amongmultinationalsinthe with Al-Amanaisthefirstofits Citibank Morocco’s partnership through employeeoutreach efforts. business developmentoffered technical assistanceandstrategic funds are beingsupplementedwith $100,000 toAl-Amana.These Morocco, where weawarded for Citigroup in2001was Another newmicrocredit market pated 24,000individuals. interest ratesubsidiestoanantici- • LeadCorporateSpon- 1997 lies by2005 World’s Poorest Fami- to 100Millionof Extend Microcredit Summit Campaignto sor forMicrocredit ” • Partnered withSmall 1998 Building Grants vide Capacity work (SEEP)toPro- and Promotion Net- Enterprise Education of MFIs,Citibank,theCitigroup To recognize outstandingclients Recognize Excellence Micro Entrepreneur Awards Citibank-ACCION International practices. gies andsustainableagricultural promote newagriculturaltechnolo- in 2001,alongwithhelpingto fund benefited150,000individuals andtextiles.The fishing, forestry such ascattlebreeding, farming, poorest areas engagedintrades nous organizations inMexico’s to low-incomegroups andindige- Fund provides continuoussupport Investment Fund.FondoAccion Development /Multilateral Banamex andtheInteramerican in 1995byFomentoSocial established with$12.2million Fondo AccionFund,whichwas them. Amongitsactivitiesisthe and iscommittedtosupporting are society’s greatest challenges and preservingtheenvironment believes thatovercoming poverty Fomento SocialBanamex,A.C. civil foundationinMexico, Banamex. Banamex’s non-profit and operateunderthebrandname integrated withthoseofBanacci • Citigroup Provides 1998 Banking Program International’s Village Support FINCA $150,000 Grantto • Citigroup Commits 1998 Philippines Thailand andthe Korea, Malaysia, Indonesia, South Grameen Bankinto Expansion of dation toSupport port GrameenFoun- Three Years toSup- $1 MillionOver • 1999 $1.7 Million Reaches Grant Support Microlending Microcredit ClientinIndia Asia-Pacific Group Head ofCitibank’s ConsumerBank Executive Vice President FRITS SEEGERS the championformicrofinance inthebankingindustry. the awards program. four countriesandtounderwrite assistance foritsaffiliates inthese Citigroup toprovide technical $1 millionfrom 2000to2002 from ACCION isreceiving more than were presented inOctober2001. first awards, whichare cashprizes, Brazil, ColombiaandMexico.The Entrepreneur Awards inArgentina, MicroACCION International tional establishedtheCitibank- Foundation andACCIONInterna- as aneffective toolinbreaking thepovertycycle.We intendtobe is theonlybank,localorforeign, thathasembracedmicrofinance another andfurtherimprove the sector. InthePhilippines,Citibank enthusiasm amongMFIstoshare from theirknowledge,learn one “ • The robust attendanceatthe Microcredit showedan Forum 2000 added asnewmarkets Slovakia andTurkey Spain, Bangladesh, $2.8 Millionwith Support Reaches Microlending Grant • 2000 Challenge African Century Shared Interest’s Africa through Support toSouth Citigroup Expands 1980: and opportunities. forum toaddress microcredit issues from across Asiaattendedthis pines, alongwithCEOsofMFIs 20 NGOsfrom across thePhilip- Representatives from more than Forum inManilaMay2001. held theAsianMicrocredit Grameen Trust andPHILNET, Grameen FoundationUSA, Citigroup, incooperationwith in Asia Development Program Held Microfinance Management Microcredit Forumand GRANT FIRST OF ” $5,000 MICROENTERPRISE • 2001 $3.5 Million Support Reaches Microlending Grant MADE TO ACCION as co-facilitators. 2002 withouremployeesserving are beingaddedtotheprogram in success ofMFIs.More workshops overall strategytohelpensure the this program ispartofCitigroup’s representatives ofMFIs.Thegoal agement DevelopmentProgram for country’s firstMicrofinance Man- Consumer Banklaunchedthe at theforum,Citigroup’s Global upon themomentumthatbegan In November2001,tobuild DEVELOPMENT • 2001 Romania, U.K. Lebanon, Morocco, bia, Jamaica,Jordan, Brazil, China,Colom- Argentina, Barbados, kets Added—Algeria, A DozenNewMar- • 2001 Developed inJordan Funding Facility First Wholesale 11 CITIGROUP 2001 COMMUNITY 12 CITIGROUP 2001 COMMUNITY the localcommunitytowork business withanindividualfrom program pairsanindividualfrom in SouthEastLondon.The program through thePrince’s Trust ness mentorshipandmicrolending address thisweare fundingabusi- tion isgreatly neededhere andto impoverished. Economicrevitaliza- ough ofLondonthatisextremely Wharf ontheIsleofDogs,abor- has alarge operationatCanary In theUnitedKingdom,Citigroup Economic RevitalizationinU.K. lending Program Addresses Business MentorshipMicro- total $800,000. lio of$2.5billion.In2001–2002,Citigroup’s supportofWWBwill million low-incomewomen,withanaggregateoutstandingloanportfo- ports organizationsgloballythatprovidefinancialservicestoover12 orations basedoncommonpurposeandmutualbenefit.WWBsup- financial institutionssupportingmicrofinancethatarebuildingcollab- Microfinance (GNBI).Thisnetworkiscomprisedofleadingregulated World Banking’s (WWB)GlobalNetworkforBankingInnovationin In April2001,CitigroupbecameafoundingmemberoftheWomen’s NETWORK FORBANKINGINNOVATION INMICROFINANCE CITIGROUP ISFOUNDINGMEMBEROFWWB’SGLOBAL from $8.5billionto$21billion. ties bynearly140percent, going moderate-income (LMI)communi- lending andinvestinginlow- 1997 to2001,weincreased our the timeofits1998merger. From community commitmentitmadeat toric ten-year, $115billionU.S. icant progress inmeetingthehis- Citigroup continuestomakesignif- BUSINESSES MAKINGADIFFERENCE available. which micro loanswillbemade together onbusinessplansfor minority families,newimmigrants, our reach tothousandsofLMIand our partnershipstofurtherextend in 2001.We continuedtoleverage $3.4 billionin1997to$12 ment lending,increasing from business andcommunitydevelop- the fieldsofmortgages,small sive growth of250percent in Citigroup alsorecorded animpres- Meeting our1998Community COMMITMENT GOAL Lending andInvesting Islands campusisourfinest sity (CSU)foritsnewChannel StateUniver- in 2001toCalifornia CCDE’s financingpackageprovided two years. an increase of107percent over $892 million,whichrepresents 2001, CCDElentandinvested development intheU.S.During zations engagedincommunity to non-profit andfor-profit organi- cost-effective financingpackages innovative, comprehensive and group’s businessestoprovide draws resources from across Citi- ered impressive results. CCDE ment Enterprise(CCDE)alsodeliv- Center forCommunityDevelop- NorthAmerica,our Serving Hispanic ChamberofCommerce. major relationship withtheU.S. in 2002.We alsoestablisheda Business thatisbeingrolled out strategy withintheConsumer comprehensive Hispanicmarketing In 2001,Citigroup launcheda the country. other emerging marketsacross householdsand underserved • Tax-exemptrevenuemortgage • Letter ofcredit from CCDE • $50 milliontax-exemptbond • $7.5 millionlineofcredit from package included: employment atthecampus.The tive tooffer thoseconsidering staff togiveCSUanaddedincen- on theeastcampusforfacultyand 900 newaffordable housingunits financing isbeingusedtoconstruct tura Countyreal estatemarket.The is locatedinthehigh-pricedVen- of ourresources. Thisnewcampus example todateofthebroadest use housing units; construction ofupto350rental marketed bySSBtofinancethe and bonds underwritten independently; developed tosupportthem bonds untilenoughhomesare to enhancetheinfrastructure infrastructure development; to financetheeastcampus (SSB) by SalomonSmithBarney andmarketed issue underwritten CCDE forpredevelopment; Citigroup CCDEprovidedfinancingforColumbiaPointedevelopmentinChicago neighborhoods. or provide employmenttourban companies thatare locatedin early- andmid-stagegrowth Partners targets itssupportto in Philadelphia,PA. UrbanGrowth a mid-AtlanticCDFIheadquartered The ReinvestmentFund(TRF), tal fundformedandmanagedby munity developmentventure capi- in UrbanGrowth Partners,acom- was a$3millionequityinvestment unit’s majornewinitiatives in2001 Amongthe cial andsocialreturns. focused ongeneratingbothfinan- CCDE’s investmentunit’s goalsare • Special mortgageloansoffered by • Construction financingfrom • Letter ofcredit from CCDEfor CitiMortgage forfacultyandstaff. retail village;and homes anda50,000-square-foot CCDE forfor-sale, single-family the mortgagerevenue bonds; 13 CITIGROUP 2001 COMMUNITY 14 CITIGROUP 2001 COMMUNITY services, in2001Citibankand services, expand accesstoourproducts and Continuing toseekoutways to Financial Education Products and andServices Businesses ExpandAccessto these clients. solutions thatare appropriate for over 1,200foreclosures tofind Chief AdministrativeOfficer forCitigroup’s ConsumerGroup Senior ExecutiveVice President and MARGE MAGNER broker controls andsuspending menting aseriesofstringent premium credit insurance,imple- These includeddropping single- secured sub-primelendingpolicies. enhancements toourreal estate- Financial introduced further industry, lastyearU.S.-based Citi- sidered amongthebestin protections havealwaysbeencon- While ourbusinesses’consumer from acrossthecountryasitsfirstAcademyof spring, Citigroupnamed20graduatingseniors develop essentialpersonalfinanceskills.Last financial servicesindustry, thesestudentsalso Sanford I.Weill. Whilepreparingforcareersinthe and chairedbyCitigroupChairmanCEO, the NationalAcademyFoundation(NAF),founded on existingones. IQs byintroducing newfinancial educationprograms andbuilding individuals andinstitutionsopportunitiestosharpentheirfinancial services leader, wecontinuetostrengthen ourcommitmenttooffer financialchoices.Asaglobal you needtomakeinformed “ Getting yourmoneytoworkforyoumeanshavingtheknowledge ” Finance, aprogramof attended Academiesof than 17,000students During 2001,more FOUNDATION NATIONAL ACADEMY and accesstocredit. fers, discountsonhomemortgages moneytrans- low-cost international including: free checkingaccounts, Mortgage products andservices ica’s offerings are CitibankandCiti- Included amongTogether inAmer- discounted andadvantagedrates. at financial andeconomicservices bers accesstomainstream health, America isbyproviding itsmem- ethnic background livingin lives ofimmigrantsfrom every fills itsmissionofimproving the ways thatTogether inAmericaful- Together inAmerica.Oneofthe for immigrantAmericanscalled national membershipassociation sponsors ofanewlycreated CitiMortgage becamefounding School ofEconomicsandFinance. and ChairmanoftheAdvisoryBoardforHigh and (onright)CharlesO.Prince,Citigroup’s COO, Raymond, PresidentoftheCitigroupFoundation, nomics andFinance(center)are(onleft)CharlesV. Justin Wong ofManhattan’s HighSchoolofEco- Pictured herewithCitigroupAOF2001Scholar local academieswith$2.2million. from Citigroup.In2001,wesupportedNAFand along withinternshipopportunitiesandamentor vides thoseawardedwith$20,000scholarships, Finance (AOF)Scholars.Thisannualprogrampro- towards financialindependence.In low-income individualswork which are savingsprograms tohelp headed theestablishmentofIDAs, In theU.S.,Citigroup hasspear- gage product. take advantageofaspecialmort- on ahome.Participantsalsocan (IDAs) tosaveforadownpayment Individual DevelopmentAccounts savings accounts,alongwithan cat program participantsno-fee ates. Citibankalsoisoffering Wild- consultations forWildcat gradu- includes classesandone-on-one homeownership program, which financial counselortocreate a Wildcat tofundaprofessional Citigroup provided agrantto in jobsatWall Street companies. gram thatplacesWildcat graduates PartnershipPro-Private Industry SSB isasponsorofWildcat’s fare recipients inNewYork City. ex-addicts, ex-offenders andwel- and workplacementprogram for nization’s highlysuccessful training education componenttotheorga- 2001 byaddingahomeownership Wildcat Corporationin Services We deepenedourrelationship with Program, whichisamulti-faceted strengthen itsUrbanMarkets Travelers alsocontinuedto information. loss prevention andsafety Travelers delivered toconsumers Week. Through thisinitiative, 2001 NationalNeighborWorks hood ReinvestmentCorporation’s unit participatedintheNeighbor- ance inurbanareas, ourTravelers improve theaffordability ofinsur- to increase theavailabilityand As partofanongoingeffort Work program. sites through Citibank’s Bank-at- bank’s retail locationsandother seminars covering21topicsatthe 23,000 consumersattended1,400 across theU.S.in2001.More than financial educationseminarseries Citibank continuedtooffer itsfree the program byJune2002. women are expectedtocomplete and Rochester. More than1,000 Miami, theDistrictofColumbia low-income womeninDelaware, Empowerment IDAPrograms for established fournewFinancial USA, Citigroup andtheYWCA grant madetotheYWCAof $1 millionCitigroup Foundation 2001, usingapreviously awarded Young InvestorsNetworkWeb site. re-launched itsaward-winning In June2001,SmithBarney initiatives. consumers participatedinthese kets. During2001,24,000 participation inthefinancialmar- munities andtoexpandminority educate andfosterinformedcom- to and HispanicInitiativesserve Smith Barney’s AfricanAmerican events inmanymajorU.S.cities. programs thatfeature educational Investors Initiativesare ongoing Its Women, Parents andNextvestor investing andthefinancialmarkets. investors agreater insightinto women, minoritiesandyoung education programs thatgive ship ofitsTarget Marketinvestor continuedsponsor- Smith Barney business ownership. aimed atincreasing homeand supporting communityactivities access toTravelers products; and provide smalleragencieswith aging GeneralAgencies(MGAs)to porting theestablishmentofMan- and appointingurbanagents;sup- It includestraining,mentoring alty insuranceinurbanmarkets. to andsalesofproperty andcasu- strategy aimedatexpandingaccess launched aFree Credit Report In December2001,CitiCards tools theyneedtospendwisely. and free financialmanagement young adultswiththeguidance Cards iscommittedtoproviding to collegestudentsintheU.S.,Citi As thelargest issuerofcredit cards schools. 13,056 teamsrepresenting 1,122 of 34,799studentsparticipatedon a ten-weekperiod.In2001,total sell simulatedshares ofstocksover fixed amountofmoneytobuyand able portfolio.Theystartwitha compete togeneratethemostvalu- students from around thecountry teamsof Using theInternet, Sharemarket GameinAustralia. dents isSSB’s ASXSchools tion program forhighschoolstu- Another hands-oninvestingeduca- sophistication ofitsusers. enhanced toreflect theincreasing ents andchildren, thesitewas focus group research amongpar- re-launch in2001.Basedonnew zine in2000andagainafterits Investing forKids”by site wasvoted“BestoftheWeb— Originally introduced in1998,the Forbes maga- 15 CITIGROUP 2001 COMMUNITY 16 CITIGROUP 2001 COMMUNITY Cards Credit-ED program reaches Established in1999,theCiti credit-related topics. along witheducationalmaterialson free copyoftheircredit report, dent cardmembers canreceive a this newinitiative,CitiCards stu- sive Credit-ED Program. Through Initiative aspartofitscomprehen- ec hlrnt ae18,000 176,000* 24,000 10,000* that willalsobenefitinto2002. 3,000,000+ 17,000 *Denotes program wasintroduced in2001andthesefigures reflect those 2,500 Teach Children toSave African American,HispanicandNextvestor Parents, Young Investors,Women, 23,000 SSB’s Target MarketInitiatives— Association inIndia 34,799 Self-Employed Women’s Reinvestment Corporation National Community National AcademyofFinance Junior Achievement Administrators Program Citi Card Credit-Ed Program— Citibank FCSeminarSeries Australian Sharemarket Game RGASPEOPLESERVED PROGRAMS FINANCIAL EDUCATION PROGRAMSIN2001 Highlights ofOur to studentsaround theworld. Citibank makesloansavailable site, www.credit-ED.citibank.com. events, andaresource-filled Web pus administratorsandatcampus tising, materialsdistributedtocam- through mediathatincludesadver- college anduniversityintheU.S. majorfour-yearstudents atevery no guaranteesorguarantors. NIIT studentsloansthatrequire its kindinIndia.Citibankoffers training curriculumisthefirstof nology (NIIT).NIIT’s computer National IndianInstituteofTech- Egypt hasestablishedwiththe programs isonethatCitibank Among ourspecialstudentloan tions nationwide. non-profit communityorganiza- tions madeatlocalschoolsand 18,000 studentsthrough presenta- kits, employeeshavereached Teach Children toSaveresource cific lessonsfrom theABAEF’s (ABAEF). UsingK-12grade-spe- ation EducationFoundation with theAmericanBankersAssoci- across inpartnership thecountry to SaveProgram, whichwasoffered forCitigroup’s Teach Children stand why. Theseemployeessigned to helpthenextgenerationunder- in theU.S.volunteered lastyear over 600Citigroup employees Saving moneyhasitsrewards and Education Foundation American BankersAssociation FINANCIAL EDUCATION OUTREACH PARTNERSHIPS HELPUSEXPAND than 100,000students. BIA in24countriestoreach more environment. Citigroup hasfunded make decisionsinacompetitive the role ofbankmanagersandto ties toallowstudentsassume andteam-buildingactivi- learning BIA usescomputersimulation,and Romania, SpainandtheUkraine. including Argentina, Japan, offered innumerous countries, Country CorporateOfficer ofCitibankTaiwan ERIC CHEN students andteachersis has beenhighlypraisedby one ofthesenewprograms that ones. BanksinAction(BIA)is programs, alongwithstartingnew five yearstohelpsustainexisting been contributedoverthepast students. Closeto$2millionhas and financetolifeformillionsof bringing theworldofbusiness and inmore than35countries, ment programs onfourcontinents Citigroup supportsJuniorAchieve- Junior Achievement TEACHING CHILDREN study, despitethelimitationsoftimeanddistance. opportunitytothosewhohavetheneedanddesiretive learning to throughInternet EduCities,weare abletooffer thisfree, interac- more the aboutmanagingtheirpersonalfinances.Byharnessing “ We are committedtooffering allpeopleopportunitiestolearn TO SAVE AT AT tion forTeaching Economicsin Leaders, aprogram oftheFounda- we supportedwasEconomicsfor Another newinitiativein2001that Economics Foundation forTeaching with a$100,000grantin2001. Foundation supportedEduCities and year-end. TheCitigroup course loggedbetweenitslaunch with closeto15,000visitsthe 200 wasreached withinfourdays public. Theenrollment capacity of classes EduCitiesoffers tothe cessful courseamongthe1,900 became themostpopularandsuc- employees, theseriesquickly whelming. Taught byourlocal EduCities, theresponse wasover- on theonlineeducationalWeb site, inar SeriescourseinOctober2001 launched itsPersonalFinanceSem- When Citigroup inTaiwan EduCities P.S. 185 IN HARLEM ” tions, launchedthe1000Churches NYSE andotherfinancialorganiza- Rainbow/PUSH, Freddie Mac, the Citigroup, inpartnershipwith Rainbow/PUSH this program. 10,000 peoplewillbenefitfrom it isexpectedthatmore than borhoods. From 2001to2002, income individualsintheirneigh- educate low-andmoderate- Spanish, whichtheywilluseto curriculum inbothEnglishand provided withafinancialeducation counselors. Theyare alsobeing asfinancialeducation country nity organizations across the tives from more than500commu- program iscertifyingrepresenta- in 2001.This“trainthetrainer” Program waslaunchedintheU.S. Financial EducationLeadership Coalition (NCRC),theCitigroup National CommunityReinvestment Through apartnershipwiththe Reinvestment Coalition National Community market system. a betterunderstandingofthefree and socialstudiesteachersachieve close to200highschoolseniors Republic. Thisprogram willhelp Hungary, SlovakiaandtheCzech 17 CITIGROUP 2001 COMMUNITY 18 CITIGROUP 2001 COMMUNITY gram forNGOsinIndonesiawas In 2001,acapacitybuildingpro- and leadership. ners inbuildingtheirowncapacity work toassistourcommunitypart- products We andservices. also to offer themcustomizedfinancial vidualized financialprograms and around theworldtodevelopindi- non-profit communitypartners ted toworkingwithourNGOand Citigroup’s businessesare commit- NON-PROFIT PARTNERS CAPACITY BUILDINGFOROUR communities. take thisinformationbacktotheir to localchurch leaderswhowill a workshopseriesbeingpresented training modulesthatare partof develop andare teachingseveral Citigroup employeeshelped through theirlocalchurches. tion tominoritycommunities tive istoprovide financialeduca- 2001. ThegoalofthisU.S.initia- Connected initiativeinOctober Sub-Saharan Africa,itformsa throughout theworld.In tonon-profitservices institutions Citigroup alsoprovides banking and theNewYork metro area. Chicago, Miami,Washington, D.C. in 2001includedLosAngeles, conferences inlocalmarketsthat Citigroup alsohostednon-profit Development Coalition(NDC). organizations suchastheNational wish toattendcoursesoffered by for ournon-profit partnerswho 2001. TheInstitutecoversthecost 1,500 non-profit organizations in programs attendedbymore than technical assistanceandtraining Development Institutesponsored In theU.S.,Citigroup’s Community mental workshopsfor123NGOs. funding thatwillsupportdevelop- Foundation andare providing commitment totheMitraMandiri program. We madeathree-year Citibank Pekacommunity added toourlong-standing impact tolocalcommunities. deliver maximumdevelopmental organizational efficiency andhelp their fundseffectively, improve among others,useanddistribute that bilateralagenciesandNGOs, profit institutions.We alsoensure 35 percent ofthemarket’s non- over base. CitibankKenyaservices significant partofourcustomer the managerialcourseeachyear. entrepreneurs willparticipate in resources. LBSestimates2,500 cal infrastructure andinformation nishing theCentre’s library, techni- of $250,000willgotowards fur- medium-sized businesses.Funding course targeted tohelpsmall- and vides anaccredited managerial Studies in2001.TheCentre pro- of theCentre forEntrepreneurship helped tosupporttheconstruction (LBS) inNigeria,CitibankNigeria with theLagosBusinessSchool Through itsten-yearpartnership OF ENTREPRENEURS CITIGROUP STRENGTHENSSUPPORT the AustralianIndigenousLeader- , inpartnershipwith In July2001,Citigroup in development andeducation. also focusoursupportoncareer to realize theirfullestpotential,we enables individualsandsocieties Recognizing thatknowledge EDUCATING THENEXTGENERATION LEADERSHIP DEVELOPMENTAND together withkeycorporations. fessionals andcollegestudents panic womenentrepreneurs, pro- across thatbringHis- thecountry series features conferences held (magazine) BusinessSeries.The sponsors ofthe became oneoffivecorporate In theU.S.lastyear, Citibank and Torres StraitIslanderStudies Principal, AustralianInstituteofAboriginal RUSSELL TAYLOR encouragement andpreparation forexistingandfuture leaders. national levels.We are confidentthatitwillserveasacatalystandmeansof indigenous leadershipdevelopmentprogram atlocal,community, regional and “ LEADERSHIP The AustralianIndigenousLeadershipProgram fulfillsacriticalneedforan Latina Style DEVELOPMENT, EDUCATION High schoolstudentsatthe ment University(SMU)in2001. Singapore, atSingapore Manage- Program, thefirstofitskindin ful FoundationsinFinance(FIF) In 2001,weexpandedoursuccess- expertise andteachingcourses. providing financialmanagement in theprogram through mentoring, Our employeesare alsoengaged individuals across thecontinent. ship coursesfor125indigenous providing fullyaccredited leader- 2000 to2002,thisprogram is totaling $424,000awarded from Citigroup Foundationgrants ship Program. Fundedwith the AustralianIndigenousLeader- ship Centre (AILC),introduced AND CAPACITY ” BUILDING Our employeesvolunteered plans andcompeteforcashprizes. are invitedtosubmitnewbusiness students from around theworld tions, teamsofundergraduate & Harvard BusinessPlancompeti- Modeled aftertheWharton Yew BusinessPlanCompetition. of thefirstSMU—LeeKuan the principalpresenter andsponsor Last year, Citigroup alsobecame Foundation grant. ported witha$100,000Citigroup The program’s expansionwassup- within Citigroup’s localbusinesses. and participateininternships as theSingapore StockExchange, can takefieldtripstoplacessuch dents participatinginthisprogram by ouremployees,highschoolstu- finance andbankingclassestaught lum. Alongwithattendingspecial by supplementingthecore curricu- a strong foundationinfinance program, whichaimstoprovide can nowtakeadvantageofthis School AngloChinese Secondary FOR NON-PROFITS 19 CITIGROUP 2001 COMMUNITY 20 CITIGROUP 2001 COMMUNITY applied. to selectfrom among200who was sohighthatacommitteehad students, interest intheprogram on-line banking.Designedfor50 banking lawandcompliance, topics includingforeign exchange, have developedthemselveson volunteers usingmaterialsthey are beingdelivered byCitibank Global FinanceAcademy. Lectures under thenameofEwha-Citigroup with EwhaWomen’s University cation program whichitlaunched Korea’s financialedu- international Also newin2001wasCitigroup Citigroup Foundationgrant. supported witha$50,000 the competition,whichis to beamongthosewhojudge President oftheCitigroup Foundation CHARLES V. RAYMOND ties bysupportingcommunityrevitalization andsmallbusinessdevelopment. reward employeevolunteerism. program andaVolunteer Incentive Program(VIP)toencourageand previous year. TheFoundationalsoadministersagift-matching $67 millioningrants,anincreaseofmorethan25percent overthe ported localcommunityactivitiesaroundtheworldwithmore than In 2001,theCitigroupFoundationandCitigroup’s businesses sup- in theirfutures. Itmeansenrichingthequalityoflifeincommuni- financial knowledgeandaccesstoeducationthattheyneedinvest Citigroup anditsemployees.Itmeansproviding individualswiththe means providing organizations withaccesstothefullresources of “ Philanthropy atCitigroup meansmore thangivingdollars. It 2001. Thesefundsare targeted for Citibank CyberSchoolInitiativein of $373,800ingrantsthrough the and thePhilippinesreceived atotal China, Thailand,Malaysia,Vietnam Schools inlow-incomeareas of to usesoftware andtheInternet. employees helpedtrain36teachers their newPClab.More than100 ing teachersmaximizetheuseof receive thetrainingaimedathelp- School wasthefirstschoolto public schools.KrusnaLigasHigh for Educationcomputerlabsinsix state-of-the-art CitibankCenters group Foundationgranttoopen gram alsoreceived a$54,000Citi- Public Schoolsprogram. Thepro- training componenttoitsPCsfor pines addedacomputerliteracy In 2001,CitibankinthePhilip- ” future generationsofourgraduates. efforts willgoalong waytohelpmany most ofthisnewequipment.These our studentsandteacherstomakethe puter literacytrainingthatisenabling Center forEducationandthecom- Principal, Krus naLigasHighSchool Principal, Krus DR. LEVITA RAMOS “ share themwithothereducators. their great ideasintoactionand teachers theopportunitytoput and Guam,givingthousandsof , Singapore, HongKong Florida,Georgia,in California, to supportSuccessFundPrograms provided grantstotaling$798,000 In 2001,theCitigroup Foundation aimed athelpingstudentssucceed. replicable, grassroots programs to developinnovative,easily that awards grantstoeducators is theCitigroup SuccessFund Another multi-marketprogram opportunities. educational andemployment they needtocompeteforbetter will developthetechnologyskills teacher trainingsothatstudents establishing computerfacilitiesand We appreciate truly Citibank’s new ” of $94,600. also madealocalinvestment and Putumayo.CitibankColombia income ColombiancitiesofSoacha low- to buildschoolsinthevery dation awarded $100,000ingrants dren. In2001,theCitigroup Foun- to benefitmore than2,000chil- and togathereducationsupplies helping tobuildschoolfacilities In Colombia,300employeesare teer activitiesishands-onbuilding. One ofCitigroup’s leadingvolun- interests andbackgrounds. that reflect theirdiverseconcerns, well asthrough individualcauses company-sponsored projects, as nities. Theygetinvolvedthrough year volunteeringintheircommu- world logthousandsofhourseach Citigroup employeesaround the EMPHASIS ONVOLUNTEERS BUILDING COMMUNITIESWITHAN Founder andPresident ofHabitatforHumanityInternational MILLARD FULLER have decent,affordable shelter. side withfuture homeowners,helpingdozensoffamiliesinneedaround theworld grant dollars,Citigroup employeeshavevolunteered theirtime,workingside-by- to strengthening communities.Inadditiontothemuchneededandappreciated “ WE We are gratefultoCitigroup fortheirgenerous supportandfortheircommitment ARE HELPING TO BUILD ” HOMES a second$1milliongrantto In 2001,Citigroup awarded HFHI (HFHI)in2000. ity International grant madetoHabitatforHuman- gram launchedwitha$1million Humanity employeevolunteerpro- Communities withHabitatfor munities istheCitigroup Builds on involvementinbuildingcom- Another exampleofourhands- Citigroup’s ConsumerGroup, and Board MemberofHFHI President ofCitigroup, andCEOof Chairman ROBERT WILLUMSTAD we are there. ment tostrivemakeeverycommunitywhere weoperateabetter placebecause volunteerism andgeographicbreadth thatHabitat offers aptlyreflects ourcommit- FOR DESERVING ” “ ownership. Thecombinationofphilanthropic giving,employee families canfeelconfidentinassumingtheresponsibility ofhome- to ensure thatqualityaffordable financialproducts are availableso them thegoalofhelpingtodevelopqualityaffordable housingand Our partnershipwithHabitatisanaturalonesinceweshare with FAMILIES— HABITAT $9.4 millioninHabitatmortgages. invested andpurchased atotal of addition, Citigroup CCDEhas in 2001totaled$3.3million.In and itsaffiliates around theworld kets. Total grantsmadetoHFHI ates inlocaloverseasandU.S.mar- additional supporttoHabitataffili- Citigroup’s businessesalsoprovide 64,000 volunteerhours. than 6,000employeeslogging in 20stateswithhelpfrom more resulted in63Habitathomesbuilt the U.S.To date,thisprogram has constructing Habitathomesacross business unitsastheyworkon unites employeesfrom across strengthen thisprogram, which BUILD IN BOLIVIA 21 CITIGROUP 2001 COMMUNITY 22 CITIGROUP 2001 ENVIRONMENT ENVIRONMENT is growingstronger. ship andsustainabledevelopment that encompasscorporatecitizen- the trulychallengingconcerns Our commitmenttoengagingin SIGNIFICANT PROGRESSINOURSUSTAINABILITY EFFORTS SINCEOURFIRSTREPORT LASTYEAR. ABLE DEVELOPMENTISGROWINGSTRONGER,EVENASWERECOGNIZETHAT SOLUTIONSTOTHESECHALLENGES ARENOTOBVIOUS.WEHAVE MADE UNDERTAKING. OURCOMMITMENTTOENGAGINGINTHETRULY CHALLENGINGCONCERNSTHAT ENCOMPASS CORPORATE CITIZENSHIPANDSUSTAIN- WE APPRECIATE MOREANDTHAT ADDRESSINGENVIRONMENTAL ANDSOCIALSTEWARDSHIP ISADIFFICULT ANDCONTINUOUSLY EVOLVING MOVING SUSTAINABLE FUTURE TOWARD A mental managementsystem. a more comprehensive environ- those programs aspartofcreating standards. In2001,webuilton regional andfederalenvironmental to ensure compliancewithlocal, are developedandimplemented environmental managementplans our facilitiesandexplainedthat system (EMS)results atafewof of environmental management Last year, wereported onexamples MANAGEMENT SYSTEM HOW DOWEIT?OURENVIRONMENTAL following components: The systemiscomposedofthe with ourvariousstakeholders. can assistusinimproving relations more efficient it andexternally nally thissystemwillmakeus businesses. We believethatinter- mented bythebusinessesfor but isadopted,tailored andimple- headed atthecorporatelevel, framework forourEMSisspear- into ouroperatingculture. The embedding corporatecitizenship practice fitswithourethosof of ourindividualbusinesses.This Citigroup istheresponsibility Environmental managementat 23 CITIGROUP 2001 ENVIRONMENT 24 CITIGROUP 2001 ENVIRONMENT AFFECTING BUSINESSTODAY. INFURTHERANCE OFTHISCOMMITMENT, ITISTHEPOLICYOFCITIGROUPTOENDEAVOR TODOTHEFOLLOWING: WE CONDUCTBUSINESS.RECOGNIZETHAT ENVIRONMENTAL IMPACT AND SUSTAINABLE DEVELOPMENTAREAMONGTHEMOSTIMPORTANT ISSUES TECTING THEENVIRONMENTANDHEALTH ANDSAFETYOFOUREMPLOYEESTHECOMMUNITIESINMORETHAN100COUNTRIESWHICH ability considerationsintothe Integration— state andregional agencies. coordinate efforts withnational, which weare responsible and environmental emergencies for Respond diligentlyto Response andCoordination— the environment. abouthealthand nity concerns priate, toemployeeandcommu- and provide responses, asappro- and thesurrounding community, the healthandsafetyofemployees responsible mannerthatprotects facilities andbusinessesina Good Neighbor— environment. protect humanhealthandthe standards andprocedures to appropriate, developcompany laws andregulations, and,where environmental, healthandsafety Compliance— Environmental Policy and InvestmentBusinesses The Citigroup Corporate INTERNAL POLICIESTHAT ADDRESSTRANSACTIONSANDCOREBUSINESS Integrate sustain- Comply withall Operate all OUR EFFORTS INCOMMUNITY, ENVIRONMENTAL ANDSOCIALINITIATIVES. WEARECOMMITTEDTOPRO- WE ARECOMMITTEDTOTAKING ALEADERSHIPROLEINTHEFINANCIALSERVICES INDUSTRY THROUGH DUCTING BUSINESSINANENVIRONMENTALLY RESPONSIBLEMANNERISANONGOINGPROCESS,AND AND THEREFOREDEALWITHAVARIETY OFENVIRONMENTAL ISSUES.WEUNDERSTAND THAT CON- THE GLOBALCORPORATE ANDINVESTMENTBANKINGBUSINESSESAT CITIGROUPAREHIGHLY DIVERSE Review Committee— Environmental and Social Policy of naturalresources. ability andminimizeconsumption operations thatpromote sustain- considerations intoourinternal porate responsible environmental Waste Reduction— and Recycling, Conservation real property. acquisition ordirect financingof issues inconnectionwiththe ate assessmentsofenvironmental Assessments— is alsogoodbusiness. sible environmental management all levelsunderstandthatrespon- company toensure employeesat sustainability throughout the environmental protection and Instill acommitmentto Organizational Commitment— social developments. strategic environmental and basis toemployeesregarding provide informationonaregular businesses worldwide,and day-to-day operationofour Perform appropri- Seek toincor- Review our structive investment. economic growth through con- and supportopportunitiesfor with financingpartners.Recognize ual valueandinconsultation should beconsidered onindivid- that eachpotentialtransaction financing. Take intoconsideration process and inunderwriting as partoftheriskassessment environmental andsocialrisks Identify, quantifyandcontrol Responsible Financing— organization. programs throughout the best practicesandofcompany understanding ofenvironmental and communities.Enhance issues instrategicclientsectors of environmental andsocialpolicy financial andmarketimplications about thepotentialeconomic, guidance tobusinessdivisions Education— activities. with ourobjectivesandbusiness ensure thattheyare consistent initiatives onanongoingbasisto environmental policiesandother Provide ongoing Chairman, CitigroupChairman, Japan OperatingGroup; Internet Cross-MarketingChairman, Chairman, Group; Vice ofCitigroup; Chairman Head,Mergers &Acquisitions; SIR DERYCK MAUGHAN continues togrow stronger. thatencompass corporatecitizenshipandsustainabledevelopment ing concerns stakeholders. clients; andpartneringwith for companybusinessunitsand tainable developmentopportunities analyzing environmental andsus- we andourclientsare involved; impact theindustriesinwhich sustainability trends thatmay legislative environmental and and and evaluatingregulatory ronmental commitment;tracking coordinating thecompany’s envi- Department isresponsible for Citigroup’s Environmental Affairs OUR ENVIRONMENTAL AFFAIRS UNIT able toexchangeideasandbestpracticesfacilitatedbytheFInetwork. create acriticalmassofNorthAmericansignatories(25by2004)thatare members representingninefinancialservicescompanies.Thegoalisto tices inNorthAmerica.Therearecurrently11taskforcesteeringcommittee The taskforce’s missionistosupportandexpandsustainablefinancialprac- host thefirstmeetingofUNEPFINorthAmericanTask Force. in 2001weincreasedourleadershipinvolvementbyhelpingtolaunchand the FinancialInstitutionsInitiative(FI)andsignatoriestoStatement, and managingenvironmentalsocialrisks.Aslong-timeparticipantsin Environment andSustainableDevelopmentasaframeworkforidentifying Programme’s (UNEP)StatementbyFinancialInstitutionsonthe Citigroup usestheprinciplesofUnitedNationsEnvironment BUSINESS: UNITEDNATIONS ENVIRONMENTPROGRAMME EXTERNAL POLICIESTHAT ADDRESSTRANSACTIONANDCORE initiatives. And our commitment to engaging in the truly challeng- initiatives. Andourcommitmenttoengaginginthetruly environmentallong-time participationininternational leadership ment andSustainableDevelopment,anactionthatspeaksto our to signUNEP’s StatementbyFinancialInstitutionsontheEnviron- “ We were oneofthefirstU.S.-basedfinancialservices companies ” expanded toengageadditional Affairs. In2001,thecommittee andEnvironmentalGovernance, Management, Legal,Corporate Corporate &InvestmentBankRisk kets Credit RiskManagement, Investment Bank,Emerging Mar- executives from theCorporate & composed ofCitigroup senior ment banks.Thecommitteeis issues forourcorporateandinvest- emerging environmental andsocial Committee’s missionistoreview mental andSocialPolicyReview Formed in2000,ourEnviron- REVIEW COMMITTEE ENVIRONMENTAL ANDSOCIALPOLICY a wideraudience. this trainingandtoreach outto In 2002,weplantocontinue bankinggroups• Internal that • Investment Bankingnew • Corporate &InvestmentBank • Emerging Marketsregional senior ties were delivered to: and financialrisksopportuni- ronmental andsocialbrand-related on ourpolicystatementandenvi- Emerging Markets.Presentations Corporate &InvestmentBankand effort foremployeesinCitigroup’s In 2001,welaunchedatraining POLICIES ANDPROCEDURES TRAINING ONENVIRONMENTAL management. by addingtwonewmembersof areas ofCitigroup initswork cover various industry sectors. cover variousindustry associates; and commitment committee; credit officers; Una EcoparkAtlanticForest,Brazil 25 CITIGROUP 2001 ENVIRONMENT 26 CITIGROUP 2001 ENVIRONMENT program. In2002,weplanto have 1,000Citigroup employeestakethecourse. program giventobankersand credit officers inemerging marketsaspartofouroverallrisktrainingeducational banks. Citigroup hassincedeveloped anewEnvironmental RiskModulethathasbeenaddedtotheoveralltraining FinanceCorporation,theEuropeanInternational BankforReconstructionandDevelopment,othermultilateral emerging marketscredit riskmanagement,attendedenvironmental riskmanagementtrainingheldinJunebythe EuropeLatin America,CentralandEastern andtheMiddleEastAfrica,aswellaseniorrepresentative from Based onourstakeholders’recommendations, ouremerging marketstrainingcenterregional executivesfrom WORKING the followingtopics: comprehensive interactivepresentationcovering points andobservations,whichleadsusintoa The examplesraisemanyinterestingdiscussion issues canbeacrossthevariousbusinesssegments. We beginbyshowinghowcommonenvironmental to enhanceawareness. and issuesraisedduringtheprogramintoamodule World Bankandadaptedthemanyimportanttopics We reviewedthematerialssharedbyIFCand to ourlendingactivitiesacrossbusinesssegments. discussed seemedofgreatimportanceandurgency Seminar, Irealizedthattheissuesandconcepts “After attendingtheIFCEnvironmentalRisk TOWARD and DevelopmentCenter Training, LatinAmericaTraining Global FinanceandCustomer Director forRiskManagement, Citigroup BusinessLearning KEN LOSO AN ECOLOGICALLY SUSTAINABLE new businessopportunitiesgoingforward.” concerns, protectingourownassetsandcreating become agloballeaderinenvironmentalissuesand efforts willhelpplaceusinanexemplarypositionto broadest populationpossible.We believethese risk-related programsin2002ordertocoverthe to includetherolloutofthisprograminallour The modulewassosuccessfulthatwehavedecided the public. ing thecompany, theindustry, themasbankersand the ecologicalissuesthatmaycomeintoplayaffect- in casestudies.Participantsareaskedtoconsider through applicationofthevariousissuesdiscussed We completetheEnvironmentalRiskModule • Bankingrisksandopportunities—environmental • Currentwisdom,complianceandenvironmental • Anappreciationofthescopeenvironmental how thatriskmaybeverticaland/orhorizontal. issues forclientsbecomethebankand strategy; issues andproblems; FUTURE • Added, forthefirsttime,envi- • Incorporated ourenvironmental • Featured articlesaboutour • Posted anenvironmental • Created anewCitigroup and about ourcommitment. and educatingouremployees Internally, wefocusedonengaging strides. In2001,wemadegreat external. and issues havebeenbothinternal communication onenvironmental Our efforts toraiseawareness and COMMUNICATIONS RAISING AWARENESS AND worldwide; and bankers conducting transactions dures Bank’s Credit PoliciesandProce- to the ronmental policyinformation uted toallemployees; 2001 edition,whichisdistrib- Statement ofBusinessPractices commitment intothe publication, opment effort inouremployee environmental/sustainable devel- the Issues”Web site; corporate “Citigroup and successful internal/external initiate thenewandvery position paperthathelped www.citigroup/community.com; the Environment Web siteat manual, whichisusedby Corporate &Investment Citigroup World Citigroup ; generation ofU.S. businessleaders. in activitiesthat educatethenext to raiseawareness andparticipate Citigroup understandstheneed Net Impact and sustainabledevelopment. engagement inglobalsustainability and ISOstandards, andpromotes on globalissuessuchasUNEPFI committee monitorsandreports national financialinstitutions.The five NorthAmerican-basedmulti- is comprisedofapproximately Global IssuesCommittee,which became activeparticipantsonEBA’s mental riskissues.In2001,we that proactively manageenviron- the needsoffinancialinstitutions tion thatwasestablishedtomeet (EBA), anon-profit tradeorganiza- ronmental BankersAssociation Citigroup isamemberoftheEnvi- Association Environmental Bankers the issues. and enhanceourknowledgeof industry the financialservices of sustainabledevelopmentin communicate andraisetheprofile groups andconferences tohelp numerous working industry Externally, weparticipatedin • Included environmental policy intranet sitehomepage. Market’s RiskManagement information ontheEmerging contributors to theUNEPFI In addition,webecameactive expo event. ence andrecruited atthe business- executives presented atthe confer- as employeeparticipation.Our included financialsupportaswell Carolina, ChapelHill.This held attheUniversityofNorth annual NetImpactconference In 2001,wesupportedthe their network. professional goals,whilebuilding ship skillsandpursuetheir ness education,refine theirleader- help membersbroaden theirbusi- offers aportfolioofprograms to central office and50localchapters, over 5,000membersthrough its in 1993,thisorganization, with Students forResponsibleBusiness world. Originallyfoundedas power ofbusinesstocreate abetter students committedtousingthe Net ImpactisanetworkofMBA Tambopata, Peru 27 CITIGROUP 2001 ENVIRONMENT 28 CITIGROUP 2001 ENVIRONMENT strategy. Risksandresulting returns grated withourbusinessplan and management atCitigroup isinte- risk managementsystem.Risk uisites fordevelopinganeffective in transactionsare essentialprereq- control therisksthatare inherent an abilitytoidentify, assessand Knowledge ofthemajorrisksand AND SOCIALISSUES THAT FOCUSONENVIRONMENTAL RISK MANAGEMENTPROCEDURES New York. the BuyRecycledAllianceof for SocialResponsibilityand and ourparticipationinBusiness Group,Literacy CouncilAdvisory Council,theEnvironmentalsory Corporate andProfessional Advi- School forEnvironmental Studies’ Force, theNewYork CityHigh rate SocialResponsibilityTask ment Center’s Corpo- International our workontheWorld Environ- Development. We alsocontinued Working Group onSustainable American FinanceExperts In addition,wejoinedtheLatin of corporatesustainabilityreports. roundtable eventonthevalue on SustainableDevelopment’s the World BusinessCouncil management andreporting; and working group onenvironmental property, manyofCitigroup’s U.S. With regard tolendingonreal mental factors. to includesocialaswellenviron- 2002 istorevise thequestionnaire ual businesses’needs.Ourgoalfor ally revised andtailored toindivid- “living document”asitiscontinu- groups.industry We considerita rently beingusedbyavarietyof bankers. Thequestionnaire iscur- naire forcredit riskmanagersand mental riskmanagementquestion- In 2001,wecreated anewenviron- business thatisaccountable. are ownedandmanagedbya tion approximately10percent. locations, thermostatshavebeenadjustedtoreduceenergy consump- New York CityandLongIslandhavebeencompletedtodate. Inother weekends inthe NYmetroarea. practice, 4,000 computerswereshutoffduring off-hourperiodsand energy conservationlettersand nightlyinspections.Asaresultofthis NRYEFFICIENCYINITIATIVES ANDRESULTS ENERGY consumption forlighting. lamps andfixturesresultingin30–40percentreducedenergy a programtoreplacelightingfixtureswithhigh-efficiency Energy ConsumptionReductionThroughRetrofitting— ing onbuildingfactors.Approximately60FinancialCenters in ing inenergyreductionsfrom20percentto50depend- Automation Systemsarebeinginstalledinmajorbranches result- Energy ConsumptionReductionThroughBuildingSystems— desktop computersandother business equipmentbydistributing Created aprogramtoencourage buildingoccupantstoshutoff Energy ConsumptionReduction Through EmployeeEducation— technologies areinstalledtoimproveenergyefficiency. In newandexistingmajorbuildings,thelatestenergy-efficient Energy ConsumptionReductionThroughNewTechnology— overall financialrisk. prior totheloan,evaluate that weorourclientscommission, diligence reviews ofassessments ronmental specialistsconductdue where necessary. Citigroup envi- ments andcorrective activities of theloan,environmental assess- businesses require, asacondition ronment andthebottomline. ciency efforts thatbenefittheenvi- effi-initiated avarietyofinternal businesses around theworldhave As partofourEMS,Citigroup INTERNAL EFFICIENCIES Our NewHeadquartersinLondon Initiated Building consumption in2001. a 12percent decrease inenergy effortsU.S., conservation produced nal useofnaturalresources. Inthe vices isworkingonreducing inter- Citigroup CorporateBuildingSer- Energy Efficiency Energy Consumption in CITIGROUP LATIN AMERICA BUSINESSES AROUND their branches.Paperthatwould and ConsumerBanksall extend toboththeCorporate Our recycling efforts inPeru in Need Environment andAssistChildren Recycling inPeruHelpsPreserve facilities. amount ofenergy usedbyour to bettermanageandreduce the Awareness andTracking Program and ColombiainitiatedanEnergy Bolivia, Peru,Venezuela, Paraguay Argentina, Uruguay, Mexico, locations inChile,Panama,Brazil, In 2001,Citibank’s LatinAmerica in LatinAmerica Citibank EnergyEfficiency in theU.S.andLatinAmerica. line forbenchmarkingpurposes 2002 focuswillbetocreate abase- Latin Americaandelsewhere, our energy deregulation intheU.S., growth, newacquisitionsand As aresult ofthecorporation’s and throughout Citigroup. are beinginstitutedinNewYork improve efficiencies, themeasures To continuetoachieveand THE WORLD employees. a more pleasantatmosphere for thus savingenergy andproviding exclusively onartificiallighting, doing so,weavoidtheneedtorely use ismadeofnaturallight.By Wharf inLondonwhere significant European headquarterstoCanary building practices.We movedour nity toimplementsustainable operations andseizedtheopportu- In 2001,Citigroup relocated many Citigroup BuildingsinEurope are donated. bought for$215andtheproceeds tonofpaperis birth defect.Every need whorequire surgery duetoa non-profit whichhelpschildren in fundraiser forOperationSmile,a asa This initiativealsoserves these efforts in2002. expectations. We plantocontinue has more thansurpassedour cling company. Oursuccesssofar then separatedandsoldtoarecy- bring infrom home.Thepaper is that employeesare encouragedto lected, alongwithsimilaritems normally bethrown awayiscol- 29 CITIGROUP 2001 ENVIRONMENT 30 CITIGROUP 2001 ENVIRONMENT 14 countries. of 54certificationsinAsiaacross additional certifications,foratotal tinued andweobtained17 ment inqualitymanagementcon- tradition ofcontinuousimprove- tions. In2001,ourAsia-PacificISO achieved 37overallISOcertifica- Asia-Pacific operationshad Last yearwereported thatour ISO CertificationinAsia-Pacific ening agents. pulp andfree from opticalbright- 100 percent chlorine-free bleached and sawmilloffcuts. Itisalso paper madeofforest thinnings are effectively usingrecycled copy offices inLondonandFrankfurt In addition,ourlargest European used toirrigateplantedareas. storage ofrainwaterincisterns innovative technologies,suchas location thatmakesuseofseveral AG isnowmovingtoanewleased In Frankfurt,SalomonBrothers 17 ADDITIONALISOCERTIFICATIONS IN 2001, REPRESENTING A46PERCENTINCREASE CITIBANK ASIA-PACIFIC ACHIEVED IN SITESCERTIFIED SINCE2000 Unit inSingapore. Regional CashProcess Management ISO14000 certificationinour dards, weachievedyetanother body. Inadditiontothenewstan- certification local government have setabenchmarkwiththe in Singapore toachievethisand are thefirstfinancialinstitution standards. Wenew ISO9001-2000 to recertify current sitesunderthe the meticulousconversionprocess picked upnewsitesbutundertook product. notonly OurISOjourney deliver aconsistentlyhigh-quality satisfaction andproductivity aswe means weusetoincrease customer ISO certificationsare oneofthe nationally, webelievethat ment. Bothdomesticallyandinter- that promote sustainabledevelop- ships withkeynon-profit groups Citigroup seekstobuildrelation- PARTNERSHIPS DEVELOPMENT PUBLIC-PRIVATE ENVIRONMENTAL ANDSUSTAINABLE agricultural systems. of naturalareas andtraditional in Oaxaca,through protection the preservationofbiodiversity mission oftheFundistosupport Preservation ofNature. The to create theOaxacaFundfor Ethnobotanical HistoricGarden World Wildlife Fundandthe cion delaNaturaleza,A.C.,The Fondo MexicanoparaConserva- Ecology InstituteofOaxaca,the ment andNaturalResources; the oftheEnviron-Mexican Ministry ships includeaninitiativewiththe efforts. Examplesofthesepartner- natural resources andconservation promoting thesustainableuse of of indigenouscommunitieswhile ico thatworktoimprove thelives development partnershipsinMex- supports anumberofregional Fomento SocialBanamex,A.C. Fomento SocialBanamex,A.C. ing asustainablefuture. of thecrucialmechanismsinbuild- public-private partnershipsare one financial andin-kindefforts. mission bystrengthening our we increased ourdedicationtoits CI’s worksince1996,andin2001, Hotspots. Citigroup hassupported ecosystems—the Biodiversity richest andmostendangered theplanet’stions forconserving economics andpolicytocraftsolu- uses innovativemethodsinscience, (CI) International Conservation International Conservation Citigroup CountryCorporateOfficer China RICHARD STANLEY Institute, thatwillfurtherthisobjective. market-oriented enterprises,suchasthoseorganized bytheWorld Resources Director andPortfolioManager, Citigroup AssetManagement LINDA DESCANO quality of service we can deliver to our clients—and that is key to our long-term success. quality ofservicewecandeliver toourclients—andthatiskeylong-term credit andinvestmentanalyses.The bottomlineistherefore quitesimple:the‘smarter’weare, thehigher environmental trends are reshaping thebusinessenvironment—and tousethatunderstandingrefine our ness, whichaffords Citigroup theuniqueopportunitytobetterunderstandhowpublicandprivateresponses to “ and itisintheinterest ofthebusinesscommunitytosupport private sectorwillplayanincreasingly importantrole inthisarea their economyastheyentertheWorld Trade Organization. The ment isnecessarytosustainhighgrowth andcompetitivenessin “ I’m pleasedtoserveasanadvisorycommitteememberofThe Center forEnvironmental Leadership inBusi- The ChineseLeadershiphasrecognized thatacleanerenviron- ” have expandedourcommitment Based onthesuccessinBrazil,we Bahia. in Southern program insupportofactivities Citigroup Brazilcreated avolunteer In addition,CI-Braziland within theAtlanticForest Region. mentally friendlysmallbusinesses opment andsupportofenviron- critical fundstopromote thedevel- In Brazil,Citigroup isproviding and workswithitsSustainable with anumberofWRIprograms generations. Citigroup isinvolved environment forcurrent and future live inwaysthatprotect Earth’s mission tomovehumansociety lives. Citigroup supportsWRI’s the planetandimprove people’s create practicalwaystoprotect (WRI) goesbeyondresearch to The World Resources Institute World Resources Institute critical environmental problems. worldwide increating solutionsto Center engagestheprivatesector Business, anewdivisionofCI.The for Environmental Leadership in committeeofTheCenter advisory onthe tional commitmenttoserve pledge toCIincludesaninstitu- Furthermore, ourpartnership protected areas inPeru. tives tocommunitiesneighboring to offer viableeconomicalterna- to includesupportofCI’s efforts ” 31 CITIGROUP 2001 ENVIRONMENT 32 CITIGROUP 2001 ENVIRONMENT Vice President, Emerging MarketsCredit RiskManagement CORINNE BEREZUK sense ofsocialandenvironmental stewardship. progress. We haveinstitutedpolicies,processes andtrainingatCitigroup todevelopa providing seedcapitalforNew for WRIandNewVentures by 2001, weexpandedourfunding program inAsia,ChinaBELL, in ronment LeadershipandLearning support forWRI’s BusinessEnvi- tures inLatinAmericaandour Based onthesuccessofNewVen- social andenvironmental benefits. opportunities thatincorporate venture capitaltoinvestment ation byacceleratingthetransferof endorses sustainableenterprisecre- Ventures inLatinAmerica,which been activesupportersofWRINew For thepasttwoyears,wehave and developmentchallenges. itable solutionstoenvironment Enterprise Program tocreate prof- business leaderswhoare abletobalancebusinesssuccesswithsocial andNGOs,toincreasework, alongwithgovernments thesupplyof Globalcorporationsmustworkwithinthecurrentlong term. frame- findings thatstewardship issuesare keytobusinessviabilityoverthe “ We atCitigroup appreciate theBeyond Grey Pinstripessurvey’s 2001 asourfirstWildlife atWork Florence, Kentucky, waschosenin The Creditsite,locatedin Services rate landsforfuture generations. enhance wildlifehabitatoncorpo- with companiestoincrease and a corporatemember. WHCworks Wildlife HabitatCouncil(WHC)as In 2000,Citigroup joinedthe Wildlife HabitatCouncil technology. renewable energy andclean organic foodsandagriculture, prise creation intheareas of and mid-sizedsustainableenter- the project seekstoacceleratesmall Indonesia andthePhilippines, starting inChina,followedby Ventures Asia-Pacific.Specifically, ” SM located. in SiouxFalls,SouthDakota,is Plains where theCitiCards facility graphical area—the gatewaytothe second habitatinadifferent geo- In 2002,weintendtodevelopa shoreline vegetation. perches andplantingwetland and nest boxes,tree islandsandraptor food forspeciesbyconstructing hard atworkproviding shelterand location. Employeevolunteersare CITI CARDS LOCATED discussion. and participatedintheroundtable served asjudgesforthefacultyawards of thesurveyreport,Citigroupexecutives award ceremonyandannouncement hosting thefacultyandbusinessschool its inceptionandthisyear, alongwith We havesupportedtheprogramsince social impactissuesintoMBAprograms. ing theincorporationofenvironmentand was thethirdinaseriesofsurveystrack- Social andEnvironmentalStewardship,” Pinstripes 2001—“PreparingMBAsfor (Aspen ISIB)andWRI,BeyondGrey for SocialInnovationThroughBusiness A jointprojectoftheAspenInstitute BEYOND GREYPINSTRIPES2001 IN CREDIT FLORENCE, SERVICES KENTUCKY SITE around theworld. expanded toourothersubsidiaries the U.S.,thisprogram willbe Corporate &InvestmentBankin using recycled copypaperatthe that afterasuccessfultrialperiod paper intheU.S.We anticipate on procurement ofrecycled copy project withtheAlliancewillfocus Corporate &InvestmentBank’s requirements forthecompany. The largest remaining papervolume clients. Copypaperisoneofthe announcements toemployeesand disseminate informationand utilizing corporateWeb sitesto reduced itsuseofpaperby Citigroup hasalready significantly best practices. in theirindustriestodefinenew private companiesthatare leaders Charitable Trust, andworkswith ronmental DefenseandthePew of thenon-profit organization Envi- tion. TheAllianceisajointventure Alliance forEnvironmental Innova- Bank forged apartnershipwith the the CorporateandInvestment In 2001,Citigroup Purchasing for Innovation Alliance forEnvironmental able LongIsland,amongothers. Nature Conservancy, andSustain- Council, World Wildlife Fund,the the NaturalResources Defense forged newpartnershipswith relationships, in2001wealso In additiontothesepublic-private within thestate.Thenewprogram wastewater treatment funding Florida toacceleratesubsidized a newprogram forthestateof designed, structured andfinanced treatment needs.Forexample,SSB funds, tofurthersubsidizewater programs, calledstaterevolving assists statestodevelopspecialized U.S. Aspartofthiseffort, SSB pollution control facilitiesinthe for watertreatment andwastewater $10 billionintax-exemptfunding In 2001,SSBprovided over municipal debt. nation’s of leadingunderwriter Department activities.SSBisthe component ofSSB’s Public Finance public agenciesare animportant sponsored bymunicipalitiesor Environmental improvements Public Finance BUSINESSES MAKINGADIFFERENCE collection efforts. and householdhazardous waste continued fundingforrecycling munity disposalcostsallowing Refinancinglowerscom- service. for thisessentialenvironmental and reducing communitycosts substantial interest ratesavings waste disposalprojects, capturing $750 millionofdebtforsolid alone, werefinanced almost projects onWall Street. In2001 ofsolidwastedisposal underwriter SSB isbyfarthemostexperienced expected in2002. action toexpandthefacilityis nia’s ChinoBasin.Arelated trans- cities andwaterutilitiesinCalifor- drinking wateravailabletoseveral from groundwater andmakesclean and agriculturalcontamination nation facilitythatremoves natural SSB financeda$56milliondesali- next year. increase fundingby75percent this yearandisexpectedto 50 percent overcurrent levels for wastewatertreatment by increased annualfunding 33 CITIGROUP 2001 ENVIRONMENT 34 CITIGROUP 2001 ENVIRONMENT Company (Bapco)foraproject to advisor totheBahrainPetroleum 2001, Citigroup actedasfinancial Eco-friendly FuelinBahrain:In emerging markets. oped economiesaswellinthe opment ofinfrastructure indevel- financing fortheresponsible devel- Project Financearrangesproject Trade Finance Project andStructured environmental issues. financial serviceindustry’s effortsinaddressing on Citigroup’s globalpositiontoparticipateinthe opment priorityforthegovernment—whichbuilds to environmentalissuesinMorocco—akeydevel- Moreover, thisassociationhelpslinkourbrand without anextensivein-countrybranchnetwork. tic positioninprovidingcross-countrysolutions Citibank Morocco’s strategytoincreaseitsdomes- the last18months.Thisisanimportantstepin Morocco hasprovidedexclusiveon-siteservicesin This isthethirdUNconferenceforwhichCitibank countries aroundtheworldattendedUNFCCC. 3,000 delegatesrepresentingapproximately171 Marrakech fromOctober29toNovember9.Over Change (follow-uptotheKyotoAccords),heldin sive bankattheUNConferenceonClimate tic bankstowinthemandateforbeingexclu- CITIGROUP BUSINESSESINAFRICAANDTHEMIDDLEEAST international anddomes- competition fromother competed againststiff Citibank Morocco the KyotoAccords Citibank Morocco— sludge intotheenvironment. posal ofthegeneratedleadsulfide the discharge ofleadandthedis- and potentialhealthrisksrelated to will eliminatetheenvironmental duction ofeco-friendlyfuelthat A uniqueaspectofBapcoisitspro- $29.5 millionkerosene merox unit. thatincludesa Sitra refinery theaging upgrade andmodernize Export-Import BankoftheU.S.,closedin2001. der, includingaportionfinancedunderthe ing closedin2000($22million)withtheremain- congealed intoatoxiclandfill.Partofthefinanc- transformation ofawartimerefusedump,later Mediterranean coastline.Cleanupinvolvesthe an 18hectareareaatsealevelborderingthe $45 millionforanenvironmentalcleanupcovering cultural facilitiesandrestaurants.Financingtotals building ofagrandpublicpark,recreationalareas, trict (BCD).Theareawillbeenhancedwiththe environmental cleanupintheBeirutCentralDis- Citibank Lebanonhasarrangedfinancingforan BEFORE AFTER plant thatuseslignitefuelfrom and theconstructionofapower (unclean energy) powerplants demolition oftwooldmazut-fired technology byproviding forthe ing unitthatwillutilizeclean a new464MWelectricitygenerat- (PAK). Itcallsforconstructionof Central PolandcalledPatnowII acted asleadarrangerforadealin Clean PowerinPoland:Citigroup accessibility. use andwatercleanup works, sustainableland tion, publicrestoration measures, parkrejuvena- distribution—anti-pollution reconstruction opportuni- civil warhasprovided Lebanon’s emergencefrom Helping Rebuild Citibank Lebanon— management/resource improving environmental ties. Manyoftheseinvolve We are involvedintheRioChillon Potable DrinkingWater inLima: ble andcost-efficient energy. provide along-termsource ofsta- significantly reduce emissionsand and thetransactionisexpectedto Reconstruction andDevelopment ing involvestheEuropean Bankfor petitive energy market.Thefinanc- andtocreatethe industry acom- ment succeedinitsgoaltoreform this project, wehelpthegovern- thousand people.Bysupporting station, whichemploysseveral dependent onthemineandpower local mines.Thearea istotally card partners. programs thatprovidefinancialroyaltiestonon-profitaffinity ’s consumerfranchisehasnumerousaffinitycard Affinity CardsatCitibankIndia: AFFINITY CARDSININDIA World Wide Fundfor a iosAscain$16,666 War Widows Association Armed Forces $47,380 $34,000 of Women’s World Banking Resource CenterandFriends for Promotion ofArea Women’s Card forSociety Nature India hl eifadYu$21,000 Child ReliefandYou providing alarger andcleaner social andeconomicbenefits by The project willcreate enormous conditions. in sub-optimalsanitary their dailyneeds,mostofthetime so thatpeoplemuststore waterfor place twoorthree timesperweek, areas ofthecity. Deliveries take as three timestherateasinother mediaries whosellitforasmuch public mustbuywaterfrom inter- running water. Currently, the million peoplecurrently haveno city ofLima,where nearlytwo partofthe water tothenorthern project toprovide drinkablequality Institutional Investor Partnerships; andDealoftheYear, National CouncilofPublic/Private Distinguished InnovativeProject, including, amongothers: awards andgovernment industry has beenhonored withmajor tion andemissions.Theproject ments, thusalsoreducing conges- attempt tospread outtraffic move- during peakusageperiodsinan whereby highertollsare paid application ofcongestionpricing, pay tolls.Itisalsotheworld’s first and emissionsfrom stoppingto tolls, whichreduces congestion electronic transponderstocollect identification utilityoperatedby 100 percent automaticvehicle Route 91-toll.Itistheworld’s first Transportation Company’s State Private refinancing intheCalifornia ager andbookrunneronthedebt Citigroup actedassoleleadman- Innovative RoadwaysinCalifornia: for theproject. currently thearrangeroffinancing prior tothebidaward andis financial advisortotheconsortium rently beingpaid.Citibankactedas tion atafractionofthepricecur- supply ofwatertoalarge popula- magazine. 35 CITIGROUP 2001 ENVIRONMENT 36 CITIGROUP 2001 WORKPLACE WORKPLACE many placesaroundtheworld. Citigroup theemployerofchoicein work together. Thisiswhatmakes are respectedandencouragedto regardless oftheirbackgrounds— where allofouremployees— Citigroup fostersanenvironment DIVERSITY COMPETITIVE AND INDONESIA,THEISSUEOFAWELCOMINGENVIRONMENTFORNON-MUSLIMSISIMPORTANT TOOURBUSINESSES. BEFORE THEENDOFAPARTHEID, CITIBANKINSOUTHAFRICAWAS APLACEWHEREBLACKSOUTHAFRICANSWEREWELCOMED.INPLACESLIKETURK AGED TOWORKTOGETHER.THISISWHAT MAKESCITIGROUPTHEEMPLOYEROFCHOICEINMANYPLACESAROUND THEWORLD.ASANEXAMPLE, CITIGROUP FOSTERSANENVIRONMENTWHEREALLOFOUREMPLOYEES—REGARDLESSTHEIRBACKGROUNDS—ARERESPECTEDANDENCOUR- National SocietyofHispanicMBAs, Association ofBlackMBAs,the in theU.S.,suchasNational nerships withleadingorganizations top talent,wehavebuiltsolidpart- diversity initiatives.To attractthe responsible forimplementingour tandem withthebusinesses,is Corporate Diversity, workingin our customers.Ouroffice ofGlobal sentative oftherichdiversity building aworkforce thatisrepre- At Citigroup, weare committedto A DIVERSEWORKFORCE Senior Vice President ofGlobalCorporateAffairs and HumanResources forCitigroup MICHAEL SCHLEIN betweenworkandfamily.a healthybalanceisstruck to work,where theyare givenopportunitiestodevelop,andwhere “ We aspire tobeknownasacompanywhere thebestpeoplewant BUSINESS EDGE IN THEWORKPLACEEQUALSA Club, haverecently launched including CitiCards andDiners egy. Severalofourbusinesses, component ofourdiversitystrat- Career developmentisanintegral than 1,500attendees. Wall Street Project attractsmore Now initsfifthyear, theannual leaders inthefinancialindustry. versity studentswithaccesstokey professionals, andcollege uni- Project, whichprovides minority of theRainbow/PUSH’s Wall Street Citigroup isafoundingsponsor MBA studentsatmajoruniversities. reach efforts tolesbianandgay dents, alongwithlaunchingout- attract womenandminoritystu- strengthen itscampusefforts to Citigroup alsocontinuesto program.internship national undergraduate minority in Management,andINROADS,a the ConsortiumforGraduateStudy ” Primerica unit. members ofthecompany’s development forAfricanAmerican a workshopfocusingonbusiness Leadership Councilsponsored Citigroup’s AfricanAmerican by CitibankAustralia.IntheU.S., similar program wassponsored launch thediversitystrategy. A across Citigroup’s businessesto Women’s Summitforwomenfrom Citibank Japanalsohelda opportunities ofLatinaemployees. on thecareer challengesand America ConsumerBankfocusing participants washeldbyourLatin a DiversitySummitforover200 quent globalinitiatives.In2001, 2000 hasbeenacatalystforsubse- Global Women’s Summit heldin selves andtheorganization. The skills andknowledgeaboutthem- leaders toassistthemingaining senior leaderstoworkwithjunior mentoring programs toenableour in 1977,isactivelyinvolved in Program, whichwaslaunched Citigroup’s U.S.SupplierDiversity TO $400MILLION INCREASES FROM$190MILLION SUPPLIER DIVERSITYPROGRAM EY 37 CITIGROUP 2001 WORKPLACE 38 CITIGROUP 2001 WORKPLACE Director ofGlobalDiversityforCitigroup ANA DUARTE-MCCARTHY physically challenged,aswell veteransandthe service-disabled owned byminorities,women, identifying andusingbusinesses opportunity thatdiversityprovides inourbusinessstrategies. force thatisrepresentative ofourcustomerbase and recognize the to betheemployerofchoice.We are committedtobuildingawork- uniquely positionedthrough itsglobalreach andarray ofbusinesses “ Through ourpresence inmore than100countries,Citigroup is reporting processes. and implementingtracking developing asupplierdatabase its requirements, alongwith suppliers abouttheprogram and to educatepotentialminority We launchedapublicWeb site major contractsare renegotiated. subcontractors beincludedwhen ity andwomensuppliers with allmajorvendorsthatminor- We alsoinitiatedtherequirement in 2000to$400million2001. firms, increasing from $190million women- andminority-owned of businessweconductedwith We more thandoubledtheamount Citigroupinclude every business. Supplier DiversityProgram to In 2001,weexpandedour seminars andmentoring. businesses through educational increasing opportunitiesforthese size-fits-all approach tohelping Citigroup doesnottakeaone- EMPLOYEES STRIKEABALANCE WORK/LIFE PROGRAMSHELP ” tions served byJustInTimetions served Care Jersey; more than300workloca- centers inNewYork andNew include: three on-siteback-upcare tion intheworld.Ourprograms employees thananyothercorpora- backup care availabletomore are unavailable.Citigroup makes their regular care arrangements programs toassistemployeeswhen Citigroup hasback-upchildcare provide full-timecare assistance. national childcare centersthat discounts whentheyuseleading daily. Employeesalsocanreceive moreserve than1,700children South Dakota.Thesefivecenters Missouri,Nevadaand Maryland, centers are locatedinFlorida, in theU.S.On-sitefull-timecare programs availabletoemployees Citigroup hasavarietyofchildcare Childcare Programs atCitigroup fessional andpersonallives. employees excelbothintheirpro- vide programs thatwillhelp ultimate goalistodesignandpro- locations havedifferent needs.Our Different businessesanddifferent employees withwork/lifeissues. ally. Citigroup’s on-siteback-upcare or schoolholidayprograms nation- employees covered byback-up care in 12states;andmore than 65,000 ® Just InTime Care home orworklocationsthrough dized backupchildcare neartheir nesses canalsogetcompanysubsi- Employees inparticipatingbusi- co-payment. locations foraminimalperdiem centers assistemployeesatwork BACK-UP space atCiticorpCenterTokyo units alsobegannegotiatingfor care informationalseminars. The Japan implementeditsfirstelder and CitiAssetManagementin As aresult ofthesurvey, Citibank support andflexibleworkoptions. childcare facilities,future eldercare abouttheavailabilityof concerned 70 percent withemployeesmost Theresponse ratewasahigh cerns. on childcare andeldercare con- vey amongtheir2,320employees Consulting, Inc.toconductasur- Asset ManagementenlistedWFD In 2001,CitibankJapanandCiti Employees andTakes Action Citigroup JapanSurveys snow days. demand onschoolholidaysand programs thatmeetthehigher ment childcare withspecialon-site number ofbusinessesalsosupple- ees withchildcare providers. A referral thatlinksemploy- service CHILDCARE ® , aresearch and CENTER AT visits. Theleadingreasons foruse with anadditional9,000Web site program wasused23,000times, interactive features. In2001,this receive customnewslettersanduse participate inonlinediscussions, bers canalsoaccessaWeb siteto Employees andtheirfamilymem- and workissues. adoption, education,olderadults topics, suchasparenting/childcare, resources onawidevarietyof referrals, andresearch and tions andinformation,customized clock. Itprovides practicalsolu- number orviathewebaround the through atoll-free telephone Rico, theprogram isavailable in theU.S.,CanadaandPuerto their partnersanddependents life.Opentoemployees, everyday better managethedemandsof employees andtheirdependents is auniqueresource tohelp Citigroup’s LifeWorks at Citigroup The LifeWorks hours initiatives. ment itsexistingflexiblework a newteleworkpolicytosupple- addition, thebusinessesintroduced back-up childcare facilities.In and otherCitilocationstoopen CITIGROUP ® IN Program E YORKCITY NEW ® program assertiveness inventory. depression screening andan tive programs likeaconfidential agement, andtakepartininterac- to mentalhealthandstress man- information andresources related access theEAPWeb sitetoobtain their familymemberscanalso financial problems. Employeesand issues, work-related problems or chemical dependency, relationship work issues,includingalcoholor wide rangeofpersonal,familyand to qualifiedlocalproviders on a tial counseling,aswellreferrals number. Callersreceive confiden- clock viaatoll-free telephone the EAPisavailablearound the staff around theworld.Accessto Canada, alongwithexpatriate bers intheU.S.,PuertoRicoand and theirimmediatefamilymem- and productivity ofitsemployees maximize thehealth,well-being tohelp and consultingservices Program (EAP)provides programs Citigroup’s EmployeeAssistance Program atCitigroup The EmployeeAssistance and eldercare. relatingwere tochildcare concerns programs availabletoemployees Citigroup hasavarietyofmedical MEDICAL FACILITIES AT CITIGROUP 39 CITIGROUP 2001 WORKPLACE 40 CITIGROUP 2001 WORKPLACE FITNESS the needsofworkingmothershas these demographics,supporting percent willhavechildren. With of 45.Statistically, atleast40 the workforce are underthe age resides, themajorityofwomenin In mostlocationswhere Citigroup injections andelectrocardiograms. bloodtests,allergycian, laboratory directed byanemployee’s physi- ness travel;flushots;and,as programs; immunizationsforbusi- and partners;periodicscreening expatriate staff andtheirspouses periodicmedicalexamsfor injury; and/or referral forillnessand treatment, recommendations vices offered include:assessment, lasting lessthan30minutes.Ser- day withtheaveragevisittypically toworkthesame able toreturn year and85percent ofthemwere employees usedthesesiteslast and Dublin.More than60,000 and Jacksonville,FL;London are locatedinNewYork, Tampa globally. On-sitemedicalfacilities AND EXERCISE PROGRAMS and adedicatedtelephonenumber. ate medicalspecialistsworldwide examinations, referrals toappropri- assignment andannualphysical assure safeandhealthytravel,pre- timely adviceandresources tohelp immunization program thatoffers includeaglobal travelers. Services business triates andinternational ical accessandassistanceforexpa- around-the-clock, worldwidemed- SOStoprovideage International Japan. We partnerwithandman- dom, Ireland, Spain,Greece and Jersey, Florida,theUnitedKing- with facilitiesinNewYork, New medical resources foritsemployees Citigroup alsoprovides orarranges nationally inDublinandLondon. and NewYork, aswellinter- Connecticut, Florida,Maryland domestic locationsincluding facilities availableatseveralofits mothers, Citigroup haslactation line. Insupportofworking reala very impactonourbottom AT CITIGROUP IN TAMPA, FLORIDA on business. were travelingawayfrom home alerts toouremployeeswho more than12,000e-mailmedical year. SOSalsohelpedusdeliver countries usedSOS’s last services Our businessesinmore than40 enrolled asmembers. 32 percent ofeligibleemployees employees dailywithmore than Wellness over3,000 Centers serve Dakota andTexas. Twenty-one New Mexico,York, South Missouri,Nevada, Maryland, Florida, Indiana,Iowa,Kentucky, U.S. locationsinConnecticut, Dublin andSydney, aswell Centers are locatedinLondon, enrollment. On-siteWellness andmember back onsurveys as evidencedbypositivefeed- popularwithemployees very initiatives. Theseprograms are Citigroup’s healthandwellness are anintegralcomponentof Fitness andexercise programs WELLNESS CENTERS (a division of Salomon Smith Barney Inc.),CitibankGlobalAssetManagement (aunitofCitibank,N.A.)and affiliated (a divisionofSalomon SmithBarney advisory Citigroup AssetManagement’s are investmentservices provided bySalomonBrothers AssetMana AssetManagementInc,SmithBarney sectors faceadifferent setofissues, ment analysis.Becausedifferent tural considerationsintoitsinvest- integration offundamentalandcul- Awareness’ disciplineisitsunique ual investors.AhallmarkofSocial 2001) forinstitutionalandindivid- mutual funds,asofSeptember30, under management(including approximately $2billioninassets ment’s PrivatePortfolioGroup, has a unitofCitigroup AssetManage- Social Awareness Investment, SOCIAL AWARENESS INVESTMENT Private BankingGroup; &CEO,Citigroup Chairman AssetManagement &CEO,GlobalInvestmentManagementand Chairman THOMAS W. JONES zenship andinvolvementincommunitiesaround theworld. that alsomakeadifference anddemonstrateourcommitmentstocorporateciti- example ofourdedicationtobusinessinitiativesthatrespond toclients’needsand mental andsocialconsiderationsintoitsinvestmentanalysis.Thisportfolioisan MAKING A INVESTMENT hallmark ofSocialAwareness’ disciplineisitsintegrationoffunda- Awareness InvestmentFund,whichwasestablishedin1987.A and otherissues.We are pleasedtobeableoffer themourSocial relatingconcerns totheenvironment, theworkplace,humanrights “ A growing numberofourclientsseekinvestmentsthatreflect their DIFFERENCE OPPORTUNITIES Working Group. UNEP FIAssetManagement SRI intheRockies,and through participationinBSR, citizenship andsocialinvesting dialogue relating tocorporate Social Awareness isactivein company’s operatingarena. and trends mostrelevant toa those particularsocioculturalissues Awareness selectivelyemphasizes ments inwhichtheyoperate,Social businessenviron-given thevarying ” institutions theywishtosupport. mendations tothephilanthropic and reviews donors’grantrecom- AssetManagement, Smith Barney Trust housesthefundsmanagedby Charitable Salomon SmithBarney 501(c)(3) publiccharity. The ble Trust, Inc.,anindependent Charita- the SalomonSmithBarney The fundisadministered through end charitablegivingseason. Consultants intimefortheyear- our more than12,700Financial the fundwasoffered toclientsof Introduced inDecember2001, charitable organizations. philanthropic grantsto net-worth clientstomakefuture Investment Fundenableshigh- Charitable Our SmithBarney INVESTMENT FUND SMITH BARNEYCHARITABLE entities. gement 41 CITIGROUP 2001 INVESTMENTS 42 CITIGROUP 2001 9/11 EFFORTS Providing ReliefatGroundZero Creating aChainofHope due totheevents. employees whoexperienced loss offer assistancetohundreds of who losttheirlives,aswell and colleaguesofemployees comfort thefamilies,friends Citigroup effort madeevery to THEIR LIVES. EFFORTS FOLLOWINGTHEEVENTSOFSEPTEMBER11.UNFORTUNATELY, SIXEMPLOYEESLOST CITIGROUP’S EMPLOYEESANDCLIENTSENTHUSIASTICALLY LENTTHEIRSUPPORT TORELIEF SEPTEMBER 11,2001 A DAY WEWILLALWAYS REMEMBER– of September11,ouremployees Immediately followingtheevents have accesstoacomputer. set upforemployeeswhodidnot counseling. Atoll-free numberwas ability ofindividualandgroup grief and transportation,theavail- regarding thestatusofbuildings along withcontinuousupdates Webinternal siteforemployees, executives, were postedonour CEO, andourseniorcorporate ment from ourChairmanand Letters ofsupportandencourage- Citigroup sites. offices were destroyed toother to relocate employeeswhose effortstates. Every alsowasmade Citigroup at60locationsin12 group griefcounselingoffered by employees soughtindividualor nationwide. Approximately 6,000 grief counselingsessionsoffered EAP andattendoneofthemany oftheCitigroup’sthe services families were encouragedtouse collapsed. Employeesandtheir Trade Center, before thebuildings Twin Towers andSevenWorld in lowerManhattan,includingthe safely evacuatedfrom fivebuildings More than15,000employeeswere anticipated needforbloodalso led for therelief workers.An Army, employeescollectedclothing working withtheirlocalSalvation supplies. InHagerstown,MD, bought socks,teeshirtsandother store, NewYork Cityemployees the helpofalocalsportinggoods clothing.Withneeded clean,dry relief workerscontinuously Along withfoodandwater, 7,600 bottlesofwatertothesites. non-perishable fooditemsand collected andsent258boxesof headquarters inHartford, CT example, employeesatTravelers immediately withassistance.For Washington, D.C.,alsoresponded the affected sitesinNewYork and Employees locatedmilesawayfrom coverage for25days. teered, providing around-the-clock more than550employeesvolun- At our111Wall Street location, comfort facilitiestorelief workers. provide refreshments, suppliesand were dispatchedtotheseCenters relief centers.Employeevolunteers were quicklytransformedinto cial Centersnearthedisasterarea relief efforts. OurNewYork Finan- quickly mobilizedtosupportthe known astheCAT Vans, intolower contained Catastrophe Vans, hardship. Travelers moveditsself- obligations intheirtimeoflossand so theycouldmeettheirfinancial D.C. areas impactedbytheevents New York CityandWashington, and ratesavailabletopeopleinthe loans, alsomadespecialprovisions and personalsmallbusiness including credit cards, mortgages, Citigroup’s credit operations, in theirlocalcommunities. thousands ofemployeestodonate andCEOofCitigroup’sChairman Corporate&InvestmentBank MICHAEL A.CARPENTER this assistance. touched insomewaybythistragedy, andover5,000peopletookadvantageof to address theneedsofouremployeeswho,likesomanyothers,were personally our employeeswasimpressive. Anarray ofcounselingprograms wasestablished the disasterrecovery sightsinthearea, thededicationandcommitmentofall tion ofourSevenWorld Trade Centeroffices AsItoured andcommutingdisruption. our employeeswere confronted with personalloss,emotionaltrauma,thedestruc- of work.Theseextraordinary accomplishmentstookplacewhilemanyof ” fact that16,000employeeswere displacedfrom place theirnormal we were toserveourcustomersdespitethe quicklyupandrunning making theirwaytolocationsacross thetri-statearea. Asaresult, technologists wenttoworkimmediatelyondisasterrecovery, “ Following thedisaster, ourbusinessheads,supportstaff and mind, Citigroup established the children andtheirfuture in disabled onSeptember11.With were lostorwhowere permanently the children ofthosewhoselives Life willneverbethesamefor CITIGROUP RELIEFFUND affected areas. small businesscustomersinthe the burdens ofourconsumerand and beganadvancingfundstoease we were abletoprocess claims, mobile insuranceclaimoffices, and Manhattan. TheCAT Vans as serve and otherorganizations. Red Cross andSalvationArmy contributed tolocaldrivesbythe for theCity,” ouremployeeshave Citigroup ReliefFundand“Citi In additiontocontributingthe to supportimmediaterelief efforts. Centers andCitiFinancialoffices donations atCitibankFinancial and clientswishingtomakesmall for theCity”fundemployees Citigroup alsocreated the“Citi the sixemployeeswhodied. tribute directly tothefamiliesof employees andcustomerstocon- Fund wasestablishedtoallow The Citigroup EmployeeFamily $18.4 millionbyyear-end. tions, bringingitstotalto personal tax-deductiblecontribu- added tothisfundbymaking clients andotherinterested parties followed, Citigroup employees, nently disabled.Intheweeksthat lives were lostorwhowere perma- for thechildren ofthosewhose Foundation toprovide scholarships donation from theCitigroup started witha$15million September 14.TheFundwas the Citigroup ReliefFundon 43 CITIGROUP 2001 9/11 EFFORTS 44 CITIGROUP 2001 AWARDS AND RECOGNITION CORPORATE CITIZENSHIP OF2001 HIGHLIGHTS Latina Employees Among BestCompaniesfor LATINA Style Corporate PartnerAward Outstanding CompanyAward and U.S. Junior AchievementinArgentina Best PracticesAward ofExcellence of America Independent InsuranceAgents Corporate SocialResponsibilityAward IESE andAddeccoinSpain Corporate SponsorAwards Habitat forHumanityinU.S. 100 BestCompaniestoWork For Guia Exame AwardCommunity Service Goodwill IndustriesinU.S. Citizenship Selected forGuidetoGoodCorporate Exame Citibank’s HealthManagementProgram Award inU.S. C. Everett KoopHealthExcellence Citigroup SelectedasComponent Dow JonesSustainabilityWorld Indexes Most RespectedBank in Taiwan Commonwealth AwardPublic Service New York State Cerebral PalsyAssociationsof Business Partnerships Award forExcellenceinCommunity Australian PrimeMinister Performance Eureka Award forImproving Organization Million DollarProductivity Project Award Asian Government Magazine inBrazil in Brazil Magazine inU.S. Magazine AWARDS Chairman’s Award United Way inU.S. 2001 Honoree Supportive Housing of NewJersey&Corporationfor Supportive HousingAssociation Proclamation forLong-Time Support State ofNevada,U.S. Business PartnershipAward Public SchoolsofChicago,Illinois Outstanding CorporateLeadership Struggle forEqualityinFlorida People UnitedtoLeadthe AwardCommunity Service NORWESCAP inNewJersey Community Service President’s Award forExemplary Florida Trust,Miami-Dade Empowerment www.sustainability-indexes.com. Global Index.For more information pleaserefer totheDJSIWorld Web siteat: the DJSIWorld are chosenfrom 2,500ofthelargest capitalizedcompanies intheDowJones demonstrating superiorenvironmental, socialandeconomicperformance.Thoselisted on rate sustainabilityandare leadingtheirindustriesbysettingstandards forbestpracticesand Companies includedontheDJSI World are recognized asbeingthetop10percent incorpo- of sustainability-drivencompanies representing 62industries worldwide. Indexes (DJSIWorld), whichistheworld’s firstindexfamilytrackingtheperformance In 2001,Citigroup wasselectedasacomponentoftheDowJones SustainabilityWorld DOW JONESSUSTAINABILITY WORLDINDEXES development training. helping ouremployeesimprove performanceresults through timemanagementandcareer launched Project Excellence,whichresulted inbothimproving ourprocessing ofdataand methodology andtechniquesthatimprove anorganization’s performance.In2001,we The Eureka Award isconferred tothemostinnovativeproject whichhasemployedunique system enhancementsandsimplifications. operating expenses.Project Evolutionencompassedstandardization, process improvements, costs perproject. Citibank’s Project Evolutionwontheaward forsaving$3.9millionintotal Award toorganizations thathavesavedatleast$1millioninmanpower, equipmentandother The AsianGovernment’s Productivity andStandards Board presents itsMillionDollarProject ASIAN GOVERNMENT’SMILLIONDOLLARPROJECTANDEUREKAAWARDS & RECOGNITION Corporate Philanthropic Award YWCA, UpstateNewYork Working Mothers Top 10BestCompaniesfor Working Mother Workplace Award Wellness CouncilsofAmerica Special Recognition(9/11Support) Excellence inLending U.S. SmallBusinessAdministration Best inClassforCitibankFamilyTech U.S. Conference Board 2001 Honoree U.S. CensusBureau Magazine inU.S. PHOTO CREDITS Photos on pages 22 – 27 and 31 used courtesy of Conservation International. For more information on the programs described in Citigroup’s Global Corporate Citizenship Report, please e-mail: Design: Salomon Smith Barney [email protected]. For more information on Graphic Communications Citigroup’s environmental and sustainability initiatives, please e-mail: printed on recycled paper with soy ink ilene.fi[email protected] or [email protected]. 95619 3/02 CIT2031