The role of the Advisory Council is to advise the Executive Committee of the Principles, to increase its market awareness and outreach, and to enable further engagement with specific membership categories and observers.

Members apply voluntarily and are selected by the Executive Committee for an annually renewable 1 year term. The selection is based on a balanced representation of Members and Observers of the Principles, especially key market stakeholders such as exchanges, data providers, rating agencies, external reviewers, law firms and civil society. Selection criteria include geographic diversity and market share. The Advisory Council also comprises green, social, and sustainability and sustainability-linked bond issuers, investors and underwriters not already represented on the Executive Committee.


The 2022/2023 Advisory Council includes 41 members:

Access Bank
ASEAN Capital Markets Forum (ACMF)
Ashurst LLP
Australia and New Zealand Banking Group (ANZ)
Baker McKenzie
Bank of Montreal
Breckinridge Capital Advisors
Brown Advisory LLC
China Lianhe Credit Rating Co. Ltd.
CICERO Shades of Green Ltd.
Clifford Chance
Climate Bonds Initiative
Dentons Canada LLP
Emerging Markets Investors Alliance
Export Development Canada (EDC)
Freddie Mac
Global Green Growth Institute (GGGI)
Instituto de Crédito Oficial (ICO)
Itaú Unibanco SA
Latham & Watkins LLP
London Stock Exchange Group PLC
Luxembourg Stock Exchange
Mayer Brown
Morgan Stanley
MSCI ESG Research
Nasdaq Stockholm AB
S&P Global Ratings
Slaughter & May
State Street Global Advisors
T. Rowe Price
The Carbon Trust
The Standard Bank of South Africa Limited
Wells Fargo
World Wide Fund for Nature (WWF)

If you would like more information on applying or on the Terms of Reference of the Advisory Council, please contact

Advisory Council Terms of Reference

ICMA's competition law guidelines apply to the activities of the Advisory Council and all Advisory Council members and other attendees at meetings and webinars should familiarise themselves with the content, available here.

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