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.Read More
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.Read More
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.
We are delighted to welcome five of the world’s leading financial institutions to the Alliance for Green Commercial Banks. Asia is the world’s largest contributor to greenhouse gas emissions, which makes unleashing the region’s climate-smart investment potential critical to tackling climate change. With vast flows of capital from investors into both large corporations and micro, small, and medium-sized enterprises in Asia, all of which are becoming far more aware of the critical need to play their part in the green transition, green finance stands to play a huge role in the region’s sustainable economic development going forward.
The HKMA is committed to making Hong Kong SAR a leading global hub for green finance. Building the capacity of commercial banks and other financial institutions in Asia will help to scale up green finance markets and increase the risk resilience of the sector. The five cornerstone members share our vision of promoting more sustainable and more resilient regional growth, and we are excited to work with them in our collective efforts to address climate and environmental risks.
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
June 21, 2022
Overview of International Standardization on Sustainable Finance
International standards are crucial to set out principles, practices, and taxonomies to support financial institutions to enable positive environmental and social outcomes, address risk mitigation, and drive sustainable value. Through this session featuring a panel of experts from ISO/TC322 - the technical committee responsible for the development of ISO standards relating to sustainable finance - you will become familiar with the international standardization providing structure, transparency, and credibility on sustainable finance.Read More
May 03, 2022
Roundtable | Green and Sustainable Capital Market Evolution
This in-depth roundtable takes a deeper dive into the latest developments and the future of sustainable finance. Issuers, investors, regulators and Standard Chartered's industry experts will share insights from different lens, including the evolution of their segments over recent years and the challenges ahead, providing a holistic picture of the market, and more importantly, a vision of the golden opportunities ahead in Asia's sustainable finance landscape.Read More
March 24, 2022
Training | Green and Sustainable Capital Market Evolution
In the sustainable bond space, the market has seen record-breaking growth, crossing the US$1 trillion milestone in terms of issuances in 2021. This training session, co-organized by the Alliance and Standard Chartered, explored the different types of ESG-labelled bonds and loans, ranging from use of proceeds instruments to sustainability-linked instruments. The discussion offered perspectives on establishing a corporate sustainable financial framework and explores reporting and monitoring commitments under such a framework.Read More