Funds invested are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on the criteria set out in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.
Ryanair has partnered with Citi to become the first European airline to deposit funds in its new Sustainable Deposit Solution, which launched earlier this year. This will enable Ryanair to invest excess cash to support different sustainable financing projects across Citi’s portfolio, such as renewable energy, water conservation, healthcare and education in emerging markets.
The initiative supports Ryanair’s sustainability agenda. Funds invested are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on the criteria set out in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.
Ryanair’s Director of Sustainability, Thomas Fowler, said: “Ryanair is proud to be leading sustainable aviation in Europe, which is further evidenced by our partnership with Citi to deposit funds in their new Sustainable Deposit Solution. This will not only help us manage our finances more sustainably but will further drive our sustainability agenda in whole as we support several sustainability projects across Citi’s portfolio, from water conservation to affordable housing and beyond.”
David Tsui, Global Sustainability (ESG) Head of Deposit and Investment Products at Citi, said: “Citi is helping our clients to progress their own ESG priorities by providing the opportunity to support eligible environmental and social projects in Citi’s portfolios. We are delighted to partner with Ryanair as the first European airline to deposit funds in our recently launched Sustainable Deposit Solution. We have committed to financing and facilitating $1 trillion in sustainable finance by 2030 as part of goal to further the acceleration to a sustainable, low carbon economy.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
