ADFIAP, the European Organization for Sustainable Development (EOSD), the Association of African Development Finance Institutions (AADFI) together with the City of Karlsruhe, Germany presented the 2019 winners of the Global Sustainable Finance Awards (GSFA) on July 11, 2019 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) 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 and 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 Development Bank of the Philippines (DBP) for Best Innovation in Sustainable Financial Products and Services; Land Bank of the Philippines and Indonesia’s PT Sarana Multi Infrastruktur for Outstanding Sustainable Project Financing; and Nigeria’s Access Bank for Outstanding Business Sustainability Achievement.
Certificates of merit were also given to the following institutions: Export Import Bank India; Credit Guarantee Corporation of Malaysia; DFCC Bank, Alliance Finance, and National Development Bank (Sri Lanka); Alalay sa Kaunlaran, Inc. (Philippines); Crédit Agricole du Maroc (Morocco) and Ghana Export-Import Bank.
The Award is nicknamed, “The Karlsruhe Sustainable Finance Awards” in honour of the City of Karlsruhe which has supported the Awards since it started in 2012 and the Global Sustainable Finance Conference since its inception in 2011. More details on the GSF Awards in this link: https://eosd.org/ksfa.pdf