The Co-op named Europe's most sustainable bank

For the third year running The Co-operative Banking Group's sustainable approach has received international recognition at the Financial Times' Sustainable Banking and Finance Awards.

At a prestigious ceremony at London's Landmark Hotel, last night, the Bank was named as Europe's Sustainable Bank of the Year for the second year running.  The highly contested award recognises leadership and innovation in social and environmental banking.

The awards are backed by the International Finance Corporation (IFC), part of the World Bank, and judged by a panel of the world's leading financiers. Now in their seventh year, The FT/IFC Sustainable Finance Awards are the major global awards for environmentally and socially responsible banking and investment. The 2012 Awards attracted 161 entries from 145 financial institutions and 36 non-financial groups in 67 countries.

Amongst other things, judges praised the Bank's Ethical Policy, which is now two decades old, its £1bn commitment to investment in green energy and its support for the financially excluded.

Barry Tootell, Acting Chief Executive of The Co-operative Banking Group, said: "Throughout the financial crisis we've shown that by being a member-owned, customer-led and ethically-guided business we can maintain a sustainable path for the benefit of all our key stakeholders.

"Our sustainable approach has underpinned our growth and at a time when consumers are rightly looking for a fresh banking alternative, our embedded approach to sustainability will continue to drive us forwards."

Martin Dickson, Deputy Editor of the Financial Times and co-chair of the awards judging panel said: "The winners of this year's awards should be congratulated as they stand out from a very strong group of financial institutions that are leading the way on making environmental and social considerations a major part of their business."

In 2010, The Co-operative Banking Group was named the World's most Sustainable Bank and in 2011 Europe's most Sustainable Bank at the awards.