ADFIAP and the European Organization for Sustainable Development (EOSD) together with the City of Karlsruhe, Germany presented the 2016 winners of the Global Sustainable Finance Awards (GSFA) on July 14, 2015 held at the German Chamber of Commerce premises.
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) honor 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 Agrobank of Malaysia, Yes Bank Ltd. of India and Access Bank Plc of Nigeria, respectively. The Award is nicknamed, “The Karlsruhe Sustainable Finance Awards” in honor of the City of Karlsruhe which this year received the National German Sustainability Award and has supported the Awards since it started in 2012 and the Global Sustainable Finance Conference since its inception in 2011.