SBN convenes a wealth of expertise through member institutions that have developed national approaches to sustainable finance and are committed to sharing their insights and lessons with peers. One of the most valuable ways this is achieved is through member-led working groups established in response to priority issues identified by members and with the aim of developing practical technical resources to support them.
The SBN Measurement Working Group, established in 2016, responds to members’ needs for enhanced technical support to design and implement national initiatives and guidance. The 11 member-countries and one regional network represent a spectrum of sustainable finance development. In 2017, the group convened member-wide discussions to identify critical components of national initiatives and guidance, to benchmark the findings against a set of common indicators, and to tease out success factors and gaps for improvement. In the process, the group innovated an approach to measure results.
The SBN Measurement Framework assesses members’ national sustainable policies and principles against environmental, social, and governance integration; green and climate finance; and global alignment and maps countries across a progression matrix. The framework is agreed by all SBN members.
The China Banking Regulatory Commission (CBRC) and Indonesia Financial Sector Authority (OJK) co-chair the group.
In 2018, the Measurement Working group launched Global Progress Report and Country Reports: www.ifc.org/sbnreport.
The Green Bond Working Group, established in 2017, responds to members’ interest in the global green bond trend and associated market opportunities. It is co-chaired by Working group members comprise representatives and observers from 21 countries and 30 organizations—including the International Capital Market Association. In 2018, the group undertook the most comprehensive assessment of green bond market developments to date in over 22 emerging markets and released a practical toolkit for SBN members in developing their own green, social, and sustainability bond markets.
The SBN Green Bond Toolkit includes nine country case studies and a comparison of national frameworks from 11 SBN members as well as the regional framework of the Association of South East Asian Nations (ASEAN) and Malaysia guidelines. Based on member experiences, it also articulates common objectives, a planning matrix, a roadmap, and a capacity-building needs assessment.
The Latin American Banking Federation (FELABAN), Moroccan Capital Markets Authority (AMMC), and Indonesia Financial Sector Authority (OJK) co-chair the group.
In 2018, the Green Bond Working Group launched the report, Creating the Green Bond Market – Insights, Innovations, and Tools from the Emerging Markets: www.ifc.org/sbngreenbond.
SBN International Development Association (IDA) Task Force
The SBN International Development Association (IDA) Task Force, established in 2018, responds to low-income members’ interests in finance for climate change. It aims to deepen the sustainable finance framework development and implementation in IDA member-countries. The task force constitutes 11 countries: three in advanced stages of implementing sustainable finance and eight at the outset of their journeys.
The Mongolian Sustainable Finance Association and Pakistan Central Bank co-chair the group.
The IDA Task Force aspires to raise environment, social, and governance risk management standards in financial markets, to mobilize financing, particularly from private sector, for climate change mitigation and adaptation in line with the Paris Agreement, and to support capital flows that deliver the Sustainable Development Goals. Private sector finance in emerging markets can make a substantial difference.