NEW YORK: Citigroup Inc is stepping up its dealmaking in the underwriting of bonds for fossil-fuel companies, a development that coincides with intense climate protests outside its Manhattan office.
Between June 10, when the protests started, and Sept 5, when climate activists wrapped up their campaign, Citigroup helped arrange about US$4.2bil of bonds for clients including Saudi Aramco and Abu Dhabi’s main oil producer, Adnoc, according to data compiled by Bloomberg.
