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July 24, 2025 - The IFC-facilitated Sustainable Banking and Finance Network (SBFN) has launched a new white paper titled ‘Leaving No One Behind: Unlocking Finance in Emerging Markets,’ highlighting how inclusive approaches to sustainable finance are driving resilience in emerging markets.

Emerging markets require an estimated US$2.5 trillion to meet their climate adaptation and resilience goals. As the economic and social impacts of climate change intensify, the financial sector plays a critical role in addressing these challenges. This new research by SBFN spotlights how member institutions are building more inclusive and resilient financial systems.

Drawing on the experience of SBFN members, the paper proposes a common definition of inclusive sustainable finance as:
“Practices in sustainable finance that target vulnerable, marginalized, or excluded populations and economic sectors to (1) improve their access to financial capital for green transition, climate adaptation, and resilience, and (2) mitigate potential exclusionary effects resulting from sustainability, including climate-related policies and actions.”

The paper outlines five key building blocks of inclusive sustainable finance and presents policy examples from SBFN members, including Bank of Ghana, Banko Sentral ng Pilipinas (the Philippine Central Bank), Brazilian Federation of Banks (FEBRABAN), Central Bank of Egypt, Central Bank of Jordan, Central Bank of Sri Lanka, Central Bank of Tunisia, Kenya Bankers Association, and Tanzania Bankers Association. It also presents recommendations for further steps needed to achieve inclusivity in sustainable finance.

This white paper is the work of the SBFN Inclusive Sustainable Finance Task Force established in January 2024.

Download the paper

Read more about the Inclusive Sustainable Finance Task Force here