IFC’s Green Commercial Bank Alliance Welcomes 20 Banks to Support Sustainable Banking Transition in Asia–Pacific

On September 9, 2025, in Hong Kong, China, 20 commercial banks with a combined US$5.6 trillion in assets under management officially became members of the Green Commercial Bank Alliance, an initiative launched by the International Finance Corporation (IFC), a member of the World Bank Group. The launch marks an important step toward advancing the transition of commercial banking systems toward sustainability by combining international best practices with innovative business models to accelerate green finance in emerging markets and developing economies across the Asia–Pacific region.

The Alliance operates on an invitation-only membership model, bringing together banks committed to integrating sustainability into their core business strategies and financing the transition to a low-carbon, resilient and inclusive economy. The initiative supports a wide range of green finance sectors, including renewable energy, energy efficiency, sustainable transport, industry transition, climate adaptation and circular economy solutions, helping accelerate the transformation of banks in emerging markets toward sustainable and resilient development.

Through this platform, member banks collaborate, connect and exchange knowledge to lead best practices in green banking while advancing their own sustainability transformation journeys. The Alliance leverages networks of leading global institutions to provide technical advisory and financial support, enabling banks to expand climate mitigation and adaptation solutions and unlock opportunities in key sectors such as energy, transportation, agriculture and urban development. The inaugural members represent eight markets, including institutions recognized for leadership, innovation and strong commitments to sustainable development.

Allen Forlemu, IFC’s Director for Financial Institutions Group in Asia–Pacific, stated:
“The inaugural members demonstrate the growing commitment and leadership of commercial banks in advancing green finance. The Alliance is more than a network – it is a community of dedicated institutions working together to transform finance, close the multi-trillion-dollar climate finance gap, and position emerging markets as engines of sustainable economic growth.”

In Asia, the Alliance is coordinated by the Hong Kong Monetary Authority (HKMA), with five anchor banks: Bank of China (Hong Kong), Citi, Crédit Agricole CIB, HSBC and Standard Chartered. The Alliance also receives technical support from leading knowledge partners including CDP, the CFA Institute, Convergence Blended Finance, Climate Capital Asia, the Renewable Energy Academy (RENAC) and the United Nations Environment Programme (UNEP).

About MSB

MSB is proud to be among the first members of the Alliance in the region, joining 19 other banks. Participation in the Alliance reaffirms MSB’s strong commitment to advancing green finance, while opening opportunities to access advanced technologies and expertise to support the development of green projects in Vietnam. MSB remains committed to working alongside customers and communities in building a sustainable and greener future for the country.

About IFC

The International Finance Corporation (IFC) is the largest global development institution focused on the private sector in emerging markets. Operating in more than 100 countries, IFC works with companies and financial institutions to help create a world free of poverty and a livable planet. In fiscal year 2025, IFC committed US$71.7 billion in financing to private sector institutions.

About the Alliance

The Green Commercial Bank Alliance is a global initiative designed and led by IFC to promote the development of green banking in emerging markets. It serves as a platform bringing together leading banks and financial leaders to accelerate the green transition through knowledge sharing, community building and sustainable innovation. The first chapter of the Alliance was launched in Asia, under the leadership of the Hong Kong Monetary Authority together with leading international anchor banks.

Source: IFC

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