Citigroup Corporate Social Responsibility Evalutation

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Citigroup Corporate Social Responsibility Evaluation

Corporate social responsibility has become a hot term in the past few years as corporations have become larger and even more powerful. Watch-dog organizations have been formed to monitor the actions of corporations and report “rogue” companies who do not mean their standards for being socially responsible. Recently, many companies have started to issue corporate social responsibility reports along with their annual reports. Citigroup, a financial services firm is one of these companies.

Citigroup is one of the largest companies in the world. Citigroup provides a wider range of financial services from insurance to financial advisory service. According to Forbes, Citigroup is the largest financial services corporation in the world with revenues over $130 billion dollars worldwide.

The company is 14th on the Forbes 100 list and employers over 300,000 employees. Perhaps, most important the company has been rated by Fortune magazine as one of the top 50 most “responsible” companies in 2007 . Citigroup’s rankings are based on the extent to which Citi has incorporated responsible practices into its business and how well they account for the effects of their actions on stakeholders. Citigroup also made the list in 2006 .

In its Corporate Citizenship executive summary , Pamela Flaherty director of corporate citizenship at Citigroup, highlights three initiatives Citigroup has undertaken to make a positive impact on society. These initiatives are a(n)

• Issuance of a statement on climate change

• Statement on human rights

• Program to help families who face foreclosure in our U.S. consumer business

The first two initiatives detail the company’s views on climate change ...

... middle of paper ...

...rate social responsibility. Hopefully, Citigroup can continue to be a leader in its industry both fiscally and in terms of social responsibility.

Works Cited

Fortune Magazine. (2007). Fortune Most "Accountable" Companies 2007. Retrieved November 27, 2007, from Fortune Magazine: http://money.cnn.com/magazines/fortune/global500/2007/accountability/full_list.html

Fortune Magazine. (n.d.). FORTUNE Most 'Accountable' Companies. Retrieved November 27, 2007, from Fortune Magazine Web Site: http://money.cnn.com/magazines/fortune/global500/2006/full_list/

Citigroup Inc. (2006). Citizenship Report 2006 Executive Summary. Retrieved November 27, 2007, from Citigroup : http://www.citigroup.com/citigroup/citizen/community/data/citizen06_sm.pdf?ieNocache=202

Dugger, C. W. (2006, April 1). Clinton, Impresario of Philanthropy, Gets a Progress Update. New York Times , p. 2.

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