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The Sustainable Finance Summit 2007 took place in London yesterday and today (September 18-19). The event was hosted by Ethical Corporation, an independent publisher, conference organizer, and outspoken advocate of responsible business practices worldwide. One of the topics covered at the summit was “Tapping into the £300 billion microfinance market.” Day one of the conference, Head of Global Microfinance at Citigroup, Robert Annibale presented a case study on Citigroup Global Microfinance’s joint venture with Compartamos, a partnership that won the FT Sustainable Deal of the Year award 2006.
At least 38 delegates representing 31 organizations attended the conference. These included investment bankers, financiers, government representatives, fund managers, retail bankers, and other executives from industries affected by energy security, climate change, and emissions regulations. Many speakers at the conference hailed from major global financial firms, such as Goldman Sachs and Merrill Lynch.
The speakers discussed the opportunities offered by ‘sustainable’ and ‘environmental finance’ and encouraged financial institutions to adopt eco-friendly policies and practices. On September 17, the Ethical Corporation held a pre-conference workshop, on the Equator Principles, a set of environmental and social guidelines established by a group of banks in partnership with the World Bank Group’s International Finance Corporation (IFC). The initial draft of the Equator Principles was launched in 2003, but they were updated and re-released in 2006. Numerous financial institutions have adopted the Principles, including Wells Fargo, Citigroup, and JPMorgan Chase.
By Elizabeth Nelson, Research Assistant
Additional Resources:
Ethical Corporation: The Sustainable Finance Summit 2007: Event Overview
Microcapital Article, November 8, 2006: “Ethical Corporation Hosts Sustainable Finance Summit in London, November 28th and 29th”
The Financial Times: FT Sustainable Banking Conference and Awards: 2006 Award Winners and Special Commendations
International Finance Corporation (IFC)
