Sustainable banking awards: who's winning what?
The Financial Times and IFC announced shortlists of potential winners for the 2008 Sustainable Banking Awards. The awards recognize financial institutions that have led the way in integating their policies with social, environmental, and corporate governance objectives. Below is a sample the categories and the shortlisted candidates, the full list is available here.
Sustainable Bank of the Year
- Banco Real, Brazil
- Citi, US
- HSBC, UK
- Rabobank, Netherlands
- Standard Chartered, UK
Sustainable Deal of the Year
- BlueOrchard Finance, Switzerland/Morgan Stanley, US (microfinance loans)
- Calyon, France (solar thermal power plants)
- Citi, US (financing for rural housing)
- Glitnir Bank, Iceland (geothermal power generation)
- Merrill Lynch, US (carbon finance to reduce deforestation)
Banking at the Bottom of the Pyramid
- ASA, Bangladesh
- Banco Bradesco, Brazil
- ICICI Group, India
- Opportunity International, UK
- Wizzit, South Africa
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If sustainable banking is important, why don't bank regulators produce some minimum capital requirements for banks based on units of default risk per sustainable credit, instead of our current purposeless system exclusively directed toward avoiding a bank crisis? As if that is all there is to banking!
As is it is not clear whether this is a prize for what you are supposed to do as a bank or a price for what you are not supposed to do as a bank.
Posted by: Per Kurowski | Apr 28, 2008 8:50:08 PM