
GLOBAL PROGRESSREPORT2025 About the Sustainable Banking and Finance Network Established in 2012, SBFN is a voluntary community of financial sector regulators, central banks, minis-tries of finance, ministries of environment, and industry associations from emerging markets committedto advancing sustainable finance. IFC, part of the World Bank Group, is SBFN’s Secretariat and knowledgepartner, assisting members to share knowledge and access capacity building to support the design and im-plementation of national sustainable finance initiatives. As of October 2025, SBFN comprises 101 memberinstitutions representing 72 countries including 7 regional members covering an additional 32 countriesin emerging markets, and at least US$79.5 trillion (96 percent) of the total banking assets in emergingmarkets. SBFN members are committed to moving their financial sectors towards sustainability, with thetwin goals of improved environmental and social risk management (including disclosure of climate risks)and increased capital flows to activities with positive climate, environmental, and social impact. For moreinformation, visithttps://www.sbfnetwork.org/ About IFC IFC — a member of the World Bank Group — is the largest global development institution focused on theprivate sector in emerging markets. We work in more than 100 countries, using our capital, expertise, andinfluence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committeda record $71.7 billion to private companies and financial institutions in developing countries, leveragingprivate sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.For more information, visitwww.ifc.org. © International Finance Corporation 2025 All rights reserved.2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433Internet: www.ifc.org. International Finance Corporation (IFC) is the Secretariat for the Sustainable Banking and Finance Network (SBFN).IFC and SBFN, in consultation with SBFN members haveproduced a report entitled Sustainable Banking and Finance Network Global Progress Report 2025 (the “Work”). The material in this Work is copyrighted. Copying and/ortransmitting portions or all of this Work without permission may be a violation of applicable law. IFC and SBFN encourage dissemination of the Work and grant permission toreproduce portions of the Work promptly, when the reproduction is for educational and non-commercial purposes, without a fee, subject to such attributions and notices as IFCmay reasonably require. This material is distributed subject to the condition that it shall not, by way of trade or otherwise, be lent, re-sold, hired out, or otherwise circulated on acommercial basis without IFC's prior consent. All information in the Work is provided “as is” and without warranty of any kind, express or implied. IFC and SBFN do not guarantee the accuracy, reliability, or completeness of thecontent included in this Work, or the conclusions or judgments described herein, and accept no responsibility or liability for any omissions or errors (including, without limitation,typographical errors and technical errors) in the content whatsoever or for reliance thereon. By publishing the Work, IFC and SBFN do not create, accept, or assume any legalobligation or duty. No part of Work, may be used or referred to in any judicial, arbitral, regulatory, or other process without IFC’s and SBFN’s express written consent. The findings, interpretations, and conclusions expressed in this Work do not necessarily reflect the views of the Executive Directors of The World Bank Group, or the governmentsthey represent. The contents of this Work are intended for general informational purposes only and are not intended to constitute legal, securities, or investment advice, an opinionregarding the appropriateness of any investment, or a solicitation of any type. IFC or its affiliates may have an investment in, provide other advice or services to, or otherwise havea financial interest in, certain of the companies and parties named herein. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of the IFC or any World Bank Group entity, all ofwhich are specifically reserved. All other queries on rights and licenses, including subsidiary rights, should be addressed to IFC’s Corporate Relations Department, 2121 PennsylvaniaAvenue, N.W., Washington, D.C. 20433. International Finance Corporation is an international organization established by Articles of Agreement among its member countries, and amember of the World Bank Group. All names, logos and trademarks are the property of IFC and you may not use any of such materials for any purpose without the express writtenconsent of IFC. Additionally, “International Finance Corporation” and “IFC” are registered trademarks of IFC and are protected under international law. Table of Contents Figures, Cha