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The Financial Times and IFC, a member of the World Bank Group, today launched the FT/IFC Sustainable Finance Awards, a major global programme designed to recognise the institutions across the financial industry that have shown leadership and innovation in integrating environmental, social and governance considerations into their business.
The FT/IFC Sustainable Finance Awards evolve out of the FT Sustainable Banking Awards, which over five years established themselves as the world’s leading awards for banks and other institutions focused on sustainable development. The transformation of the Sustainable Banking Awards into the Sustainable Finance Awards reflects the major shifts that are taking place across the banking and investment community, which faces growing pressure to incorporate environmental, social and governance factors into all levels of decision-making, from risk management and product design to actual investing and financing.
“Many banks, investment houses and other financial institutions are transforming their business and providing ground-breaking products and services that address some of the key concerns of our time. These expanded Awards recognise this shift at a time when the financial industry is seeking new opportunities for growth after the worst crisis since the Great Depression,” said Martin Dickson, FT Deputy Editor and Co-Chair of the awards judging panel.
Lars Thunell, IFC Executive Vice President and CEO said: “IFC sees huge potential for innovation and better corporate governance as the industry develops products and services that deliver finance in a way that lifts people out of poverty, helps create sustainable jobs and fights climate change”
Applications are being accepted until March 14, 2011 in the following five categories: Sustainable Bank of the Year, Sustainable Asset Owner of the Year, Sustainable Asset Manager of the Year, Achievement in Basic Needs Financing, and Achievement in Financing at the Base of the Pyramid.
Short-lists will be announced for each category in April 2011, with a new expanded list of 10 nominees for Sustainable Bank of the Year. The winners will be announced on June 16, 2011 at a gala dinner at Renaissance Chancery Court Hotel in London.
The dinner will conclude the 2011 FT/IFC Sustainable Finance Conference, a major one-day summit that will gather on June 16, 2011 some of the world’s most renowned visionaries, strategists and financial decision-makers.
The judging panel will be co-chaired by Martin Dickson, Deputy Editor of the Financial Times and Rachel Kyte, Vice President, Business Advisory Services, IFC.
The panel includes:
PricewaterhouseCoopers LLP will be technical advisor for the awards.
Details on the awards and the Sustainable Finance Conference can be obtained at www.ftconferences.com/sustainablefinance.
For further information, please contact:
Harriet Mallinson, Financial Times, London, +44 (0) 20 7873 3882
Lizzie Talbot, Financial Times, London, +44 (0) 20 7873 4463
John Philip McNally, IFC, +1 (202) 458 0723
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IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org