IFC’s Alliance For Green Commercial Banks Welcomes 20 Commercial Banks Managing Over US $5.6 Trillion In Assets To Drive Sustainable Banking Transformation Across Asia-Pacific

Twenty commercial banks, managing more than US$5.6 trillion in assets, have joined the Alliance for Green Commercial Banks, an initiative led by the International Finance Corporation (IFC), part of the World Bank Group. This first group of members marks an important step toward transforming commercial banking by embedding sustainability into core strategies and advancing green finance across emerging markets in the Asia-Pacific region.

The Alliance is an exclusive, invitation-only platform that brings together commercial banks committed to supporting low-carbon, resilient, and inclusive economies. It promotes a comprehensive approach to green financing, covering renewable energy, energy efficiency, sustainable transport, climate adaptation, nature-based solutions, circular economy practices, and sector-wide transitions. By connecting global best practices with innovative business models, the Alliance aims to accelerate the shift toward sustainable banking in developing economies.

Members of the Alliance benefit from a collaborative, peer-to-peer community where they can learn, exchange knowledge, and adopt proven strategies for green banking. The platform provides access to advisory services, financing, and technical expertise to help banks expand solutions for climate mitigation, adaptation, and environmental opportunities in key sectors such as energy, transport, agriculture, and urban development.

The inaugural members represent eight diverse markets and include globally recognized institutions for their leadership, innovation, and sustainability efforts. These banks are: BNP Paribas; BRED Bank Cambodia and KB PRASAC Bank (Cambodia); Bank of Nanjing, Ma’anshan Rural Commercial Bank, MYbank, and Shanghai Pudong Development Bank (China); PT Bank Negara Indonesia (Persero) Tbk (BNI) and PT Bank Shinhan Indonesia (Indonesia); Banque Franco-Lao (BFL), Banque Pour Le Commerce Exterieur Lao Public (BCEL), and Phongsavanh Bank Limited (Lao PDR); Bank of the Philippine Islands (BPI) and Security Bank (The Philippines); Bank of Ayudhya Public Limited (Krungsri) and TMBThanachart Bank (ttb) (Thailand); and 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) (Viet Nam).

Allen Forlemu, IFC Regional Industry Director for the Financial Institutions Group in Asia Pacific, said the participation of these banks reflects growing commitment and leadership in green finance. He described the Alliance as more than a network, but rather a community working collectively to transform finance, bridge the multi-trillion-dollar climate finance gap, and position emerging markets at the forefront of sustainable economic development.

The Alliance’s operations in Asia are supported by the Hong Kong Monetary Authority (HKMA) and its five Cornerstone Banks: Bank of China (Hong Kong), Citi, Crédit Agricole CIB, HSBC, and Standard Chartered. In addition, Knowledge Partners such as CDP, CFA Institute, Convergence Blended Finance, Climate Capital Asia, Renewables Academy (RENAC), and the United Nations Environment Programme provide insights, expertise, and connections to accelerate the growth of green finance in the region.