Winner – Banco Real, Brazil

The bank says: “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. We began by substantially reducing the environmental impact of our activities and looking at our products and services as a means of transforming society positively. We have innovated our product portfolio with solutions such as carbon credits, and fostered local development through our microcredit lines. We now offer customised financial solutions, combining financing with advice on how to adopt environmental and social practices. We have also started to share our knowledge with clients and suppliers in a structured manner to shorten the path to be taken by companies towards sustainable goals. 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.”

The judges’ view: “It’s in their DNA. A radical vision for sustainability in Latin America. A bank is only as sound as the society that surrounds it.”

Runner-up – Rabobank, Netherlands

The bank says: “Rabobank Group’s decade of corporate sustainability performance has been internationally guided, successfully implemented and frequently publicly rewarded. Corporate sustainability has become part of the Group’s overall strategy and is based on its cooperative identity. Focus on customer interest and an open eye on society at large have played a dominant role since Rabobank’s formation more than 100 years ago. The Group emphasises the need to develop a long-term perspective, a flexible design and persistent use of CSR in its corporate policy. Activities include an ongoing global outlook on societal trends and issues, related monitoring and analysis, stakeholder dialogue and reporting of CSR performance according to international guidelines and beyond. Rabobank Group’s determination to reach and hold a top CSR position worldwide initiates continuous processes of significant innovation in its financial products, services and processes. CSR has become a key business driver and has brought the Group to the frontline of developments in this field.”

The judges’ view: “The issues that are core to Rabobank’s business have become front and central to the development agenda. Their vision is leadership in meeting these challenges.”

Sustainable Emerging Markets Bank of the Year

Winner – Banco Real, Brazil

The judges’ view: “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.”

Emerging Markets Regional Leadership prizes:

Africa/Middle East – Nedbank, South Africa

The bank says: “Sustainability has consistently formed part of the business and strategic focus for Nedbank, underpinning our long-term targets. Nedbank has taken this approach not only because it is the right thing to do, but also in recognition of the financial and reputational benefits. Nedbank continues to demonstrate commitment to participation in sectoral, national and international initiatives, and has taken a leadership position in the emerging market space, where there are many other, and sometimes apparently conflicting, challenges to be met. Our 2007 highlights included implementation of our Climate Change Programme, continued progress with Equator Principles implementation, continued listing on the JSE SRI, Dow Jones SRI and CDP leadership indices, participation in UNEP FI, and inclusion of sustainability responsibilities in the 2008 balanced scorecards. There are still numerous steps to be taken on our sustainability journey; however we remain truly committed to the long-term sustainability of our business operations, our economy, our environment and our people.”

The judges’ view: “They appear not only to have adopted the Equator Principles but to have genuinely integrated them into the management of the bank.”

Asia – YES Bank, India

The bank says: “YES Bank, India’s new age private sector bank, is an outcome of the professional entrepreneurship of its founder, Rana Kapoor, and his management team, to establish a high quality, customer-centric, knowledge-driven, private Indian bank catering to the ‘Future Industries of India’. The only bank to be awarded a Greenfield license by the Reserve Bank of India in the last 14 years, YES Bank has developed into a full- service commercial bank that has steadily built momentum across all its business lines in the short span of three-and-a-half years. As a Public Trust Institution, the bank also takes responsibility for augmenting sustainable development in India and has therefore adopted principles of sustainability, encapsulated within its business through its Responsible Banking strategy. This key strength and differentiating feature, going beyond the traditional realm of banking, has been embedded in the DNA of YES Bank, which finds business solutions to social issues.”

The judges’ view: “A bank with an ambitious vision coupled with concrete targets across a portfolio from clean-tech and SRI to structured microfinance products. Evident promise, transformational vision – next step is real delivery.”

Eastern Europe – Industrial Development Bank of Turkey (TSKB)

The bank says: “Since its foundation in 1950, Industrial Development Bank of Turkey (TSKB) has contributed significantly to Turkey's sustainable development. The bank has pioneered the adoption of corporate governance and socially responsible policies in the country and been for decades the local partner for major international socially responsible financial institutions. It also has a reputation as a very effective and responsible distributor of global funds to sustainable development projects. TSKB not only performs detailed appraisals of the possible environmental effects of all the projects it finances, but also disburses many environmental loans specifically designed to finance sustainable, environment-focused investments. In renewable energy loans alone, with 53 independent projects, TSKB is by far the local leader in terms of number of projects financed. As the first and only Turkish-owned bank to have an ISO14001 certification for its environmental management systems, TSKB aims to use every opportunity to create environmental and social value-added through innovative financial solutions and social responsibility projects.”

The judges’ view: “A bank with momentum that has been building its renewable energy portfolio for the last five years and is now clearly a leader in the region.”

Latin America – Banco Real, Brazil

Winner - BlueOrchard Finance, Switzerland/Morgan Stanley, US

The deal: “BlueOrchard Loans for Development (BOLD) 2007 is a groundbreaking microfinance transaction. It provides capital for microfinance institutions to make loans to approximately 70,000 low-income entrepreneurs while adding to the international momentum of this rapidly growing asset class. The combination of innovative structuring and a first time rating by a major international rating agency (Standard & Poor’s) attracted a wide institutional investor base. Landmark currency swaps allowed nearly 60 per cent of the loans in BOLD 2007 to be in local currencies, including Mongolian tugriks and Peruvian new soles. The capital raised provided loans totaling the equivalent of US$106.7 million to 20 microfinance institutions in 11 developing countries in Latin America, Eastern Europe, Africa and Asia. BlueOrchard Finance SA originated and is servicing the loans. Morgan Stanley structured and placed the notes and is the currency swap provider.”

The judges’ view: “If the CDO market is drying up, this is just the type of product we need to bring it back to life.”

Runner-up - Glitnir Bank, Iceland

The deal: “Glitnir Bank is a leading financial partner to the global geothermal energy industry. Building on over 70 years of Icelandic utilisation of geothermal energy, Glitnir has a unique industry background with a clear specialised industry focus on sustainable energy, particularly geothermal energy. The “Resource Verification Loan” for the Hudson Ranch I project of CHAR LLC, was unique in that it funded the initial drilling for this 50MW geothermal project in California. There is a lack of capital available to projects in the early stages of geothermal development, which has constrained its growth. Glitnir has filled this void, offering a hybrid mezzanine financing vehicle to help push the development of geothermal power plants forward. In the years to come this product will help other developers finance these critical first steps in their geothermal projects. Around 80 countries in the world have a geothermal energy potential for heating or electricity generation.”

The judges’ view: “A case study in comparative advantage. Geothermal: they know how to do it and are claiming a global leadership role.”

Banking at the Bottom of the Pyramid

Winner – ASA, Bangladesh

The institution says: “ASA, which has been working for the cause of poverty alleviation since 1978, has designed its own microfinance model – the ASA Cost–effective and Sustainable Microfinance Model -- which has been adopted by many organisations in different countries to achieve the best results within the shortest possible timeframe. ASA has successfully extended its reach, with 3,333 branches and 25,125 staff (as of December 2007), providing services to more than 6.7 million poor people in 72,204 villages in Bangladesh. ASA implements multi-dimensional products, such as small loans (male and female), small business loans, small entrepreneur lending, agri-business loans, education loans, interest-free flood and rehabilitation loans, etc. ASA maintains savings programmes and members’ security funds. Members are allowed to withdraw their savings at will. ASA also provides medical assistance to the poor for serious ailments, including cancer.”

The judges’ view: “Reaching 6.7 million poor people, you can’t shake a stick at that. ASA has a highly efficient delivery model, which they started in Bangladesh and refined and are now migrating it to Africa.”

Runner-up – WIZZIT, South Africa

The company says: “WIZZIT was launched in 2005. Our vision is to bank the unbanked of the world utilising mobile technology. Today WIZZIT is recognised globally as pioneers in the field of mobile banking and making economic citizens of those previously excluded from the banking system. WIZZIT started its endeavours in South Africa and is in the process of launching in Zambia and Romania, with high demand from many other emerging markets. WIZZIT utilises the mobile phone and a network of WIZZkids (all previously unemployed) to open accounts instantaneously 24/7. Not only are WIZZIT customers able to save, but through their cellphone make payments, buy prepaid airtime and electricity, send money home, pay accounts and check balances -- thus eliminating the high cost, dangers and inconvenience of cash. WIZZIT is a proponent of the Bank Lead model and through its partner banks complies with all banking regulations.”

The judges’ view: “They can teach the developed world a thing or two about banking.”

Sustainable Investor of the Year

Winner – E+Co, US

The institution says: “E+Co invests in small businesses that bring cleaner energy to the poor. Our investments tackle poverty and climate change while generating financial returns. By providing business support services and direct capital investment, E+Co empowers local entrepreneurs who supply clean, modern and affordable energy to households, businesses and communities in developing countries. For nearly 15 years our disciplined, market-driven approach has offset more than 3.3 million tons of carbon dioxide emissions and provided access to energy to more than 4 million people throughout Africa, Asia and Latin America. There are tremendous opportunities to create a cleaner, healthier and more productive planet; all we have to do is invest in them.”

The judges’ view: “You hear talk about boutique investing, about SME investing, about technology investing. E+Co are bringing all three together. An inspiration.”

Runner-up – SAM Sustainable Asset Management, Switzerland

The institution says: “SAM Sustainable Asset Management AG (SAM) was founded in 1995 as an independent asset management company focusing exclusively on sustainability investments. SAM has grown to become one of the world’s leading institutions in this field. Its clientele comprises banks, insurance companies, pension funds, family offices and private investors. SAM has a comprehensive portfolio of core and theme-based products in the areas of sustainable energies, water, materials, healthy living and climate. It also offers institutional investors a broad range of client-oriented, mandate-based services backed by its proprietary sustainability research. SAM seeks, identifies and values leading sustainability-focused companies based on company-specific sustainability criteria. This process represents the foundation of SAM’s investment philosophy. The firm’s expertise and unique research methodology is based on its own independent research team and an active worldwide sustainability network, coupled with one of the world’s largest corporate sustainability databases. SAM is headquartered in Zurich and present in Australia and North America. For more information, go to www.sam-group.com .”

The judges’ view: “They are the pioneers and they continue to innovate.”