IFC, FT launch banking awards

The Financial Times and the International Finance Corp. (IFC) is launching the 2009 FT Sustainable Banking Awards, recognizing banks and other financial institutions for leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.

Now in their fourth year, the awards incorporate a new category, the Award for Achievement in Basic Needs Financing, which is open to all financial sector participants and recognizes ground-breaking transactions, programs and initiatives that use the power of finance to address the scarcity of essential goods across society.

The FT Sustainable Banking Awards have grown in popularity and last year’s winners were selected from a record 182 entries from 129 institutions across 54 countries.

For 2009, applications are being accepted until March 6 in the following five categories: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year, Achievement in Basic Needs Financing, Banking at the Bottom of the Pyramid, and Sustainable Investor of the Year.

The awards for Achievement in Basic Needs Financing, Banking at the Bottom of the Pyramid, and Sustainable Investor of the Year, are open to all financial institutions, including non-banks. The other two categories are open only to banking institutions.

Each category will have a shortlist of five finalists – except Emerging Markets Sustainable Bank of the Year, where, as in previous years, the winner will be chosen from four banks awarded prizes for regional leadership in Africa/Middle East, Asia, Eastern Europe and Latin America respectively.

The winners will be announced and the awards presented on June 4, 2009 at a gala dinner at the Renaissance Chancery Court Hotel in London attended by senior bankers and decision-makers in the area of sustainability.