IFC
IFC (International Finance Corporation), the private sector arm of the World Bank Group, issued today a publication entitled "Banking on Sustainability," which demonstrates that banks that integrate environmental, social and governance concerns into their business strategy and seek out opportunities in those fields add value to their business.
The publication provides practical examples of 14 financial institutions in 12 countries that have taken concrete steps to integrate sustainability into their policies, practices, products, and services.
"While detailing the evidence of potential benefits for banks in integrating sustainability into their business strategy, the report reveals a dramatic shift in banks’ awareness of these benefits," said Rachel Kyte, IFC Director of Environment and Social Development.
"There are real opportunities for banks in reaching previously unserved segments of the market, including women entrepreneurs or energy efficiency projects," said Jyrki Koskelo, IFC Director for Global Financial Markets. "The publication provides a tool for banks to recognize these opportunities."
*Implemented social and environmental management systems
*Developed innovative financial products to expand their business into areas related to social and environmental sustainability.
*Reaped positive business impact by integrating social and environmental considerations into their operations and investment decisions.
The publication provides practical examples of 14 financial institutions in 12 countries that have taken concrete steps to integrate sustainability into their policies, practices, products, and services.
"While detailing the evidence of potential benefits for banks in integrating sustainability into their business strategy, the report reveals a dramatic shift in banks’ awareness of these benefits," said Rachel Kyte, IFC Director of Environment and Social Development.
"There are real opportunities for banks in reaching previously unserved segments of the market, including women entrepreneurs or energy efficiency projects," said Jyrki Koskelo, IFC Director for Global Financial Markets. "The publication provides a tool for banks to recognize these opportunities."
*Implemented social and environmental management systems
*Developed innovative financial products to expand their business into areas related to social and environmental sustainability.
*Reaped positive business impact by integrating social and environmental considerations into their operations and investment decisions.
IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries. IFC supports sustainable private sector companies and other partners in generating productive jobs and delivering basic services, so that people have opportunities to escape poverty and improve their lives.
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