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The award recognizes IBEC pioneering approach to integrating environmental, social, and governance (ESG) principles into corporate decision-making processes and classifying the Bank’s trade finance products. The IBEC Sustainability Assessment Framework provides a comprehensive methodology for evaluating and enhancing sustainability practices across various industries. The document was developed by the IBEC team to set out their own standards to classify trade finance products and transactions as sustainable in order to build an efficient, robust and transparent qualification process.
The IBEC approach to assessing the sustainability of its operations is based on three components: compliance with the IBEC Strategy, compliance with the UN SDGs, and an analysis of environmental and socio-economic sustainability. The Assessment Principles developed by the Bank are based on the best practices of the ICC, which has released the third version of the Sustainable Trade Standards.
This achievement is a testament to the hard work of IBEC team in promoting sustainable principles in trade finance operations.
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