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Citi adds ESG scores to data platform for climate-conscious investors

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FILE PHOTO: The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto
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(Reuters) - Citigroup has added environmental, social and governance (ESG) scores to its securities services data platform for clients to track the sustainability exposure of their portfolio holdings, the U.S.-based banking group said on Thursday.

For the Citi Velocity Clarity platform, the lender said it analyzes "multiple sustainability measures" provided on a daily basis by the ESG insight company Arabesque S-Ray, and will work with clients to include more data from other providers.

"The ability to understand ESG exposure has become imperative across the entire industry as investors, advisors and regulators are increasingly asking for transparency from asset managers and asset owners," said Fiona Horsewill, global head of data for Citi securities services.

Along with growing investor concerns over climate change, Citi has introduced several measures in its green push, including plans last month to merge three of its investment banking groups into one.

(Reporting by Anushka Trivedi in Bengaluru; Editing by Shailesh Kuber)