Citigroup Expands Climate Goals to Include Autos and Coal (1)

Citigroup Inc. is expanding its climate goals with a plan to reduce its financing to heavy-polluting industries, including automakers and thermal coal-mining companies.

The bank said in this year’s climate report published Thursday that it’s adding 2030 net-zero emissions targets for its lending to the automobile, commercial real estate, steel and thermal coal-mining industries. Citigroup has already made pledges related to the energy and power sectors.

Chief Executive Officer Jane Fraser has focused on the bank’s environmental ambitions since she stepped up to the role two years ago. Citigroup joins banks, including JPMorgan Chase & Co., that have been ...