The Financial Times Sustainable Banking Awards, created in association with the International Finance Corporation, the private sector arm of the World Bank Group, were announced on June 12, 2006, in London.
Speaking at the awards dinner, Lars Thunell, IFC's Executive Vice President, noted, "Sustainable banking is an opportunity to enhance risk management and manage better the environmental and social risks that can hit a business's bottom line."
This is the first global program recognizing banks that have shown leadership and progress in integrating social, environmental, and corporate governance objectives into their operations, while still maximizing financial gain for their shareholders.
Awards were issued in five categories:
- Sustainable Bank of the Year: HSBC
- Emerging Markets Sustainable Bank of the Year: Banco ABN Amro Real
- Sustainable Bankers of the Year: WestLB
- Sustainable Deal of the Year: Citigroup/Banamex & Financiera Compartamos
- Sustainable Energy Finance Deal of the Year: Credit Suisse
For a full list of the winners, including commended banks, visit www.ft.com/sustainablebanking.
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In their inaugural year, the awards drew 90 entries from 48 financial institutions with operations in Africa, Asia, Europe, and the Americas.
Thunell, who co-chaired the panel of judges, said, "Sustainability can create a platform for market differentiation, and competitive advantage. It can enhance a bank's corporate reputation as a responsible market player, and it can lead to the opening of profitable new markets."
The keynote speaker was David Cameron, Leader of Britain's Conservative Party. Georgina Baker, Senior Manager in IFC's Global Financial Markets department, and Leo Johnson, Co-founder of Sustainable Finance Ltd., introduced the nominees at the awards dinner. Rachel Kyte, Director of IFC's Environmental and Social Development department, announced the winners, alongside David Bell, the FT's Chief Executive Officer, and Paul Grimes, Chief Operating Officer for FTSE Group. Jyrki Koskelo, Director of IFC's Global Financial Markets department, also attended.
