Climate change and the challenge of the transition to a low-carbon economy have manifold implications for the financial industry. This agenda implies evolving risks—as well as opportunities—for financial firms, and will require a major reorientation of capital and financial flows over the coming decades. Financial firms seeking to make more green finance available in emerging markets face an array of challenges including regulatory gaps, and poor incentives for local firms to adopt more ambitious climate goals. This IFC report looks at how to overcome obstacles and meet the needs of emerging market companies seeking access to sustainable finance. This is crucial for two reasons. First, the characteristics of financial sectors in EMDEs are not always given due consideration by advanced economy policymakers and transnational regulatory networks, whose initiatives largely shape the global green and sustainable finance universe. Second, even when advanced economy and EMDE regulators talk with each other and share experiences, for example through the Network for Greening the Financial System and the Sustainable Banking and Finance Network, the concerns of the private sector do not always come to the forefront.