A once-in-a-lifetime opportunity has come to sustainable banking.
The credit crunch and collapse of the structured products market have turned much accepted financial wisdom on its head. The world has gained a new appreciation for long-term risk, and regulators around the globe seek to impose new standards on institutions they supervise. “Sustainability is not a luxury at all. It is just good business. People are paying even more attention than they were before because they are more conscious of their images,” says Fabio Barbosa, president of Grupo Santander Brasil, which now owns Banco Real, winner of last year’s FT Sustainable Bank of the Year award. “Society is demanding a more conscious attitude.”