The Financial Times and IFC, a member of the World Bank Group, have launched the 2012 FT/IFC Sustainable Finance Awards, the world’s leading awards for banks and other financial institutions that demonstrate leadership and innovation in integrating environmental, social and corporate governance considerations into their business.
Now in their seventh year, these awards reflect the growing role that the financial sector plays in addressing some of the world’s most pressing challenges, including climate change and environmental degradation, social exclusion, food security, improving access to finance and using technology to better serve the world’s poor.
Many investment institutions and financial intermediaries in developed and emerging markets are addressing these challenges and creating long-term value for their shareholders by managing environmental, social and governance risks and boosting competitiveness through innovative, commercially viable and sustainability-focused products and services. Last year’s awards attracted a record 187 entries from 161 institutions in 61 countries.
“Adopting strong environmental, social and corporate governance standards reaps rewards for both society and shareholders,’’ said IFC Executive Vice President and CEO Lars Thunell. “These awards recognise the key role that sustainable finance can play in creating jobs, fighting climate change and improving access to finance.’’
Martin Dickson, Deputy Editor of the Financial Times and co-chair of the Sustainable Finance Awards judging panel, said: “The 2012 awards come at a delicate juncture for the financial industry, with banks facing a financial crisis in Europe and strong regulatory and balance sheet pressures. At the same time, the global economy remains weak and volatile, putting further strains on the most vulnerable parts of society.”
The FT/IFC Sustainable Finance Awards this year recognise achievements across four categories that reward banks, asset owners and asset managers as well as their non-financial partners on an institutional and transactional basis. For 2012, a new award will be offered to acknowledge initiatives in financial services that harness information technology and communications to address the scarcity of essential goods in the world’s poorest communities.
Entries will be accepted until 15 March 2012 in the following categories:
Sustainable Bank of the Year
Sustainable Investor of the Year
Sustainable Investment of the Year
Technology in Sustainable Finance
The first category is open to banks; the remaining categories are open to all financial institutions. Real sector companies that work in partnership with financial institutions to deliver sustainable products and services may apply for the Sustainable Investment and Technology awards.
As part of the overall Sustainable Bank of the Year category, Regional Awards will also be offered for leadership and innovation in Africa/Middle East, Americas, Asia-Pacific and Europe. A separate Global Sustainable Bank of the Year prize will be open to institutions with assets of more than US$500bn, substantial operations on at least two continents and more than 40 per cent of revenue earned outside the country of incorporation.
Entry forms and criteria will be available at www.ftconferences.com/sustainablefinance from 15 December 2011.
Short lists will be announced for each category in April 2012. The winners will be announced and the awards presented on 14 June 2012 at the FT/IFC Sustainable Finance Awards Dinner which will be held at The Landmark Hotel in London.
The dinner will conclude the 2012 FT/IFC Sustainable Finance Conference, a major one-day summit that will gather some of the world’s most renowned visionaries, strategists and financial decision-makers.
The judging panel for the FT/IFC Sustainable Finance Awards will be co-chaired by Martin Dickson, Deputy Editor of the Financial Times, and Nena Stoiljkovic, Vice President of Business Advisory Services at IFC.
PricewaterhouseCoopers is technical advisor to the awards programme.
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About the Financial Times:
The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 592,390 (Deloitte assured, 4 July to 2 October 2011) and a combined print and online average daily readership of 2.1 million people worldwide (PwC assured, May 2011). FT.com has 4 million registered users and 250,000 paying digital subscribers. The newspaper, printed at 23 print sites across the globe, has a global print circulation of 345,077 (ABC, October 2011).
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