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August 9, 2010

Co-operative Financial Services wins sustainability award

by Richard Kilner

Story link: Co-operative Financial Services wins sustainability award

The Co-operative Financial Services (CFS) has been given the FT Sustainable Bank of the Year award in recognition for its endeavours in promoting social and environmental banking.

CFS beat off 111 rivals, including HSBC, to claim the sustainability prize in front of an audience of business leaders from all over the world.

The award was given by a panel of elite financiers, and backed by the International Finance Corporation (IFC).

CFS was praised by the judges for its unwavering commitment to sustainability, and displaying ethical leadership over a prolonged, and profitable, period.

Chief Executive Neville Richardson described winning the award as an outstanding achievement for the firm, which earlier in the year declined a billion pounds worth of loans on ethical grounds.

Richardson added that the firm’s performance proved that the co-operative business model was as relevant now as it had ever been, and went on to say that CFS was strengthened by the recent merger with Britannia.

 

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