CITI Singapore has donated another S$152,021 to the annual ChildAid charity concert organised by The Business Times and The Straits Times. The money was raised exclusively by Citi staff, families and partners who organised bake sales, auctions, calligraphy workshops, zumba sessions and other activities where it was compulsory for participants to make a donation.

The figure comes on the heels of the S$120,000 that the bank had donated last month (june) to mark its 120th anniversary in Singapore.

Amol Gupte, who heads South Asia and Asean at the bank, said: “It is always heartening to see our employees step up and exemplify Citi’s values through the Citi Supports ChildAid campaign. We are proud that for the 7th year running, the bank’s annual fund-raising campaign has reached beyond S$100,000.”

ChildAid raises funds for The Business Times Budding Artists Fund and The Straits Times School Pocket Money Fund. The Budding Artists Fund helps artistically talented kids from disadvantaged homes pursue their passions, while the Pocket Money Fund helps underprivileged children pay for lunch and transport to and from school. Since 2002, Citi has raised more than S$7.2 million for the two charities.

The cheque was handed out on Wednesday at the Youth Co: Lab Summit co-organised by the Citi Foundation and United Nations Development Programme (UNDP), in partnership with the National Youth Council Singapore. The summit gathered some 250 participants from 20 countries in Singapore to discuss how young people can tackle the world’s most urgent issues and achieve the United Nations Sustainable Development Goals set out in 2015.

At the 2-day summit, attendees engaged with private and public stakeholders, including government officials, incubators and investors, to discuss youth participation and leadership in sustainable development, innovative financing solutions and gender-inclusive entrepreneurship. The guest of honour was Minister of State for Culture, Community and Youth, and for Trade and Industry, Alvin Tan.

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 Christophe Bahuet, deputy director of UNDP’s Regional Bureau for Asia and the Pacific, said: “If given space and a voice, youth are powerful actors in addressing some of the world’s toughest development challenges, and the UNDP is committed to supporting and mobilising young people, especially social entrepreneurs who are driving innovation in communities across the Asia-Pacific region.”

Since its inception in 2017, the initiative has reached over 200,000 participants, benefited over 11,000 young social entrepreneurs, and helped launch or improve more than 1,240 social enterprises. 

In April 2021, Citi announced its commitment of US$1 trillion to sustainable finance by 2030. This includes a $500 billion environmental finance target, under which the bank finances and facilitates a wide array of climate solutions, from clean technology to renewable energy. It also supports clients who prioritise ESG agendas: In 2021, Citi raised a record US$40 billion for Asia-Pacific clients to finance sustainability projects — a 6-fold increase from 2020.

The bank has also pledged a collective commitment of US$35 million in philanthropic investments to advance economic opportunities and employability for youth from low-income and under-served communities in the Asia Pacific region by 2023.