Financial Times Launches Annual Sustainable Banking Awards.

Tuesday, November 29, 2005

Financial Times Launches Annual Sustainable Banking Awards.

The Financial
Times reports (11/24) it announced on Wednesday the launch of the first
global awards dedicated to recognizing banks that have actively integrated
social and environmental objectives into their operations, while still
maximizing financial gain for their shareholders.

The annual FT Sustainable Banking Awards – created in association with the
International Finance Corporation, a member of the World Bank Group – are
designed to highlight leadership and innovation in a field whose
development is becoming a key global business trend. Banks from both
developed and emerging markets will be invited to enter for awards 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 Sustainable Energy Finance Deal of the Year.

Winners will be chosen by a panel of judges gathering some of the leading
names in sustainable finance and development. The panel will be chaired by
John Willman, the FT’s chief leader writer. The technical adviser for the
program is consulting company Sustainable Finance Ltd. The judges will
look at the environmental, social and financial value created by the
banks’ sustainable approach and the deals they have been involved in. The
deadline for initial entries is March 1 next year. Short-lists will be
drawn up by March 31, with the winners announced at a gala ceremony in
London on June 6.

Lars Thunell, executive vice president of the World Bank, said: “Banks see
sustainability as an opportunity rather than a burden, and are
increasingly embracing the ’triple bottom line’ concept of social,
environmental and financial gain. It is important that the banks leading
this trend in terms of effort, commitment and innovation feel their
achievements are rewarded.”

Source: Financial Times (link opens in a new window)