- June 24, 2014
- Posted by: eflorencio
- Category: Association News
ADFIAP and the European Organization for Sustainable Development (EOSD) together with the City of Karlsruhe, Germany presented the 2014 winners of the Global Sustainable Finance (GSF) Awards on June 12, 2014 at the City Hall of Karlsruhe.
Launched in 2012 and presented by the Global Sustainable Finance Network (GSFN), the objectives of Awards are to: (a) provide recognition to financial institutions that have successfully embedded economic, social and environmental sustainability into their businesses; (b) honour organizations that have made outstanding contributions in the field of sustainable finance; (c) stimulate the interests of financial institutions and other stakeholders in integrating sustainability in their core business strategy; and (d) promote the growth of green financial instruments and markets worldwide.
The three Awards categories are (1) Best Innovation in Sustainable Financial Products & Services that recognizes outstanding success in financial products and services that balance the 3 Ps – People, Planet, Profits. Winners in this category will have applied innovative approaches in embedding sustainability in lending and/or deposit products or in other financial services that advance the transformation to low carbon and sustainable economy; (2) Outstanding Sustainable Project Financing that recognizes outstanding success in long-term financing of exemplary industrial/ commercial or infrastructure projects that benefit local
communities, protect the environment and ensure reliable returns to investors and depositors; and (3) Outstanding Business Sustainability Achievement that recognizes outstanding success in incorporating economic, social and environmental aspects in the corporate strategy and business processes. Winner in this category will have holistically embedded sustainability across the financial institution.
The winners for this year’s awards went to the Infrastructure Development Company Ltd. of Bangladesh, Yes Bank Ltd. of India and Land Bank of the Philippines, respectively. The Award is nicknamed, “The Karlsruhe Sustainable Finance Awards” in honour of the City of Karlsruhe which has supported the Awards as a means to promote it as a “sustainable city of the world”.