net zero across the value chain by 2050. Citi acted as structuring advisor and active bookrunner on the € 750 m illion SLB. As part of this bond issuance, Tesco agreed to cut its Scope 1 and 2 GHG emis - sions by 60% by 2025, relative to a 2015 baseline. Failure to achieve this target in Tesco’s 2 025 fi nancial y ear w ill r esult i n a 25 basis point step-up in the coupon in 2027, 2 028 a nd 2 029, r einforcing T esco’s climate commitments to both external and internal s takeholders. Also i n 2 021, C iti s erved a s s ole structuring a dvisor a nd l ead l eft bookrunner f or a $ 2.8 b illion g reen b ond offering f or A rdagh M etal P ackaging, a global l eader in s ustainable a luminum packaging so lutions. T he o ffering w as the l argest-ever h igh-yield g reen b ond completed t o d ate. A rdagh h as p ublished a Green F inancing F ramework t hat p rovides details o n t he e ligible u se o f p roceeds. In our Global Markets business, we recently established a dedicated ESG team to support our client engagement through the integration of strategic sustainability and ESG services and solutions. Global Markets provides clients with ESG thought leadership about trends, market evolution, themes, integration and data-driven anal - ysis. We aim to lead our clients through the rapidly evolving landscape of ESG by partnering with clients to develop new solutions across fixed-income, securitized products, multi-asset strategies and sustainable real assets, in addition to our full range of solutions in equities. Using our strengths in primary issuance and secondary trading, we support the development of deep, liquid and efficient sustainable markets. Citi is also able to address origination and financing gaps for clean energy and energy-efficiency project developers and investors by working across banking, advisory, origination and markets teams for optimal client solutions. Our Clean Energy Finance group, for example, has expertise in providing full-service financing solutions for a broad spectrum of renewable energy technolo - gies, serving as a one-stop shop for our clients, as well as financing to help clients implement energy efficiency projects. Citi Global Wealth , through its Investing with Purpose approach, offers managed opportunities, alternative investments and tailored exposure to capital markets to help clients pursue their sustainable investment objectives. As clients have been increasingly concerned with the impact their investments may have on society and the environment, the direction of sustainable investing is evolving past socially responsible investing, and Citi Global Wealth has updated its offerings to meet this growing area of client demand. The Investing with Purpose platform provides opportunities for private clients to invest alongside Citi’s institutional clients. Multiple Citi Global Wealth clients have participated in differentiated capital markets solutions supporting the global green energy transition, an investment thesis reaffirmed by our investment strategy team. As the world goes greener, the opportunities for Citi Global Wealth investors are likely to multiply over the coming years, enabling us to build entire core and opportunistic allocations that reflect sustainable principles — a process we might describe as “greening your portfolio.” Our Treasury and Trade Solutions (TTS) business provides financing and cash management solutions to clients across the globe. We have established a global, cross-func - tional ESG working group to develop holis - tic sustainable working capital, investment and cash management solutions. These include, but are not limited to, Sustainable Supply Chain Finance, Sustainable Trade and W orking C apital L oans a nd S ustainable Deposits, as well as Money Market Funds with ESG principles embedded. Through Contents ESGatCiti SustainableFinance SustainableProgress Equitable&ResilientCommunities Talent& DEI RiskManagement&ResponsibleBusiness Appendices CITI 2021 ESG REPORT 35