Federal Bank recognised as Top Performer of 2023 CAFI Award

Current Context: On 14th December 2023 Federal Bank has been named the top performer for Climate Reporting in the 2023 Climate Assessment for Financial Institutions (CAFI) Awards.

• This award, organized by the International Finance Corporation (IFC), recognizes financial institutions in emerging markets that excel in reporting on their climate investments and commitments.
• The bank stands out for its significant contributions in two areas:
• Highest Climate Loan Amount Reported: This indicates that Federal Bank has allocated a substantial portion of its loans to projects that support climate mitigation and adaptation efforts.
• Most GHG Mitigated: This suggests that the bank's investments have led to a measurable reduction in greenhouse gas emissions, demonstrating their effectiveness in tackling climate change.
• This recognition signifies Federal Bank's leadership in driving sustainable finance practices in India and its dedication to playing a crucial role in the global fight against climate change.

Question:

Q.1 Who organizes the Climate Assessment for Financial Institutions (CAFI) Awards?
a. World Bank
b. International Monetary Fund
c. International Finance Corporation
d. Federal Reserve