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Federal Bank recognised as Top Performer of 2023 CAFI Award

Published on December 15, 2023
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.
Federal Bank recognised as Top Performer of 2023 CAFI Award
  • 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
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