Twenty commercial banks, collectively managing more than $5.6 trillion in assets, have joined the Alliance for Green Commercial Banks, an initiative of International Finance Corporation (IFC), a member of the World Bank Group.

IFC said in a statement on Tuesday that this inaugural cohort marks an important step in accelerating the transformation of commercial banks towards excellence in green banking—integrating global best practices with innovative business models for sustainable finance across Asia-Pacific (APAC)’s emerging markets and developing economies.

The alliance is a curated, by-invitation platform that convenes commercial banks committed to embedding sustainability into their core strategies while financing the transition to low-carbon, resilient, and inclusive economies.

It promotes the full spectrum of green financing—covering renewable energy, energy efficiency, sustainable transport, sector-wide transitions, climate adaptation, nature-based solutions and circular economy — to accelerate the transformation of banking in emerging markets towards sustainable and resilient growth.

As part of this selective, peer-to-peer community, members learn, connect, and lead through an action-oriented model that promotes best practices in green banking and supports their transformation journey.

Leveraging its network of leading institutions, the alliance facilitates access to specialized advisory and financing to help them scale solutions for climate mitigation, adaptation, and environmental opportunities across key sectors such as energy, transport, agriculture, and urban development.

Representing eight markets, the inaugural members make up a diverse mix of leading institutions recognized for their market leadership, innovation, and commitment to sustainability.

These members are BNP Paribas; Cambodia: BRED Bank Cambodia and KB PRASAC Bank; China: Bank of Nanjing, Ma’anshan Rural Commercial Bank, MYbank, and Shanghai Pudong Development Bank; Indonesia: PT Bank Negara Indonesia (Persero) Tbk (BNI) and PT Bank Shinhan Indonesia; Lao PDR: Banque Franco-Lao (BFL), Banque Pour Le Commerce Exterieur Lao Public (BCEL), and Phongsavanh Bank Limited; the Philippines: Bank of the Philippine Islands (BPI) and Security Bank; Thailand: Bank of Ayudhya Public Limited (known as Krungsri) and TMBThanachart Bank (ttb); Viet Nam: Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), Orient Commercial Joint Stock Bank (OCB), Vietnam Maritime Commercial Joint Stock Bank (MSB), and Vietnam Prosperity Joint Stock Commercial Bank (VPBank).

“This inaugural cohort reflects the increasing commitment and leadership of commercial banks in green finance,

“The alliance is more than a network—it is a community of committed institutions working together to transform finance, close the multi-trillion-dollar climate finance gap, and position emerging markets at the forefront of sustainable economic growth,” said Allen Forlemu, IFC Regional Industry Director, Financial Institutions Group, APAC.

The alliance’s work in Asia is anchored by the Hong Kong Monetary Authority (HKMA), with Bank of China (Hong Kong), Citi, Crédit Agricole CIB, HSBC, and Standard Chartered as five Cornerstone Banks.

A broad group of knowledge partners — including CDP, CFA Institute, Convergence Blended Finance, Climate Capital Asia, Renewables Academy (RENAC), and the United Nations Environment Program — provides expertise, networks, and market insights to help accelerate the growth of green finance.

#GreenFinance #SustainableBanking #ClimateAction #EmergingMarkets #IFCAlliance