Sustainable Investment Award Recognizes T. Rowe Price and International Finance
Corporation's Partnership to Grow the Blue Bond Market
BALTIMORE, July 25,
2024 /PRNewswire/ -- The pioneering initiative to
improve access to blue finance projects, forged late last year from
the partnership between T. Rowe
Price, a global investment management firm and leader in
retirement, and International Finance Corporation (IFC), a member
of the World Bank Group, was announced by Environmental
Finance as the 2024 Sustainable Investment Award winner
for ESG* Investment Initiative of the year, Americas. The honor
recognizes T. Rowe Price and IFC for
their joint efforts to increase access to finance for ocean
conservation projects in emerging markets and help improve market
standards for the nascent blue bond market.
"We are delighted to have been chosen as the winner of the ESG
investment initiative of the year, Americas, award," said Tongai
Kunorubwe, head of ESG fixed income investing at T. Rowe Price. "Alongside our partners at IFC, we
believe that investment in the blue economy is critical in
addressing the planetary and societal risks posed by the current
chronic underfunding that is evident in the blue economy. Capital
markets, in particular the bond market, have a critical role to
play in funding clean water and sanitation, alongside investments
in healthy oceans and riverine bodies. This is what's needed to
help address the polycrisis spanning climate change,
biodiversity loss, and human health considerations. Awareness and
education represent important first steps, which this award helps
create."
"This recognition from Environmental Finance on our
partnership with T. Rowe Price is a
strong endorsement of IFC's programmatic approach to diversify
offerings to private investors by creating new asset classes for
sustainable investing in emerging markets," said Laila Nordine, Global Manager for Sustainable
Finance, IFC. "The partnership focuses on spurring demand for blue
assets as blue finance is key to helping safeguard our access to
clean water, protect underwater environments, and invest in a
sustainable ocean economy. Dedicated vehicles for blue investment
are critical to advance the blue economy in emerging markets and
developing economies."
The Sustainable Investment Awards recognize asset managers,
analysts, and data providers incorporating ESG across all asset
classes globally. The ESG investment initiative of the year,
Americas, recognizes asset owners, fund and portfolio management
companies that demonstrated a new method or new action to achieve
their ESG investment goals.
*Environmental, Social, Governance
ABOUT T. ROWE
PRICE
Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around
the world achieve their long-term investment goals. As a large
global asset management company known for investment excellence,
retirement leadership, and independent proprietary research, the
firm is built on a culture of integrity that puts client interests
first. Investors rely on the award-winning firm for its retirement
expertise and active management approach of equity, fixed income,
alternatives, and multi-asset investment capabilities.
T. Rowe Price manages US
$1.57 trillion in assets under
management as of June 30, 2024, and
serves millions of clients globally. News and other updates can be
found on Facebook,
Instagram, LinkedIn, X, YouTube,
and troweprice.com/newsroom.
ABOUT IFC
IFC — a member of the World Bank Group — is the largest global
development institution focused on the private sector in emerging
markets. We work in more than 100 countries, using our capital,
expertise, and influence to create markets and opportunities in
developing countries. In fiscal year 2023, IFC committed a record
$43.7 billion to private companies
and financial institutions in developing countries, leveraging the
power of the private sector to end extreme poverty and boost shared
prosperity as economies grapple with the impacts of global
compounding crises. For more information, visit
www.ifc.org
Stay Connected with IFC on social media
T. Rowe Price and IFC are not
affiliated companies.
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SOURCE T. Rowe Price Associates, Inc.