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Banking on Sustainability: Research Methodology and Survey Results (March 2007)

Banking on Sustainability: Research Methodology and Survey Results (March 2007)

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Published by IFC Sustainability
IFC's Banking on Sustainability report shows evidence of the potential benefits of adopting sustainability as a business strategy. It also shows a dramatic shift in banks' awareness of these benefits. Banks can tap vast benefits by reassessing their business practices and engaging in sustainability-oriented risk management and product development. IFC has pioneered new business models — for example in sustainable energy and banking to underserved groups — and is helping pave the way for other banks in emerging markets.
IFC's Banking on Sustainability report shows evidence of the potential benefits of adopting sustainability as a business strategy. It also shows a dramatic shift in banks' awareness of these benefits. Banks can tap vast benefits by reassessing their business practices and engaging in sustainability-oriented risk management and product development. IFC has pioneered new business models — for example in sustainable energy and banking to underserved groups — and is helping pave the way for other banks in emerging markets.

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Published by: IFC Sustainability on Jun 28, 2009
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08/12/2014

I.

RESEARCH METHODOLOGY AND SURVEY RESULTS
The Research Context  
This report focuses on sustainable banking as one of the fastest changing segments of sustainable finance.  The research  done to support this report had several objectives.  First, it had to capture the overall picture of the emerging market  banking sector with regard to its view on social and environmental issues and integration of sustainability practices in  business decisionmaking.  Second, it had to document the concrete experience of emerging market banks in successfully  implementing  social  and  environmental  management  system,  and  explore  their  business  rationale  for  pursuing  opportunities  related  to  sustainability.    Third,  it  had  to  determine  the  role  of  IFC  capacity  building  programs  in  improving  understanding  and  promoting  implementation  of  sustainable  finance  principles  in  emerging  markets.   Fourth,  it  had  to  build  and  expand  the  findings  of  the  previous  research  on  this  subject,  summarized  in  IFC’s  2003  publication, Beyond Risk.  In the view of these objectives, the research methodology included two components:    Stage 1.  Administration of a survey, based on an online questionnaire to all financial institutions that had participated  in  IFC  Competitive  Business  Advantage  (CBA)  workshops  from  July  2002  to  September  2005.  These  institutions  had  already been introduced to the concept of sustainable finance through the workshops.    Stage  2.    Collection  and  analysis  of  best  practice  examples  of  emerging  market  banking  institutions  that  had  participated in the workshops. 

The Questionnaire-based Survey
Scope of the Questionnaire The issues covered in the questionnaire included:    ⁻ The respondent’s professional level and functional role   ⁻ Profile of the financial institutions, including industries financed, domestic or foreign status, main lines of  business, average number of employees, value of assets, transaction size  ⁻ Main sources of social and environmental risks for the financial institutions and its clients  ⁻ Views of financial institutions on the ways to capitalize on sustainability opportunities  ⁻ Key reasons to consider social and environmental sustainability issues  ⁻ Implementation of social and environmental sustainability standards, tools, and management systems  ⁻ Barriers to implementation  ⁻ Key business impacts of considering social and environmental sustainability issues  ⁻ Demand for IFC assistance on sustainability issues, such as further information, technical assistance and  advisory services, financial support, product offerings in sustainability areas, and providing means to enhance  sustainability learning.  Respondent Profiling and Generation of a Distribution List To meet the goals of this report and expand the findings of the Beyond Risk research, the 2005 survey included financial  institutions  that  participated  in  IFC’s  Competitive  Business  Advantage  workshops  from  October  2002  to  September  2005.  To ensure the accuracy of the survey data, representatives of IFC who attended these workshops were excluded  from the survey.   Survey Administration The survey was administered through a professional online engine that allowed for easy distribution, high interactivity  of the questionnaire depending on individual responses, and effective tracking of responses.  An invitation to complete  a survey was sent out through the online engine.  The invitation then directed survey respondents to a Web site where  they could view and complete the questionnaire.  The engine also provided tools for initial analysis of survey results.  

1

To ensure a higher response rate, the questionnaire was translated and distributed in Russian and Spanish to  respondents from Russian‐ and Spanish‐speaking countries.  Telephone calls were made to the entire survey  distribution list to ensure that prospective respondents had received the questionnaire and to address any question or  technical issues they might have.  Sample Size and Response Rate The initial survey distribution list consisted of 498 potential respondents.  Despite the obvious advantages of an online  survey, a common technical obstacle is inaccessibility of certain e‐mail addresses because of server failures or the fact  that these addresses no longer exist.  In this case, 121 responses were received and 84 e‐mail addresses on the original  list were unreachable.  Therefore, the overall response rate was 24 percent, if technical failures are not taken into  account.  However, the response rate increases to 29 percent if the calculation is based on the number of actual survey  recipients (total number of survey invitations sent less the number of “bounce‐back” e‐mail addresses).  

 

Best Practice Examples
Best  practice  examples  were  collected  from  17  financial  institutions,  whose  representatives  have  participated  in  Competitive Business Advantage workshops.  For the selection process, the following criteria were applied:  • Focus on the banking sector: Since this study has a specific focus on the banking sector, institutions had to be  engaged in a variety of activating related to commercial banking, such as lending, leasing, and/or commercial  microfinance.  • Focus on regional diversity: To demonstrate the business case in all emerging markets, the choice of best practice  examples was also diversified by region.  • Focus on expertise in sustainability management: The examples had to be from financial institutions that had made  concrete steps toward implementing a SEMS.  • Focus on the business case for innovation:  Financial institutions had to align sustainable innovation with their  business goals and strategy.  • Focus on diversity of sustainability areas:  Examples had to cover innovations in a wide variety of sustainability‐ related areas discussed in this report, such as energy efficiency, renewable energy, biodiversity conservation,  and social finance.  Representatives of these financial institutions were contacted and personal interviews were conducted by phone.  The  interviews focused on:  • Business goals of financial institutions  • Recent market challenges they faced  • Social and environmental management practices used to identify and mitigate risks and/pursue opportunities  • Elements of the SEMS developed by financial institutions and their integration into corporate management  systems, such as risk management, human recourse management, monitoring and evaluation, and reporting  • Concrete examples of sustainability‐related investment projects; the focus included both projects that invest  directly in sustainability areas (such as energy efficiency, renewable energy, and biodiversity conservation) and  “business as usual” projects that included sustainability‐related components that led to overall improvement in  projects (such as risk reduction, cost reduction, revenue increase)   • Overall financial and nonfinancial results achieved by a financial institution as a result of considering social and  environmental issues  Additional information for the best practice examples was also collected through:  • Documentation and additional information supplied by financial institutions  • Official information available through the financial institution’s Web site and financial and nonfinancial reports  (such as sustainability reports)  • Internal IFC documents and project files  • Personal interviews with IFC investment staff 

2

II. SURVEY RESULTS
 
The 2005 IFC survey collected and analyzed data from over a hundred emerging markets financial institutions in  43 countries.  While the analysis in this publication focused on survey results reported by commercial banks, the  quantitative  data  that  follows  represents  aggregated  results  for  all  financial  institutions  that  participated  in  the  survey, unless otherwise stated. 

Respondent Profile
  All Respondents   Fifty‐five percent of financial institutions surveyed were domestic in their respective countries, 27 percent were  foreign, 4 percent were international financial organizations like IFC, and 14 percent represented other forms of  ownership (such as regional banks and domestic banks with foreign capital).    Sixty percent of the institutions were IFC clients; 25 percent were not.  The remaining 15 percent had other forms  of affiliation with IFC, such as partnerships.   
Types of Financial Institutions Surveyed (percent of respondents)
Developme nt bank/Multilat eral organization 7

Professional Level of Survey Participants (percent of respondents)
Risk Manager 3 Other 5 Senior Manager 36

Other 13

Commercial bank 41

Investment Officer 4 Environment al Specialist 18

Private equity 21

Microfinance 6

Leasing Insurance 0 7

Investment bank 5

Business Developmen t Officer 10

Credit/Loan Officer 24

Figure 1 
Regional Distribution of Financial Institutions Surveyed (percent of respondents)
Sub Saharan Africa 17 Middle East and North Africa 4

Figure 2 
Main Sectors Financed
Domestic general manufacturing Agriculture Infrastructure Tourism Extractive industries Health and Education Hi-tech Trade Other

 

63 50 49 33 31 25 20 14 13 8 7 4
0 10 20 30 40 50 60 70

Rest of the World 7 Latin America 32

Asia 2

Southern Europe and Central Asia 19

Central and Eastern Europe 19

Biodiversity Construction and Real Estate Finance

percent of respondents

Figure 3 

Figure 4 

3

Commercial Bank Respondents   Sixty‐seven percent of commercial banks surveyed were domestic in their respective countries, 21 percent were  foreign, 12 percent were international banks and 14 percent represented other forms of ownership (such as  regional banks and domestic banks with foreign capital).    Seventy‐seven percent of commercial banks were IFC clients; 14 percent were not.  The remaining 9 percent had  other forms of affiliation with IFC, such as partnerships.   
Regional Distribution of Commercial Banks Surveyed (percent of respondents) Sub Rest of the Saharan World Asia Africa 5 0 12 Middle East and North Africa 2

Professional Level of Survey Participants, Commercal Banks (percent of respondents) Investment Officer 0 Environmen tal Specialist 14 Risk Manager 8 Other 5

Latin America 23

Senior Manager 28

Southern Europe and Central Asia 30

Central and Eastern Europe 28

Business Developmen t Officer 11

Credit/Loan Officer 34

Figure 5 
Main Lines of Business, Commercial Banks

Figure 6 

 

Corporate finance Consumer finance Project finance SME finance Housing finance other
‐ 20

76 71 64 62 55 21
40 60 80 100

percent of respondents who mentioned a business line

Figure 7 

 

4

Reasons Why Banks Consider Social and Environmental Issues
Virtually all the survey respondents (97 percent) reported that they consider social and environmental issues  either by managing risks (40 percent), developing business opportunities, or both.  Some 57 percent said that their  banks consider social and environmental opportunities. 

 
Key Reasons Why Banks Consider Environmental and Social Issues
Increased credibility and gain in reputation Demand by investors Increased value to stakeholders Lower risk and better returns Bank/clients facing liability claims Demand by clients Other Nonperforming loan experience
0 10

66 57 51 40 15 13 13 10
20 30 40 50 60 70

percent of respondents

  Figure 8 

 

How Financial Institutions Perceive Social and Environmental Risks
The following figures demonstrate how financial institutions that responded to IFC 2005 survey perceive  social and environmental risks for their clients and for themselves. 

Banks’ Perceptions of Key Social and Environmental Risks Facing Their Clients
Environmental legal issues Health and safety for workers Disruption of operations Loss of market share because of environmental regulations Market devaluation because of social or environmental liabilities Loss of liability insurance coverage Other
0

76 72 70 46 26 15 0
10 20 30 40 50 60 70 80

percent of respondents Figure 9 

5

 

Key Social and Environemntal Risks Indentified by Financial Insitutions

Reputational risk / Negative publicity w ith customers, shareholders and the general public Credit risk (defaults, payments rescheduling) Nonperforming loans/investments/leases Security (devalued collateral) Loss of financing from international financial institutions Liability for clean up of contaminated property/collateral Reduced access to capital from private financial institutions/international bond market Potential civil or criminal liability for negligence Loss of depositors or retail clients Other
0

76 59 45 39 38 32 32 31 11 3
1 0 20 30 40 50 60 70 80

percent of respondents

Figure 10 

 

Main Areas of Social and Environmental Business Opportunities
   The following figure shows areas where financial institutions that responded to IFC 2005 survey see    opportunities to benefit from considering social and environmental issues 

Main Areas of Social and Environmental Business Opportunities
Developing business in sustainable areas Getting access to new markets Providing loans for environmental projects Improving access to financing from international financial institutions Providing advisory services/loans for ecoefficiency and cleaner production Attracting improved terms of insurance Other
0

66 59 55 55 44 11 2
10 20 30 40 50 60 70

percent of respondents

Figure 11 

6

Implementation of Social and Environmental Sustainability Management Practices
Eighty‐two percent of financial institutions that answered the survey reported that they used one or several social  and environmental procedures before participating in the IFC Competitive Business Advantage (CBA)  workshops. The types of procedures and tools used are presented in the following figures. Sixty‐eight percent  reported that their institutions have developed a formal SEMS following their participation in a CBA workshop.  Twelve percent reported that their financial institutions have also developed financial products in sustainable  areas.   
Use of Social and Environmental Standards Prior to IFC Workshops

Use of Social and Environmental Tools Prior to IFC Workshops

Local social and environmental regulations IFC's exclusion list

Site visit

77 72 34 11 13 9
0 20 40 60 80 10 0

85 54 41 37 15
0 10

Environmental impact Environmental audit Environmental liability Cleaner production Other

IFC's project categorization

IFC's safeguard policies

Other
20

Percent of respondents

30

40

50

60

70

80

90

Perent of respondents

Figure 12 

Figure 13 

Elements of Environmental and Social Sustainability Management System Developed

Identified social and environmental risks and opportunities Developed procedures to integrate social and environmental considerations into project screening and client evaluation Articulated objectives for social and environmental risk management Developed an action plan and/or allocated resources system implementation Designed a formal sustainability policy Established a monitoring and evaluation procedure for social and environmental management Identified internal training needs for environmental and sustainability management Specified criteria to use for reviewing and screening investments (e.g. exclusion lists, local environmental regulations) Held media events and/or undertook reporting initiatives to communicate sustainability achievements both internally and to stakeholders Defined and assigned responsibilities for system implementation Created an environment/sustainability department or unit Identified environmentally related business opportunities using business case matrix Established incentive schemes to motivate the investment officers to pay attention to social and environmental issues Nominated board representative responsible for social and environmental sustainability
0 1 0

75 58 48 41 38 36 35 30 28 25 22 19 12 12
20 30 40 50 60 70 80

Percent of respondents

Figure 14 

7

                                                                 

Financial Products in Sustainable Areas Developed

Other Renewable energy finance Environmental venture capital Environmental credit cards Cleaner production technology Carbon emission trading schemes Sustainable leasing Environmental loan for SMEs Sustainable equity fund Environmental liability insurance Green mortgages Green investment funds
0 5 10 15

18 18 12 12 24 6 12 41 6 0 6 24
20 25 30 35 40 45

Percent of respondents

Figure 15 

Perceptions of Barriers to Implementing Social and Environmental Sustainability Management Practices and System
  Financial institutions that considered social and environmental issues in their management practices reported a  number of barriers to implementation.  The survey results varied depending on whether financial institutions had  implemented (or were in the process of implementing) a SEMS or had not yet implemented a formal social and  environmental sustainability the system.   
Perceptions of Barriers to Implementation, Financial Institutions that Had Not Implemented a Social and Environmental Management System Lack of best practice cases about social and environmental management for financial institutions in the emerging markets No qualified environmental consultants to advise clients Cost of developing and implementing internal guidelines and procedures is too high Lack of know-how/in-house capacity Senior management does not see the need for social and environmental risk management Other Potential inconsistencies between government regulations and IFC/organization social and/or environmental requirements No qualified environmental consultants to advise your institution It is not standard financial practice The belief that there is no business gain Customers do not demand it Concerns on how shareholders will view this change 49 35 32 30 24 24 19 19 19 8 8 8 Perceptions of Barriers to Implementation, Financial Institutions that Had Implemented a Social and Environmental Management System 45 26 35 43 17 12 25 11 18 15 0 11

Table 1 

8

Business Impact of Considering and Managing Social and Environmental Issues
Most of the financial institutions that responded to the survey—81 percent—reported that positive changes had  resulted from their steps to integrate social and environmental sustainability issues in their business, either by  implementing a formal SEMS or using other procedures. About a quarter of these respondents (26 percent)  perceived these changes as significant.  Not a single respondent reported a negative change from considering  social and environmental issues.      These figures varied for financial institutions that considered social and environmental risks only as opposed to  considering both risks and sustainability‐related opportunities.  While 79 percent of respondents whose financial  institutions considered risks only reported a positive change in their business, this figure was higher (84 percent)  for those who considered both risks and opportunities.  Notably, only 21 percent of respondents whose  institutions considered risks only perceived this change to be significant compared to 33 percent for those who  considered both.   

 
                                   

Benefits of Considering Social and Environmental Issues
Increased revenues Improved community relations Reduced risk Improved access to international financing Improved brand value and reputation Cost savings Better quality of work Developed new business Developed new products and services Other
0

59 50 41 39 29 13 9 7 4 2
10 20 30 40 50 60 70

Percent of respondents

Figure 16 

IFC Assistance Requested
All Respondents   Most financial institutions (85 percent) that responded to the survey indicted that they would like to receive  further assistance from IFC on social and environmental sustainability issues.  The type of assistance requested  was distributed as follows:  ⁻ Providing technical assistance and advisory services (82 percent)  ⁻ Providing information  (79 percent)  ⁻ Providing means to enhance sustainability learning  (66 percent)  ⁻ Providing sustainability‐related business opportunities and new products (57 percent)  ⁻ Providing financial resources (54 percent).  The figures below break down the preferences within these categories.   

9

Technical Assistance and Advisory Services
Training staff in environmental risk management and sustainability opportunities Advanced workshops for implementing performance-focused social and environmental management system Advice on how to identify the risks and determine what insurance is required Advisory services for sustainability business development Technical assistance for IFC's sustainability products Training local consultants to assist clients In-house support on social and environmental management system implementation Advice/assistance on how to incorporate insurance requirements into the financing agreements Other 0

76 61 57 51 49 44 39 32 1
10 20 30 40 50 60 70 80

Percent of respondents

Figure 17   
Informational Support
Industry risk briefings: provide updated information on international risk/opportunities by sector Market briefings: signaling environmental value-added to regional analysts, raters, media, central banks) Country-specific sustainability topics Sector strategies (e.g. sustainability in auto industry) Private Equity/Venture Capital and Sustainability Socially Responsible Investing (SRI) Share insurance market intelligence in each country (local players, availability of coverage pricing etc.) Other 0

76 62 61 47 43 43 33 6
10 20 30 40 50 60 70 80

Percent of respondents

Figure 18                                       
Means to Enhance Sustainability Learning
Dedicated web-page for sustainability in the financial sector Practical tools (ex. Software for environmental assessments interactive CD-Rom) Newsletter for wide distribution to workshop parcitipants

 
Most useful Less useful

14 16 36 55 54 51 51 47
50 60 70

77 76

Directory of sustainability companies in emerging markets Directory of sustainability suppliers in emerging markets

34 36 38 38
0 10 20 30 40

-On-line direct learning
Create a networking platform between IFC workshop participants

80

90

Percent of respondents

Figure 19 

10

Sustainability-related business opportunities and new products Agri-business Energy Efficiency Finance Renewable Energy Eco-tourism Clean Technologies Bio-diversity conservation Carbon Finance Other
0

Financial Assistance

74 60 57 55 52 40 36 4
1 0 20 30 40 50 60 70 80

Debt Partial Risk Guarantees Non-reimbursable Grants Equity Reimbursable Grants Other
0

56 53 43 37 30 7
1 0 20 30 40 50 60

Percent of respondents

Percent of respondents

Figure 20 

Figure 21 

Commercial Bank Respondents Among commercial banks that responded to the survey, 86 percent indicted that they would like to receive  further assistance from IFC on social and environmental sustainability issues.  The type of assistance requested  was distributed as follows:  ⁻ Providing means to enhance sustainability learning (73 percent)  ⁻ Providing information  (70 percent)    ⁻ Providing technical assistance and advisory services  (68 percent)  ⁻ Providing sustainability‐related business opportunities and new products  (51 percent)  ⁻ Providing financial resources  (49 percent)  The figures below break down the preferences within these categories. 

 
Technical Assistance and Advisory Services: Commercial Bank Response
Training staff in environmental risk management and sustainability opportunities Advanced w orkshops for implementing performance-focused social and environmental management system Advice on how to identify the risks and determine w hat insurance is required Advisory services for sustainability business development Technical assistance for IFC's sustainability products Training local consultants to assist clients In-house support on social and environmental management system implementation Advice/assistance on how to incorporate insurance requirements into the financing agreements Other 0

72 66 63 59 44 44 34 22 0
10 20 30 40 50 60 Percent of respondents 70 80

Figure 22 

 

11

Informational Support: Commercial Bank Response
Industry risk briefings: provide updated information on international risk/opportunities by sector Market briefings: signaling environmental value-added to regional analysts, raters, media, central banks) Country-specific sustainability topics Sector strategies (e.g. sustainability in auto industry) Private Equity/Venture Capital and Sustainability Socially Responsible Investing (SRI) Share insurance market intelligence in each country (local players, availability of coverage pricing etc.) Other
0

88 58 55 55 33 33 30 6
1 0 20 30 40 50 60 70 80 90 1 00

Percent of respondents

Figure 23 
Most useful

Means to Enhance Sustainability Learning: Commercial Bank Response
Practical tools (ex. Softw are for environmental assessments interactive CD-Rom) Dedicated w eb-page for sustainability in the financial sector New sletter for w ide distribution to w orkshop participants Directory of sustainability companies in emerging markets On-line direct learning Create a netw orking platform betw een IFC w orkshop participants Directory of sustainability suppliers in emerging markets

Less useful

82 15 77 24 59 38 47 47 47 47 44 53 41 53

0

10

20

30

40

50

60

70

80

90

Percent of respondents

Figure 24 

 
Sustainability-related business opportunities and new products: Commerical Bank Response
Agri-business Energy Efficiency Finance Renewable Energy Eco-tourism Clean Technologies Carbon Finance Bio-diversity conservation Other
0

Financial Assistance: Commerical Bank Response
Debt Partial Risk Guarantees Nonreimbursable Equity Reimbursable Grants Other

81 58 52 49 42 39 19 3
20 40 60 80 1 00

59 52 37 26 22 4
0 1 0 20 30 40 50 60 70

Percent of respondents

Percent of respondents

                               

Figure 25 

Figure 26 

12

III. IFC COMPETITIVE BUSINESS ADVANTAGE WORKSHOP IN SUSTAINABLE FINANCE  
The Sustainable Finance Workshop: A Learning Experience with a Difference
  Three characteristics set the IFC Sustainable Finance Workshop apart from traditional seminars on environmental  or social issues.     Clearly defined deliverables: In the workshop you will acquire know‐how and the skills to deal with sustainability  issues. However, the course is not intended to be a mere class exercise. You are expected to be productive and to  work on an outline social and environmental management system (SEMS). This will be tailored to your institution  and ready for implementation at the end of the workshop.    The financial professionalʹs business perspective: The concepts and language used in the workshop are those familiar  in the financial sector. Taking a business perspective means analyzing social and environmental issues in terms of  financial risks, investment opportunities and reputation.  Sustainability jargon is kept to a minimum.    High interactivity: Expect a high level of interaction. The workshop is designed to create synergies between  participantsʹ expertise, thought‐provoking inputs by trainers, and support by seasoned coaches.   

Target Audience
  The workshop is tailored to management staff in financial institutions who are in charge of sustainability issues,  environmental management, or credit risk management. A modular structure makes the course suitable for both  beginners and advanced professionals familiar with social and environmental issues.   

Practical Approach, Business Perspective
  Capacity‐building is the first objective of the workshop. You will acquire the skills for analyzing, discussing, and  managing sustainability issues within your institution and with relevant stakeholders.    The focus, however, is on the second objective: to set up an outline of SEMS that deals with the issues relevant to  your institution and in your business environment. Guidance is provided in the form of a workbook designed to  accompany your work on the SEMS and to serve as a blueprint before, during, and after the training event.    Implementing SEMS benefits financial institutions in two ways:  • Firstly, by capitalizing on the business case linked to sustainability issues.  • Secondly, by ensuring compliance with IFC guidelines/policies.    It is this practical focus that distinguishes the Sustainable Finance Workshops from similar courses that  traditionally focus on awareness‐raising. You will start to deal with sustainability issues and to set up your SEMS  while still in the workshop, while experienced coaches are on hand to provide you with any support you may  require.    If your institution already has social and environmental management system running, the workshop is a good  opportunity to review it. 

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Content: Five Steps toward a Social and Environmental Management System
  In the workshop you will take six steps towards your SEMS. Each step is initiated by a presentation providing  you with a thorough understanding of the issues at hand and a range of conceptual tools you may find useful in  your work.    Step 1:  Analyze and Prioritize    Step 2: Sustainability Policy    Step 3: Procedures    Step 4: Resources and Planning    Step 5: Monitoring and Feedback    Break‐out sessions will be available for those interested in particular business areas such as insurance, or for  participants with expertise in managing sustainability issues.   

Training and Coaching By Experienced Professionals
  The trainers delivering the sustainable finance workshops and the coaches supporting you in your work on the  SEMS have a sound background in both finance and sustainability issues.    • This encompasses, first of all, a thorough understanding of a bankʹs mechanics and business activities.    • Secondly, trainers are both familiar with environmental, social, and development problems and have the  expertise to discuss these from a business perspective.    • Thirdly, you will be able to draw from the coachesʹ experience in setting up and maintaining  management systems dealing with risk, sustainability, environmental issues and quality.       

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IV. COMPETITIVE ENVIRONMENTAL/BUSINESS ADVANTAGE WORKSHOPS, JULY 2002–MID-2006
  2002
Miami (September) London (October) Moscow (October)

2005
Johannesburg (February) Sarajevo (March) Belgrade (March) Skopje (April) Tirana (April) Miami (May) Singapore (July) Ulaanbaatar (October) Bucharest (October) Tunisia (November) Sao Paulo (November) Ho Chi Minh (November) Hanoi (December)

2003
Istanbul (February) Johannesburg (June) Lagos (June) Budapest (November) Miami (December) Washington, DC (December)

2004
Dakar (March) Washington, DC (April) Sao Paulo (May) Beijing (June) Sao Paulo (July) Dhaka (October) Bucharest (October) Moscow (November) Miami (December)

2006
Singapore (March) Cairo (May) Apia (May) Casablanca (June) Hong Kong (June) Shanghai (October)

    Note:  For the list of workshops from November 1997 to October 2002, see Beyond Risk (IFC, 2003). 

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