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Pandemic just a ‘dress rehearsal’ for ‘destructive’ climate change crisis, warns Citi CEO

Michael Corbat warns about the looming impact of the climate change crisis at Sustainability, ESG, and Alpha virtual summit

Tuesday, 15 September 2020 at 15:44

Michael Corbat, chief executive officer of Citigroup Inc.
Michael Corbat, chief executive officer of Citigroup Inc. Photo: Jason Alden/Getty Images

Citigroup chief executive Michael Corbat has warned that the coronavirus pandemic has served as a "dress rehearsal" for the looming impact of the climate change crisis.

Speaking at the bank's week-long virtual summit called Sustainability, ESG, and Alpha, the Citi boss - who is set to step down in February - called on the bank's clients to "transition" to a more sustainable strategy in a bid to tackle climate change.