ELIGIBILITY CRITERIA

Cornerstone Members, General Members, and Candidates are expected to agree to align with the following :

  • Apply IFC’s Environmental and Social Performance Standards or other internationally recognized standards that are substantially equivalent to IFC’s Performance Standards;
  • Publicly disclose minimum information on high-risk projects*, such as name, year of financial close, sector, and host country**;
  • Work to measure their green finance baseline and set concrete targets to increase their green portfolio by 2030;
  • Reduce exposure to coal-related project finance; and
  • Establish a robust monitoring and reporting system for green business.
* Project finance to a borrower to support a business activity that may include a) involuntary resettlement, b) risk of adverse impacts on Indigenous Peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, or d) significant Occupational Health and Safety risks.
** The disclosure of name, year of financial close, sector and host country of high-risk projects is subject to a) obtaining client consent, b) applicable local laws and regulations, and c) no additional potential liability for the financial institution as a result of reporting in certain identified jurisdictions.
CANDIDATES
Qualification
GENERAL MEMBERS
Accreditation

Candidates have demonstrated interest in adopting green banking practices and commit to obtaining accreditation by the Alliance within two years of applying for Candidate. 

General Memebrs are acknowledged leaders in green banking practices. General Members are accredited by the Alliance following the Guiding Principles for Green Banks.

Candidates

OBLIGATIONS

  • Adopt the Alliance’s key pillars and obtain the accreditation within two years (if accreditation is not obtained within two years, candidates can reapply)
  • Launch new green financial products
  • Participate in the Alliance’s events (for example, forums, workshops and seminars)
  • Contribute case study(ies) of green finance practices (for example, new green products, typical green finance projects) to the Alliance annually
  • Publicly report on green development progress annually

BENEFITS

  • Join the leading community of green financial institutions and Global Partners to help shape the future of climate finance
  • Discover best practices across the globe to grow the green finance businesses
  • Access to thought leadership pieces, research, training programs, and international resources for green financial institution transformation
  • Access to IFC's advisory service to enhance operational excellence in green transformation (optional and charged services)*
  • Exchange knowledge through the Alliance’s Annual Forum, green finance seminars, working groups and regional study tours
  • Enhance branding in climate business in global markets and be recognized by the global community through progress reporting and the Alliance’s awards
  • Eligibility to apply for the Alliance’s Membership
*IFC’s paid advisory service includes a comprehensive diagnostic report and a green development roadmap. The service will be provided by IFC (a bilateral relationship between IFC and the candidate) and HKMA will not be involved. Candidates can also choose to hire an external consultant to guide their green transformation. 

General Members

OBLIGATIONS

  • Actively implement the Alliance’s key pillars
  • Launch institution-level green policies, practices and standards on an ongoing basis
  • Participate in Alliance’s events as a moderator or speaker
  • Organize and/or host green finance session at the Alliance’s event
  • Contribute knowledge pieces on green finance practices to the Alliance annually
  • Co-author the annual Asia Green Finance Development Report with the Alliance
  • Mentor new Candidate(s)
  • Publicly report on green development progress annually

BENEFITS

  • Join the leading community of green financial institutions and global partners to help shape the future of climate finance
  • Exchange best practices with the Alliance’s community to grow green finance businesses
  • Early access to thought leadership pieces, research, training programs, and international resources for green financial institution transformation
  • Early-stage involvement in drafting market-based guidance and standards with the Alliance
  • Demonstrate leadership through the Alliance’s Annual Forum, green finance seminars, working groups and regional study tours
  • Promote green and sustainability branding in global markets
  • Be a part of prestigious group of leaders helping to shape the green finance ecosystem

     

Cornerstone Members

OBLIGATIONS

  • Play a key role in the development of the General Member accreditation criteria with IFC and HKMA
  • Actively engage in industry green transformation by initiating dialogue and establishing partnerships with green pioneers both within and outside of the Alliance
  • Participate in the Alliance’s quarterly meetings
  • Continue progressing towards achieving all five pillars while sharing best practices on the pillars achieved
  • Co-organize the Alliance’s events
  • Co-author or  provide  consultation  on the Alliance’s thought leadership pieces, research, and frameworks development
  • Mentor new Candidate(s)
  • Publicly report on green development progress annually
  • Participate in the Alliance’s annual green transformation report (for example, provide case studies and ESG data)

BENEFITS

  • Join the leading community of green financial institutions and Global Partners to help shape the future of climate finance
  • Exchange best practices with the Alliance community to grow green finance businesses
  • Amplify influence and become an opinion leader on green finance by providing training on relevant topic
  • Co-author the Alliance’s thought leadership pieces, research, training programs, and international resources for green financial institution transformation
  • Early-stage involvement in strategy development and drafting market-based guidance and standards with the Alliance
  • Demonstrate leadership through the Alliance’s Annual Forum, green finance seminars, working groups, and regional study tours
  • Promote green and sustainability branding in global markets
  • Be part of a prestigious group of leaders helping to shape the green finance ecosystem

 

*Cornerstone Members are demonstrated leaders in green finance practices who have made concrete achievements towards the Alliance’s key pillars. They are by invitation only and have passed a rigorous selection process.

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