Reuters

(Reuters)

Citigroup to Set Aside $100B to Fund Green Projects

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Citigroup Inc said it would set aside $100 billion to fund environmental projects over the next decade, doubling the amount it had earmarked for such projects in 2007.

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Citigroup said it would fund projects related to renewable energy, greenhouse gas reductions and sustainable transportation.

The third-largest U.S. bank said it had met its previous investment target three years ahead of schedule in 2013.

In 2012, Bank of America Corp set a goal of $50 billion to provide loans and other financing for environmentally friendly energy projects over 10 years. (http://reut.rs/1A5y1Ss)

The same year, Goldman Sachs Group Inc set a 10-year target of $40 billion for investments in renewable energy projects. (http://reut.rs/1vFrc4E)

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Ted Kerr)