The Financial Times has launched the 2009 edition of the FT Sustainable Banking Awards, the leading awards recognising banks and other financial institutions for leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.
Now in their fourth year, the awards-organised by the FT in partnership with IFC, a member of the World Bank Group-are all the more timely in light of the financial crisis, which has exposed flaws in traditional banking and investment models and intensified debate over the role of ethics and sustainability objectives in ensuring the financial industry's long-term health and competitiveness.
The crisis has also highlighted the continuing plight of the very poor and the increasingly urgent need to find solutions to the under-supply of basic needs such as energy, water and food alongside efforts to deal with the challenges of climate change.
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