LONDON: The Financial Times and IFC, a member of the World Bank Group, today announced the winners of the 2010 FT Sustainable Banking Awards, with Co-Operative Financial Services of the UK named as Sustainable Bank of the Year and Itau Unibanco of Brazil taking the overall Emerging Markets prize.
Now in their fifth year, the awards recognise banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.
The awards were presented at a gala dinner in London attended by more than 250 senior bankers and decision-makers in the area of sustainability. Dr Mo Ibrahim, Chairman and founder, Mo Ibrahim Foundation, and Founder, Celtel International, was keynote speaker at the dinner. The event followed a one-day Sustainable Banking Conference organised by the Financial Times and IFC.
The 2010 winners and runners-up in each category are:
Sustainable Bank of the Year
Winner: Co-Operative Financial Services, UK
Runner-up: HSBC, UK
Emerging Markets Sustainable Bank of the Year
Winner: Itau Unibanco, Brazil
Regional winner Africa/Middle East: Nedbank, South Africa
Regional winner Asia: BRAC Bank, Bangladesh
Regional winner Eastern Europe: Industrial Development Bank of Turkey (TSKB)
Regional winner Latin America: Itau Unibanco, Brazil
Achievement in Basic Needs Financing
Winner: One Acre Fund, Kenya
Runner-up: Acumen Fund, US
Achievement in Banking at the Base of the Pyramid
Winner: Financial Information Network and Operations (FINO), India
Runner-up: MicroEnsure, UK
Sustainable Investor of the Year
Winner: Global Environment Fund, US
Runner-up: Calvert Foundation, US
“We are seeing a much greater commitment by financial institutions in both developed and emerging markets to make sustainability a core part of their business. The quality of this year’s awards entries reflect this commitment and the winners and runners-up announced today are leading the way,” said Martin Dickson, Deputy Editor of the Financial Times and co-chair of the awards judging panel.
“Broadening financial services to the poor and helping to raise living standards around the world is good for business — and good for the global economy,” said Lars Thunell, IFC Executive Vice President and CEO. “As these award recipients demonstrate, an increasing number of financial institutions recognise that and are finding innovative ways to expand access to finance and improve the environment.”
The judging panel narrowed down the entries to a short-list of five institutions for each category of award — and three banks for each regional sub-category under Emerging Markets Bank of the Year — before selecting the overall winners.
The judges were:
Martin Dickson, Deputy Editor, Financial Times (co-chair)
Rachel Kyte, Vice President, Business Advisory Services, IFC (co-chair)
Isher Judge Ahluwalia, Chairperson, Indian Council for Research on International Economic Relations
David Harris, Head, Responsible Investment, FTSE Group
Mary Ellen Iskenderian, President and CEO, Women’s World Banking
Richard Laing, Chief Executive, CDC Group Ltd
Herman Mulder, international sustainable development advisor
Leading consultancy Sustainable Finance Ltd, a subsidiary of PricewaterhouseCoopers LLP, was technical advisor for the programme.
For more details on the FT Sustainable Banking Conference and Awards, please visit: www.ftconferences.com/sustainablebanking
Pictures of both events will be available from 0900 hours (GMT) the following day at: http://www.ftconferences.com/sustainablebanking/Page/Photographs/
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IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.
For further information, please contact:
Kristina Eriksson, Financial Times
+44 20 7873 4961
Harriet Mallinson, Financial Times, London
+44 (0) 20 7873 3882
Lizzie Talbot, Financial Times, London
+44 (0)20 7873 4463
Julie Ziegler, IFC, Washington, DC
+1 (202) 473 0128
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