Citi collaborates with Vodafone to reduce emissions through supply chain

Citi (C), in collaboration with Vodafone (VOD), announced the addition of environmental criteria to Vodafone’s supply chain finance program, or SCF. Eligible suppliers to Vodafone will now be able to access preferential SCF rates from Citi by disclosing environmental data and demonstrating improvements to their performance. Eligible Vodafone suppliers will be able to access preferential financing rates from Citi based on multiple factors. These include an independent supplier categorization and roadmap framework, which was jointly developed by Vodafone and CDP, a global not-for-profit organization that runs a global environmental disclosure system. It is hoped that this new program will encourage suppliers to reduce their carbon footprint and ultimately contribute towards Vodafone meeting its Scope 3 emissions targets. The launch comes as Citi continues to roll out sustainable Trade and Working Capital solutions, including Sustainability-linked Supply Chain Finance, as part of its commitment to help clients with solutions to achieve their environmental ambitions.