Citigroup, the world’s largest project financing bank provided the financing for mineral projects such as mining, logging and oil exploration. Some of the projects carried out in developing countries and in rainforests and other endangered ecosystems. In 2000, the Rainforest Action Network (RAN) launched the Global Finance Campaign, with Citigroup as a target. The aim was to convince Citigroup, and finally all lenders to stop funding destructive activities in fragile ecosystems. The … Read more »

Citigroup, the world’s largest project financing bank provided the financing for mineral projects such as mining, logging and oil exploration. Some of the projects carried out in developing countries and in rainforests and other endangered ecosystems. In 2000, the Rainforest Action Network (RAN) launched the Global Finance Campaign, with Citigroup as a target. The aim was to convince Citigroup, and finally all lenders to stop funding destructive activities in fragile ecosystems. The campaign began in early April 2000 RAN wrote to Citigroup, it urged its role in financing the destruction of the world’s remaining ancient forests and the acceleration of climate change. Shortly thereafter, at the annual meeting of Citigroup, RAN activists doubt on the Board of Directors and CEO Sandy Weill to an audience of shareholders. Citigroup agreed to meet with RAN immediately after the annual meeting. For the next two years, Citigroup and RAN regular meetings held during RAN continued their protests. Mike Brune, Director of RAN, believed that Citigroup was stalling -. Were the meetings discussions, not negotiations
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from
David P. Baron,
David S. Barlow,
Ann M. Barlow,
Erin Yurday
Source: Stanford Graduate School of Business
10 pages.
Release date: 01 June 2004. Prod #: P42A-PDF-ENG
Anatomy of a Corporate Campaign: Rainforest Action Network and Citigroup (A) HBR case solution

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