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Article

13 Oct 2004

Author:
Financial Times

Where sustainability means survival

...the financial services sector...is having to take sustainability seriously now. Non-governmental organisations have targeted banks as the ultimate source of environmentally unfriendly projects, a plethora of sustainability indices has sprung up and institutional investors are taking note of environmental issues because they are hitting their bottom line...Banktrack, an NGO that monitors banks' investments, says [Equator Principles] signatories are still funding unsustainable projects, and that it is unclear to what extent banks are actually complying with the principles. [refers to ABN Amro, Barclays, Citigroup, Co-operative Bank & Co-operative Insurance Society (both part of Co-operative Group)]