Banco Real of Brazil was named Sustainable Bank of the Year and also took the overall Emerging Markets prize in the 2008 FT Sustainable Banking Awards, presented by the Financial Times and IFC, a member of the World Bank Group.
Now in their third year, the awards recognise banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.
"When we initiated the process of inserting sustainability into our businesses, our aim was to build a new bank for a new society, and reinforce the role of banks generally as agents for economic and social development," Banco Real said in a statement. "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."
This year’s winners were selected from a record 182 entries from 129 institutions across 54 countries.
"The winners of the FT Sustainable Banking Awards are leading the way in meeting combined social, environmental and financial goals. With financial institutions around the world re-assessing risk and opportunity under increasingly challenging circumstances, we hope these awards will continue to encourage more transparent and sustainable practices in their lending, financing and investing," said Lionel Barber, editor of the Financial Times.
The 2008 winners and runners-up in each category are:
Sustainable Bank of the Year
- Winner: Banco Real, Brazil
- Runner-up: Rabobank, Netherlands
Sustainable Emerging Markets Bank of the Year
- Winner: Banco Real, Brazil
- Regional winner Africa/Middle East: Nedbank, South Africa
- Regional winner Asia: YES Bank, India
- Regional winner Eastern Europe: Industrial Development Bank of Turkey (TSKB)
- Regional winner Latin America: Banco Real, Brazil
Sustainable Deal of the Year
- Winner: BlueOrchard Finance, Switzerland/Morgan Stanley, US
- Runner-up: Glitnir Bank, Iceland
Banking at the Bottom of the Pyramid
- Winner: ASA, Bangladesh
- Runner-up: Wizzit, South Africa
Sustainable Investor of the Year
- Winner: E+Co, US
- Runner-up: SAM Sustainable Asset Management, Switzerland
Judges for the awards were:
- John Willman, UK Business Editor, Financial Times (co-chair)
- Rachel Kyte, Vice President, Advisory Services, IFC (co-chair)
- David Harris, Manager, Responsible Investment, FTSE Group
- Richard Laing, Chief Executive, CDC Group Ltd
- Jonathan Lash, President, World Resources Institute (WRI)
- Elizabeth Littlefield, CEO, Consultative Group to Assist the Poor (CGAP)
- Tessa Tennant, Co-founder, Association for Sustainable and Responsible Investment in Asia (ASrIA)
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