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London, June 4, 2010
—The Financial Times and IFC, a member of the World Bank Group, have announced the winners of the 2010 FT Sustainable Banking Awards, with Co-Operative Financial Services of the United Kingdom named as Sustainable Bank of the Year and Itaú Unibanco of Brazil taking the overall Emerging Markets prize.
Now in their fifth year, the awards recognize 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 organized by the Financial Times and IFC.
The 2010 winners and runners-up in each category are:
Sustainable Bank of the Year
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Winner: Co-Operative Financial Services, U.K.
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Runner-up: HSBC, U.K.
Emerging Markets Sustainable Bank of the Year
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Winner: Itau Unibanco, Brazil
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Regional winner Africa/Middle East: Nedbank, South Africa
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Regional winner Asia: BRAC Bank, Bangladesh
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Regional winner Eastern Europe: Industrial Development Bank of Turkey (TSKB)
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Regional winner Latin America: Itaú Unibanco, Brazil
Achievement in Basic Needs Financing
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Winner: One Acre Fund, Kenya
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Runner-up: Acumen Fund, U.S.
Achievement in Banking at the Base of the Pyramid
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Winner: Financial Information Network and Operations (FINO), India
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Runner-up: MicroEnsure, U.K.
Sustainable Investor of the Year
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Winner: Global Environment Fund, U.S.
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Runner-up: Calvert Foundation, U.S.
"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 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 recognize 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 subcategory under Emerging Markets Bank of the Year—before selecting the overall winners.
The judges were:
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Martin Dickson, Deputy Editor, Financial Times (co-chair)
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Rachel Kyte, Vice President for Business Advisory Services, IFC (co-chair)
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Isher Judge Ahluwalia, Chairperson, Indian Council for Research on International Economic Relations
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David Harris, Head, Responsible Investment, FTSE Group
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Mary Ellen Iskenderian, President and CEO, Women's World Banking
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Richard Laing, Chief Executive, CDC Group Ltd
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Herman Mulder, international sustainable development advisor
Leading consultancy Sustainable Finance Ltd, a subsidiary of PricewaterhouseCoopers LLP, was technical advisor for the program.
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
Julie Ziegler, IFC, Washington, D.C., +1 (202) 473 0128
jziegler1@ifc.org
Notes to Editors:
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 newspaper, printed at 23 print sites across the globe, has a daily circulation of 386,590 (ABC figures April 2010), while FT.com has over 2 million registered users and 126,281 digital subscribers. The FT has a combined print and online average daily readership of 1.9 million people worldwide (PwC audited figures, November 2009).
About IFC
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
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