London, December 2, 2011
—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 recognize 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 recognize achievements across four categories that reward banks, asset owners and asset managers as well as their nonfinancial 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
March 15, 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. Nonfinancial 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 $500 billion, substantial operations on at least two continents, and more than 40 percent of revenue earned outside the country of incorporation.
Shortlists will be announced for each category in April 2012. The winners will be announced and the awards presented on June 14, 2012 at the FT/IFC Sustainable Finance Awards Dinner, which will be held at the Landmark Hotel in London.
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, Business Advisory Services, IFC.
PwC is technical advisor to the awards program.
About the Financial Times
The Financial Times, one of the world’s leading business news organisations, is recognized 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 605,402 (Deloitte assured, 3 January 2011 to 3 April 2011) and a combined print and online average daily readership of 2.1 million people worldwide (PwC assured, November 2010). FT.com has over 3.6 million registered users and 224,000 paying digital subscribers. The newspaper, printed at 24 print sites across the globe, has a global print circulation of 362,685 (ABC, May 2011).
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
.
