The IFC and Financial Times have teamed up to launch an award recognizing banks that actively integrate social and environmental options into their operations. The award builds upon the successful adoption of the ‘Equator Principles’ by over 30 leading banks and the increasing rise of the ethical financier. In the words of FT editor Lionel Barber:
As intermediaries in our economies, banks have an important part to play in fostering a sustainable world - whether they are financing specific projects, providing cash to environmentally focused businesses or responding to the increased demand for environmental and ethical investment funds.
The launch of the award could not be timelier, being that today the UN Climate Change Conference starts in Montreal. Representatives from over 180 countries will be discussing the future of the Kyoto protocol and how sustainable projects can be financed in poorer nations.
For more, see the award Web site or join this online discussion. Also note Goldman Sachs ‘going green’ last week.
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