Press release
T. ROWE PRICE, IFC VENTURE AWARDED ESG INVESTMENT INITIATIVE OF THE YEAR, AMERICAS, BY ENVIRONMENTAL FINANCE
Sustainable Investment Award Recognizes T. Rowe Price and International Finance Corporation's Partnership to Grow the Blue Bond Market BALTIMORE, July 25,
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[{"type":"text","content":"Sustainable Investment Award Recognizes T. Rowe Price and International Finance Corporation's Partnership to Grow the Blue Bond Market \nBALTIMORE, 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.\n\n\"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.\"\n\"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.\"\nThe Sustainable Investment Awards recognize asset managers, analysts, and data p...