Washington, D.C., October 22, 2025 —The Sustainable Banking and Finance Network (SBFN), facilitated by IFC, has released its 2025 Global Progress Report, highlighting rapid advances in sustainable finance across 72 emerging markets and developing economies.
Despite challenges, the global sustainable finance market continues to expand. SBFN members have collectively issued $790.5 billion in thematic bonds, representing 94 percent of all emerging-market issuance.
Since the last report in 2023, SBFN members introduced 145 new sustainable finance frameworks, strengthening ESG, including climate and nature-related risk management and encouraging sustainable finance opportunities. Importantly, emerging markets made progress in aligning the policies and guidance with international standards and best practices, creating predictable regulatory environments to catalyze domestic and international investment.
“Emerging markets and developing economies need an additional $4 trillion annually-above current spending levels- to close critical investment gaps. This underscores both the magnitude and urgency of mobilizing finance for sustainable and resilient development. SBFN plays a crucial role in creating the enabling environment needed to address this challenge and our member countries are taking action where it matters the most. Nearly half have introduced measures to expand finance for smaller businesses, creating the conditions for them to thrive”, said Alfonso Garcia Mora, Chair of SBFN Secretariat and IFC Vice President for Europe and Latin America & Caribbean.
The report highlights key obstacles to advancing the sustainable finance agenda in emerging markets, including the critical need to scale up adaptation finance, enhance the capabilities of financial institutions, and improve the availability and quality of reliable, comparable data.
The 2025 data collection, conducted via the new Data Portal, a dynamic tool designed to track sustainable finance information, provides a comprehensive view of progress across the financial ecosystem, including banking, securities, pensions, and insurance.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About SBFN
Established in 2012, SBFN is a voluntary community of financial sector regulators, central banks, ministries of finance, ministries of environment, and industry associations from emerging markets committed to advancing sustainable finance. IFC, part of the World Bank Group, is SBFN’s Secretariat and knowledge partner, assisting members to share knowledge and access capacity building to support the design and implementation of national sustainable finance initiatives. As of October 2025, SBFN comprises 101 member institutions representing 72 countries including 7 regional members covering an additional 32 countries in emerging markets, and at least US$79.5 trillion (96 percent) of the total banking assets in emerging markets. SBFN members are committed to moving their financial sectors towards sustainability, with the twin 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 more information, visit https://www.sbfnetwork.org/.
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