City Bank receives Int’l award for energy efficiency financing

City Bank recently won the prestigious Global Climate Partnership Award 2018 from the Global Climate Partnership Fund (GCPF). This is one of the most prestigious awards on energy efficient financing which recognises outstanding performance and impact of partner institutions in the areas of energy efficiency and renewable energy related to green lending.

The award giving ceremony was held at Zurich, Switzerland where the bank’s MD and CEO Sohail RK Hussain received the award. Members of the GCPF board, investment committee, investors and representatives from other financial institutions were also present at the event.

The award was open to all financial institutions that have partnership with the Global Partnership Fund (GCPF). City Bank competed with 29 financial institutions from 22 countries involved in advanced energy efficient and renewable energy financing. City Bank’s strong commitment towards environment-friendly lending is saving 152,522 MW of energy every year through energy efficient investments and has reduced 42,749 tonnes of carbon dioxide emissions annually.

GCPF is an investment company located at Luxembourg.  It invests in developing and emerging economies with high greenhouse gas emissions and significant potential to improve energy efficiency and climate change. The fund is backed by international institutions like Danish International Development Agency (DANIDA), KfWEntwicklungsbank, International Finance Corporation (IFC), Development Bank of Austria (OeEB), Dutch Development Bank (FMO), German Federal Ministry for the Environment, Nature Conservation and Building and Nuclear Safety (BMUB).