Banking on Sustainability
The past decade has seen a radical shift from viewing banks as far-removed from social and environmental impacts, to recognizing banks as the fulcrum of financing, and thus a key lever for achieving sustainability. The 2003 launch of the Equator Principles and the granting of the 2006 Nobel Peace Prize to microfinance pioneer Muhammad Yunus cemented this link. Now, banking best practice is shifting from minimizing negative impacts to advancing positive change.For example, Citi is partnering with Ashoka, a nonprofit that supports social entrepreneurship, to launch the Changemakers Competition. The award program seeks to identify innovative finance projects that promote economic and social justice. Image source : soxfirst.com > Continue.
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