The Alliance for Green Commercial Banks (The Alliance) is a global initiative convened by IFC to bring together financial institutions, research institutions, and innovative technology providers to work together to develop a community of green financial institutions in emerging markets to collectively finance the infrastructure and business solutions needed to urgently address climate change.
© The Alliance for Green Commercial Banks
It is our urgent global priority to address the complex and interconnecting needs of turning green investment opportunities in emerging markets into reality. By working together with public and private stakeholders, we hope our work will mobilize the financial sector, and accelerate the transition to a low-carbon global economy.
IFC — a member of the World Bank — is the largest global development institution focused on the private sector in emerging markets. IFC works 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.
FOUNDING MEMBER AND
REGIONAL ANCHOR FOR ASIA
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s central banking institution. One of the HKMA’s main functions is to maintain Hong Kong’s status as an international financial centre, including the maintenance and development of Hong Kong’s financial infrastructure. The HKMA is committed to promoting green and sustainable finance and collaborating with local and global stakeholders to address climate risk. HKMA is a founding member of the Alliance and the first regional anchor (Asia).
One-stop Knowledge Hub: Creating a one-stop shop and peer-to-peer learning platform for financial institutions to acquire knowledge, and tools to develop their green finance roadmaps and transform into credible green financial institutions.
Community of Practice and Innovation: Bringing together the leaders in green finance to develop a community of green financial institutions across emerging markets. Facilitating dialogue and providing thought leadership to catalyze green finance development.
Facilitate Investment for Green Business Opportunities: Helping Alliance members and partners collaborate, unlock the trillions available in green and climate-related investment opportunities and scale up green finance to support a progressive transition to a sustainable future.
Deploy Advisory Support for Green Transformation: Accelerating the transformation of green financial institutions and financing the infrastructure and business solutions needed to urgently address climate change.
ALLIANCE KEY PILLARS
Mainstream green finance
Reduce financing to GHG intensive industries
GREEN NEW BUSINESS
Grow green business
Diversify green financial instruments
Green strategic planning
Improve green finance capacity
Achieving a state of zero carbon dioxide emission
Achieving net zero carbon dioxide emissions
ENVIRONMENTAL, SOCIAL & CLIMATE RISK MANAGEMENT
Strengthen climate risk management
Establish environmental, social and governance (ESG) structure