Citi Investors Reject Oil, Gas Loan Limits as Climate Activists Gather at HQ

Bloomberg Quint

(Bloomberg) – Citigroup Inc. shareholders rejected a proposal that would have limited the bank’s ability to lend to projects dedicated to new oil and gas exploration as climate activists convened at the firm’s Tribeca headquarters in Manhattan. Just 12.8% of shareholders voted in favor of the measure, according to a preliminary tally at the company’s virtual annual meeting Tuesday. Investors also rejected proposals that would have required the company to examine how it treats Indigenous people and review its efforts to become an anti-racist institution.