IFC starts sustainable banking contest
March 20, 2007 | 12:00am
More than 100 institutions from 51 countries have submitted entries to the 2007 FT Sustainable Banking Awards, in association with the International Finance Corp. (IFC), underlining the program’s role as the leading global awards recognizing best practice in triple bottom line banking.
The IFC is the private investment arm of the World Bank.
A total of 151 entries were submitted marking a more than 50 percent increase from the 98 entries submitted in the inaugural 2006 Awards. The number of banks applying was up by more than 100 percent, with entries from 104 institutions, compared with last year’s 48 banks from 28 countries.
The 1st Valley Bank and Planters Development Bank were among the institutions included in the entries. The 1st Valley Bank is a rural bank located in Mindanao, while Planters Development Bank is the country’s leading private development bank.
The FT and IFC created the awards to recognize banks that have shown leadership and innovation in integrating social and environmental objectives into their operations.
Winners will be honored in five categories: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year, Sustainable Bankers of the Year, Sustainable Deal of the Year, and Achievement in Carbon Finance. Each category will have a short list of five finalists.
For the first time, there will also be additional awards for regional leadership under the Emerging Markets category.
The FT Sustainable Banking Awards will be presented at a special dinner at the Landmark in London on June 7. A major conference on sustainable banking, addressing the views of banks, their stakeholders, and civil society, is to take place earlier in the day.
"The rise in 2007 award entries and the increased geographical diversity of participants is a testament to the growing global recognition of sustainable banking. We are delighted to be working with IFC to highlight this area to the FT’s audiences around the world," said Lionel Barber, editor of the Financial Times.
"It is good to see entries coming from banks in the emerging markets in particular," IFC head Lars Thunell, said. "Banks around the world are using sustainable finance to create value for their customers, shareholders, employees, and the broader community."
The judging panel includes leading figures involved in sustainable finance and development such as: John Willman, UK business editor, Financial Times; Thunell; Paul Clements-Hunt of the United Nations Environment Programme (UNDP); Sergio Rosa, chief executive officer of PREVI; Paul Grimes, chief operating officer of the FTSE Group; and, Tessa Tennant, co-founder of the Association for Sustainable and Responsible Investment in Asia.
The IFC is the private investment arm of the World Bank.
A total of 151 entries were submitted marking a more than 50 percent increase from the 98 entries submitted in the inaugural 2006 Awards. The number of banks applying was up by more than 100 percent, with entries from 104 institutions, compared with last year’s 48 banks from 28 countries.
The 1st Valley Bank and Planters Development Bank were among the institutions included in the entries. The 1st Valley Bank is a rural bank located in Mindanao, while Planters Development Bank is the country’s leading private development bank.
The FT and IFC created the awards to recognize banks that have shown leadership and innovation in integrating social and environmental objectives into their operations.
Winners will be honored in five categories: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year, Sustainable Bankers of the Year, Sustainable Deal of the Year, and Achievement in Carbon Finance. Each category will have a short list of five finalists.
For the first time, there will also be additional awards for regional leadership under the Emerging Markets category.
The FT Sustainable Banking Awards will be presented at a special dinner at the Landmark in London on June 7. A major conference on sustainable banking, addressing the views of banks, their stakeholders, and civil society, is to take place earlier in the day.
"The rise in 2007 award entries and the increased geographical diversity of participants is a testament to the growing global recognition of sustainable banking. We are delighted to be working with IFC to highlight this area to the FT’s audiences around the world," said Lionel Barber, editor of the Financial Times.
"It is good to see entries coming from banks in the emerging markets in particular," IFC head Lars Thunell, said. "Banks around the world are using sustainable finance to create value for their customers, shareholders, employees, and the broader community."
The judging panel includes leading figures involved in sustainable finance and development such as: John Willman, UK business editor, Financial Times; Thunell; Paul Clements-Hunt of the United Nations Environment Programme (UNDP); Sergio Rosa, chief executive officer of PREVI; Paul Grimes, chief operating officer of the FTSE Group; and, Tessa Tennant, co-founder of the Association for Sustainable and Responsible Investment in Asia.
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