NCD shortlisted for Ethical Corporation Responsible Business Awards
15 April 2013. The Natural Capital Declaration (NCD) has been shortlisted by Ethical Corporation for its Responsible Business Awards.
The initiative, which is being considered in the Best Business/NGO Partnership category, aims to develop a suite of tools and frameworks to enable financial institutions to integrate natural capital into financial products and services.
The acknowledgement from Ethical Corporation is testimony to the ground-breaking work of the organisations behind the NCD in pushing natural capital higher up the agenda of the financial sector.
Financial institutions have considerable direct and indirect ecological footprints, through their own purchasing decisions, as well as through the activities of their customers. But they also have the means to support a transition to sustainable development by providing loans, equity, insurance and other financial products.
And while the finance sector as a whole finds itself in a difficult position with the ongoing banking and sovereign debt crisis in Europe, a growing body of evidence shows that natural capital factors are increasingly financially material to banks, investors and insurance firms.
The project is backed by 41 financial institutions, whose CEOs have signed the Declaration, as well as numerous other organisations who support the initiative. It is convened by a secretariat jointly run by the UNEP Finance Initiative and the Global Canopy Programme.
The awards ceremony takes place on 24 June in London.
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