Asian banks recognized for sustainability

Six Asian financial institutions have reached the short list for this year’s FT Sustainable Banking Awards, the leading global awards for triple bottom line banking.

ASA, of Bangladesh, and India’s ICICI Group are on the short list for the Banking at the Bottom of the Pyramid award, and the Aavishkaar India Micro Venture Capital Fund is on the list for the Sustainable Investor of the Year title.

The regional short list for the Sustainable Emerging Markets Bank of the Year award contains ABN Amro India, the Industrial Bank, from China, and the Indian YES Bank.

The awards are run by the Financial Times and the International Finance Corporation, an arm of the World Bank Group. The aim is to recognize banks and other financial institutions that have shown leadership and innovation in building social, environmental and corporate governance principles into their operations.

At 182 the number of entries this year was 20 per cent higher than the 151 submitted in 2007. The number of banks applying was 25 per cent higher – up from 103 to 129.