by the MicroCapital Team - Events -

PRESS RELEASE: Financial Times and IFC Launch 2008 Sustainable Banking Awards

Source: IFC

Original article available here.

LONDON, November 5, 2007 – The Financial Times, in partnership with IFC, the private sector arm of the World Bank Group, today launched the 2008 edition of the FT Sustainable Banking Awards, the leading awards for triple bottom line banking.

Two new categories – Banking at the Bottom of the Pyramid, and Sustainable Investor of the Year – have been added to the ground-breaking programme.

The awards, now in their third year, were created by the FT and IFC to recognise banks that have shown leadership and innovation in integrating social, environmental and corporate governance objectives into their operations.

“We were delighted with the strong response to the 2007 awards, and the two categories added this year should attract even greater interest from financial institutions around the world,” said Lionel Barber, editor of the Financial Times. “The Bottom of the Pyramid award will highlight the increasing importance of microfinance as well as the initiatives being undertaken by the larger financial institutions working with the poor. The FT is very pleased to be partnering with IFC again on this significant awards programme.”

Lars Thunell, IFC Executive Vice President and CEO, commented: “There are 4 billion people at the bottom of the economic pyramid. Together they represent a $5 trillion market, but few of them even have a bank account. The Bottom of the Pyramid Award will recognize financial institutions that are innovating to bring commercial microfinance, insurance, and other essential services to poor people.  This provides the tools people need to create their own wealth.”

The 2007 awards attracted 151 entries from 103 institutions in 51 countries, a substantial increase on the first year. ABN Amro won the Sustainable Bank of the Year award, while ABN Amro India was Emerging Markets Sustainable Bank of the Year. The Bankers of the Year award was won by Mexico’s Banamex/Citi-Compartamos, Sustainable Deal of the Year went to Deutsche Bank and Goldman Sachs, while Raiffeisen Zentralbank of Austria took the Achievement in Carbon Finance award.

For 2008, applications are being accepted in the following five categories: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year, Sustainable Deal of the Year, Award for Banking at the Bottom of the Pyramid, and Sustainable Investor of the Year.

Each category will have a shortlist of five finalists — except Emerging Markets Sustainable Bank of the Year, where the winner will be chosen from four banks awarded prizes for regional leadership in Asia, Eastern Europe, Latin America and Middle East/Africa respectively.

The deadline for entries is February 29, 2008. The Financial Times and IFC plan to organise a series of events during the application period to increase understanding of sustainable banking in key emerging markets. The first of these gatherings is being held in Miami today at the meeting of the Latin American Federation of Banks. Invitation-only cocktail receptions and dinners will also be held in Dubai, Shanghai, Mumbai, Moscow, Istanbul and Lagos ahead of the awards entry deadline.

The FT Sustainable Banking Awards will be presented at a special dinner in London on June 3, 2008. The event will be preceded by the 2008 FT/IFC Sustainable Banking Conference, which has become a major event on the international banking calendar following the success of the inaugural conference this year.

Leading consultancy Sustainable Finance Limited will again be technical advisor for the awards. The judging panel will be co-chaired by John Willman, UK business editor for the Financial Times, and Rachel Kyte, Director of Environment and Social Development, IFC, and will feature leading figures involved in sustainable finance and development.

Entry forms and details of the events being held in conjunction with the awards can be obtained at www.ftconferences.com/sustainablebanking.

Notes to Editors:

About the Financial Times
The Financial Times Group, one of the world’s leading business information companies, aims to provide a broad range of business information and services to the growing audience of internationally minded business people.  The FT Group includes:

  1. The Financial Times, one of the world’s leading business newspapers, is recognised internationally for its authority, integrity and accuracy.  Providing extensive news, comment and analysis, the newspaper is printed at 24 print sites across the globe, has a daily circulation of 441,219 (ABC figures, September 2007) and a readership of more than 1.3 million people worldwide.
  2. FT.com is one of the world’s leading business information websites, and the internet partner of the FT newspaper. FT.com is the definitive home for business intelligence on the web, providing an essential source of news, comment, data and analysis for the global business community. FT.com attracts 5.35 million unique monthly users generating 43 million page views (ABC electronic figures, March 2007). FT.com has 101,000 subscribers.
  3. The FT Group’s pan-European network of national business newspapers and online services including France’s leading business newspaper and website, Les Echos and lesechos.fr.  In February 2000, the FT launched a new German language newspaper, FT Deutschland, with a fully integrated online business news and data service.
  4. Through FT Interactive Data, the FT Group is one of the world’s leading sources of securities pricing and specialist financial information to global institutional, professional and individual investors.  Its products include eSignal, an online realtime streaming quotation service for brokers and active traders.
  5. FT Business, which produces specialist information on the retail, personal and institutional finance industries. It publishes the UK’s premier personal finance magazine, Investors Chronicle, and The Banker, Money Management and Financial Adviser for professional advisers.
  6. The Mergermarket Group, whose products and services provide the global advisory and corporate communities with intelligence and analysis. With regional head offices in London, New York and Hong Kong and 200 journalists in 46 locations worldwide, reliable and validated proprietary intelligence and historical data is provided via the mergermarket, dealReporter, Debtwire and wealthmonitor on-line platforms.  
  7. The Financial Times Group also has a stake in a number of joint ventures, including;
  • FTSE International, a joint venture with the London Stock Exchange.
  • Vedomosti, Russia’s leading business newspaper and a partnership venture with Dow Jones and Independent Media
  • A 50% stake in BDFM, publishers of South Africa’s leading financial newspapers and websites.
  • A 50% stake in The Economist Group, which publishes the world’s leading weekly business and current affairs journal.
  • A 13.85% stake in Business Standard, one of India’s leading financial newspapers.

The FT Group is part of Pearson plc, the international education and information company.

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through loan participations and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.

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