This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IFC Launches Sustainable Banking Network For Regulators To Share Green-Credit Expertise

WASHINGTON, Dec. 6, 2012 /PRNewswire-USNewswire/ -- IFC, a member of the World Bank Group, has launched the Sustainable Banking Network to help bank regulators in emerging markets develop green-credit policies and environmental and social risk-management guidelines by sharing knowledge and technical resources.  

The network, led by IFC, is an informal group of bank regulators and banking associations. It will support members in their efforts to develop standards, policies and guidelines for environmental and social best practices in their countries' banking sectors. It was established in response to requests from several countries attending the first International Green Credit Forum in Beijing in May 2012 who asked IFC to help build a network of regulators who could share insights and experience.

"Environmentally and socially sustainable banking protects banks' assets, and presents business opportunities by opening up new financial product areas and markets," said Karin Finkelston, IFC Vice President for Asia Pacific. "Bank regulators play a key role in guiding the private sector in capitalizing on these business opportunities while ensuring societies' sustainable development. IFC takes a leadership role in supporting the network to help build capacity and partnerships for improved implementation of environmental and social standards." 

The initial exchange of ideas will take place on IFC's member-only web platform, followed by annual meetings hosted by each member country and bi-lateral exchanges between member countries. To date, the network has members from Bangladesh, Brazil, China, Indonesia, Lao PDR, Mongolia, Nigeria, Peru, Thailand and Vietnam .

Several network members attended IFC's Performance Standards Community of Learning Forum in Washington, D.C., this week. The event sought to help financial institutions strengthen their environmental and social risk-management systems, build partnerships, and scale up sustainable banking.

"Green policies are essential for sustainable growth and in this regard the financial sector can be the catalyst in driving responsible practices and strategies for the companies it lends to. This is especially the case in China where we have taken significant steps in developing policy guidance and encouraging banking institutions to adopt best practices for environmental and social risk mitigation and green lending," said Ye Yanfei, Deputy Director General of the Statistics Department, China Banking Regulatory Commission.

SOURCE IFC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs