Glitnir Bank nominated for FT Sustainable Banking Awards Skip to content

Glitnir Bank nominated for FT Sustainable Banking Awards

Iceland-based Glitnir Bank has been nominated for the 2007 Financial Times Sustainable Banking Awards in the category “Sustainable Deal of the Year” for it’s participation in a geothermal heating system project in China.

Glitnir Bank was short-listed along with four other nominees; Deutsche Bank/Goldman Sachs for an international finance facility for immunization, Industrial Bank, China, for financing products for energy efficiency projects, Kookmin Bank, South Korea for a transit system and WestLB, Germany, for an industrial waste treatment plant in Mexico.

The awards will be announced at a special ceremony in London in June.

In 2006 Glitnir Bank played a key part in developing a district-heating system for Xian Yang city in China, as described in a press release issued by the bank this week.

The project was the first undertaken by the recently founded Shaanxi Green Energy, owned by Enex-China and Shaanxi CGCOC Energy Development Construction LTD.

Enex-China is owned by Enex, a conglomerate of the Icelandic energy utility, Reykjavík Energy Company (OR) and Glitnir Bank.

The FT Sustainable Banking Awards were created in 2006 by the UK business newspaper Financial Times and the International Finance Corporation (IFC) to recognize banks that have shown leadership and innovation in integrating social, environmental and corporate governance objectives into their operations.

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