Jan 9, 2009, 5:15 AM
Standard Chartered Bank has been named winner in the corporate responsibility category of the FT ArcelorMittal Boldness in Business Awards. The judges commended the bank's commitment to community investment and impact in the areas of health and education, which have remained steady throughout the financial downturn.
Praising Standard Chartered's bold approach to corporate responsibility, one of the judges, Dan Bogler, who is the Managing Editor of the Financial Times, said "Operating in some of the world's poorest nations, Standard Chartered contributes not only money but also expertise and enthusiasm in supporting educational and medical causes. It also partners with governments and Non-Governmental Organisations - an approach that makes a real difference on the ground."
Accepting the award at last night's ceremony, Mike Rees, Group Executive Director and CEO for Wholesale Banking at Standard Chartered said "Getting the fundamental rights is at the heart of our business and sustainability is central to the way we operate. This includes not only innovative community initiatives but also running the Bank responsibly and making the right decisions in the best long-term interests of our customers, employees, shareholders and communities. It is an honour to be recognised for our commitment to these values."
Among the examples of Standard Chartered’s programmes showcased on the night were:
Living with HIV - a programme designed to combat the disease by educating over a million people worldwide; Seeing is Believing - a unique partnership between the Bank, the International Association for the Prevention of Blindness and local NGO's to deliver eye care to 20 million people in deprived communities; and Goal - a programme that empowers young women through team sports and education in life skills and financial literacy.
Lionel Barber, the Editor of the Financial Times, praised the standard of the shortlist. He said: "In what was undoubtedly a difficult year for business across the globe, we were impressed with the strong competition for each award. I congratulate each of the winners on their outstanding commitment to building their business which will in turn strengthen the economy and drive global business forward."
Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said: "This year's winners really personify boldness because they've had the courage to make tough decisions and successfully lead their companies through the most challenging economic period in recent history. It's at times like this that bold decision-makers are most important, they are the ones who can save businesses and turn adversity into opportunity.”