Citi has extended its partnership with Taronga Conservation Society Australia until 2024 to tackle the biodiversity crisis, working together to solve the increasing threat of biodiversity and habitat loss.

Citi Research shows the US $44 trillion of economic value generation is moderately or highly dependent on nature loss. Australia ranks in the top 10 countries worst impacted by nature loss, with events in reefs, like coral bleaching, being key contributors to this damage.

“Biodiversity loss is a serious environmental concern, with notable risks to our economy, businesses, and communities. Partnering with Taronga to take action on this issue is a natural extension of our partnership and honours the commitment we have made to our clients, employees, and community that we will be a true partner on the transition to a lower-carbon economy.”

Taronga is the leading organisation in Australia applying cryopreservation technologies to reef management, restoration, and research.

“We’re very proud to have Citi supporting Taronga’s Reef Recovery program and helping us secure the biodiversity of the Great Barrier Reef – one of the most important ecosystems on earth.” said Nick Boyle, Divisional Director of Welfare Conservation and Science.

Citi has been a Principal Sponsor of Taronga since 2020, focusing on the protection of koalas and their natural habitats, particularly following the devastating bushfire events that put koalas on the endangered species list in NSW and Queensland.