Banco Real Wins Top Sustainable Banking Award from Financial Times
At the 2008 Sustainable Banking Awards, Brazilian bank Banco Real was named the Sustainable Bank of the Year, followed by Dutch firm Rabobank; awards were also presented for emerging markets, top sustainable deals and top sustainable investors, and the best bank for investing at the bottom of the pyramid.
At the third annual Financial Times Sustainable Banking Awards in London this week, Brazilian bank Banco Real took home two of the top prizes: the top Sustainable Emerging Markets Bank and the overall Sustainable Bank of the Year. The awards are given to banks and other financial institutions that demonstrate both leadership and innovation in incorporating triple-bottom-line considerations into their operations.
Banco Real was honored for its broad commitment to sustainability in financing. In addition to adopting development strategies like microcredit loans, the company also includes consulting services intended to guide customers in ways to use their finances to achieve both sustainability and financial goals. In a statement released about the award, the company said, "Even though it is difficult to objectively prove the relationship between sustainability and financial results, our results have improved year after year, and our performance has strengthened the bond with our clients and other stakeholders."
Judges for the awards, which included the Financial Times' business editor as well as leaders of financial advisory, responsible investment and sustainable development organizations, said of Banco Real's practices: "This is a bank that goes beyond all of the sustainable business principles (UNEP-FI, Global Compact, Equator) and applies sustainability practices across every aspect of its business."
Two new awards were also presented at the event, a one-day gathering addressing the theme, "How Sustainable is Sustainable Banking when the Bottom Line is Under Threat?". The award for Banking at the Bottom of the Pyramid was given to Bangladesh's ASA Bank, which currently provides microfinance services to nearly 7 million residents of that country. Another new prize, for Sustainable Investor of the Year, was awarded to E+Co, a U.S.-based nonprofit organization that invests in clean energy businesses around the globe.
Finally, the award for Sustainable Deal of the Year was given to a partnership project between Swiss investment firm BlueOrchard Finance and Morgan Stanley for the "BlueOrchard Loans for Development" program, which took microfinance to a new level by bringing together a wide international base of investors, swapping currencies into local denominations and distributed to 11 developing countries around the world.
Full details of the award and the conference are online at FTConferences.com.
Banco Real was honored for its broad commitment to sustainability in financing. In addition to adopting development strategies like microcredit loans, the company also includes consulting services intended to guide customers in ways to use their finances to achieve both sustainability and financial goals. In a statement released about the award, the company said, "Even though it is difficult to objectively prove the relationship between sustainability and financial results, our results have improved year after year, and our performance has strengthened the bond with our clients and other stakeholders."
Judges for the awards, which included the Financial Times' business editor as well as leaders of financial advisory, responsible investment and sustainable development organizations, said of Banco Real's practices: "This is a bank that goes beyond all of the sustainable business principles (UNEP-FI, Global Compact, Equator) and applies sustainability practices across every aspect of its business."
Two new awards were also presented at the event, a one-day gathering addressing the theme, "How Sustainable is Sustainable Banking when the Bottom Line is Under Threat?". The award for Banking at the Bottom of the Pyramid was given to Bangladesh's ASA Bank, which currently provides microfinance services to nearly 7 million residents of that country. Another new prize, for Sustainable Investor of the Year, was awarded to E+Co, a U.S.-based nonprofit organization that invests in clean energy businesses around the globe.
Finally, the award for Sustainable Deal of the Year was given to a partnership project between Swiss investment firm BlueOrchard Finance and Morgan Stanley for the "BlueOrchard Loans for Development" program, which took microfinance to a new level by bringing together a wide international base of investors, swapping currencies into local denominations and distributed to 11 developing countries around the world.
Full details of the award and the conference are online at FTConferences.com.
