Bank of China Joins Four Global Institutions in Green Banking Initiative

What’s new: Five global banks signed up as cornerstone members of the Alliance for Green Commercial Banks, a global green banking initiative established by the Hong Kong Monetary Authority (HKMA) and the World Bank’s International Finance Corporation (IFC).

The five cornerstone banks are Bank of China (Hong Kong), Citigroup, Crédit Agricole CIB, HSBC and Standard Chartered. They are to work closely with the IFC and the HKMA to advocate client adaptation of green strategies, promote best practices in green products and services, and unlock new business opportunities to enable the green transition of economies, the HKMA said in a statement