The Principles Benefits of Membership brochure September 2024The Principles are designed to be industry wide, thus green, social, sustainability or sustainability-linked bond issuers and investors as well as banks are invited to apply for membership. The membership of the Principles is primarily opened to ICMA member firms. For the organisations that are not ICMA members, nor not-for-profit or public sector institutions, an annual financial contribution, the amount of which is set annually by ICMA, is requested for all.

In addition:

  • Members must be organisations that have issued, underwritten or placed, or invested in a green, social, sustainability or sustainability-linked bond, or other debt capital market instrument aligned with the Principles, that facilitates and supports environmentally and/or socially sustainable activities.
  • Observers can be organisations which are active in the field of sustainable finance but do not qualify as Members, such as but not limited to, NGOs, universities, auditors, consultants and service providers. For more information on the respective role of Members and Observers, please see the Governance Framework.

To be admitted as a Member or as an Observer, an organisation should apply in writing to the Secretariat of the Principles at sustainabilitybonds@icmagroup.org. Applications are subject to approval.

Download membership application form | Download benefits of membership



List of members

Organisation Type GBP SBP membership category Jurisdiction
A2A S.p.A. Corporate Member issuer Italy
ABN AMRO Bank NV Bank Member underwriter Netherlands
ABN AMRO Investment Solutions Investment firm Member investor France
Access Bank Bank Member issuer Nigeria
Africa Finance Corporation Financial institution Member issuer Nigeria
African Development Bank Financial institution Member issuer Supra-national
Agence Française de Développement Financial institution Member issuer France
Agence France Trésor on behalf of Republic of France Sovereign Member issuer France
Allen Overy Shearman Sterling LLP Law firm Observer UK
Allianz Global Investors GmbH Investment firm Member investor Germany
Allied Irish Banks plc (AIB Group) Bank Member issuer Ireland
Alma Mater Studiorum – University of Bologna- Department of Cultural Heritage University Observer Italy
Aluminium Stewardship Initiative Ltd. NGO Observer Australia
American Bureau of Shipping Service provider Observer US
American Carbon Registry NGO Observer US
American Forest Foundation NGO Observer US
Amundi Asset Management Investment firm Member investor France
ANALISTAS FINANCIEROS INTERNACIONALES Service provider Observer Spain
ANBIMA Association Observer Brazil
Anthropocene Fixed Income Institute NGO Observer Sweden
Arthur Cox LLP Law firm Observer Ireland
ASEAN Capital Markets Forum (ACMF) Public sector Observer Malaysia
Ashurst LLP (HK office) Law firm Observer Hong Kong
Asia Pacific Loan Market Association Association Observer Hong Kong
Asian Development Bank Financial institution Member issuer Supra-national
Association for Supporting the SDGs for the United Nations (ASD) NGO Observer Korea, Republic of
ATP Financial institution Observer Denmark
Australia and New Zealand Banking Group Limited (ANZ) Bank Member underwriter Australia
Australian Financial Markets Association (AFMA) Association Observer Australia
AXA IM Paris Investment firm Member investor France
Axis Bank Bank Member underwriter India
Baker & McKenzie LLP Law firm Observer UK
Banca Monte dei Paschi di Siena S.p.A Bank Member underwriter Italy
Banco BPM S.p.A. Bank Member issuer Italy
Banco BTG Pactual S.A. - Cayman Branch Bank Member issuer Brazil
Banco Santander Bank Member underwriter Spain
Bangko Sentral ng Pilipinas Public sector Observer Philippines
Bank Leumi le-Israel Ltd. Financial institution Member issuer Israel
Bank of Åland Plc Financial institution Member issuer Finland
Bank of China Limited Bank Member issuer UK
Bank of Montreal (BMO) Bank Member underwriter Canada
Bank of Nova Scotia Bank Member underwriter UK
Banque Cantonale Vaudoise Financial institution Observer Switzerland
Banque Centrale de Compensation (trading as LCH SA) Market infrastructure Observer France
Banque Internationale à Luxembourg S.A. Bank Member investor Luxembourg
Banque Ouest Africaine de Développement Financial institution Observer Supra national
Barclays Bank Member underwriter UK
Bayerische Landesbank Bank Member underwriter Germany
BBVA Bank Member underwriter Spain
Belfius Bank Bank Member underwriter Belgium
Berlin Hyp AG Bank Member issuer Germany
BlackRock Investment firm Member investor US
Bloomberg Data services Observer US
BLX Group LLC external reviewer Observer US
BNG Bank Bank Member issuer Netherlands
BNP Paribas Bank Member underwriter France
BNP Paribas AM Investment firm Member investor France
BNY Mellon Bank Observer UK
BOCI Asia Ltd Bank Member underwriter Hong-Kong
BofA Securities Bank Member underwriter US
BPCE SA Bank Member issuer France
British Columbia Investment Management Corporation Investment firm Member investor Canada
Brown Advisory LLC Investment firm Member investor US
Bryan Cave Leighton Paisner Law firm Observer UK
Building Research Establishment (BRE) Global Limited Service Provider Observer UK
Bundesrepublik Deutschland – Finanzagentur GmbH Public sector Member issuer Germany
Cadwalader, Wickersham & Taft LLP Law firm Observer US
Caisse des dépôts et consignations Public institution Member issuer France
Caixa Bank S.A. Bank Member underwriter Spain
California State Teachers' Retirement System Investment firm Member investor US
Canadian Imperial Bank of Commerce London Branch. (trading as CIBC World Markets Inc.) Bank Member underwriter Canada
Cardano Risk Management B.V. Investment firm Member investor Netherlands
CDP Worldwide Limited NGO Observer UK
Cecabank Bank Observer Spain
Center for Climate Finance Service provider Observer US
Center for Sustainable Finance – Vlerick Business School University Observer Belgium
Central Bank of Malta Public sector Observer Malta
Ceres NGO Observer US
China Chengxin Green Finance Technology (Beijing) Ltd. Service provider Observer China (mainland)
China International Capital Corporation (International) Limited - CICC Investment firm Member investor Hong Kong
China Lianhe Credit Rating Co., Ltd. Rating agency Observer China (mainland)
Citigroup Global Markets Ltd Bank Member underwriter US
Clifford Chance LLP Law firm Observer UK
Climate Action Reserve NGO Observer US
Climate Bonds Initiative NGO Observer UK
Climate Policy Initiative Think tank Observer US
CMS Francis Lefebvre Avocats Law firm Observer France
Commerzbank Bank Member underwriter Germany
Commonwealth Bank of Australia Bank Member underwriter Australia
Commonwealth of Massachusetts Public sector Observer US
Comunidad de Madrid Public institution Member issuer Spain
Council of Europe Development Bank Financial institution Member issuer Supra-national
Crédit Agricole - CIB Bank Member underwriter France
Crédit Industriel et Commercial (CIC Market Solutions) Bank Observer France
Crédit Mutuel Asset Management Investment Firm Member investor France
CSCI Pengyuan Green Finance (Shenzhen) Technology Co., Ltd Service Provider Observer China (mainland)
Daiwa Capital Markets Europe Ltd Bank Member underwriter UK
Danske Bank Bank Member underwriter Denmark
DBS Bank Ltd Bank Member underwriter Singapore
de Volksbank N.V. Bank Member issuer Netherlands
DekaBank Deutsche Girozentrale Bank Member underwriter Germany
Deloitte Touche Tohmatsu Limited Audit firm Observer US
Dentons Law firm Observer Canada
Deutsche Bank AG Bank Member underwriter Germany
Deutsche Kreditbank AG Bank Member issuer Germany
Development Bank of Japan Inc. Financial institution Member issuer Japan
Development Bank of Southern Africa Financial institution Member issuer South Africa
DLA Piper UK LLP Law firm Observer UK
DNB Bank Member underwriter Norway
DNV GL External reviewer Observer UK
DZ Bank Bank Member underwriter Germany
Emerging Markets Investors Alliance NGO Observer US
Emirates NBD Capital Limited Bank Member underwriter United Arab Emirates
Enel SpA Corporate Member issuer Italy
Engie Corporate Member issuer France
Enterprise Community Loan Fund Financial institution Member issuer US
Ernst & Young Hua Ming LLP External reviewer Observer China (mainland)
Ernst & Young LLP Audit firm Observer UK
Erste Asset Management Investment firm Member investor Austria
Escarus - TSKB Sustainability Consultancy External Reviewer Observer Türkiye, Republic of
ESPAE School of Management of ESPOL - Sustainable Finance Initiative University Observer Ecuador
EthiFinance External Reviewer Observer France
Eurex Repo GmbH Market infrastructure Observer Germany
Euroclear Bank Market infrastructure Observer Belgium
EUROFIMA Financial Institution Member issuer Switzerland
EuroMTS Ltd Market infrastructure Observer UK
Euronext Dublin Market infrastructure Observer Ireland
Euronext Paris Market infrastructure Observer France
European Bank of Reconstruction and Development Financial institution Member issuer Supra-national
European Investment Bank Financial institution Member issuer Supra-national
european primary placement facility Market infrastructure Observer Luxembourg
European Stability Mechanism Financial institution Member issuer Supra-national
Everence Investment Firm Member investor US
Exeter Law School University Observer UK
Fannie Mae Financial institution Member issuer US
Ferrovie dello Stato Italiane Corporate Member issuer Italy
Financial Services Agency of Japan Public Sector Observer Japan
Finnvera Oyj Financial institution Observer Finland
FirstRand Bank (Rand Merchant Bank) Bank Member underwriter South Africa
FirstRand Bank (Rand Merchant Bank) Bank Observer Singapore
FMO Financial institution Member issuer Netherlands
Freddie Mac (Federal Home Loan Mortgage Corporation) Financial Institution Member issuer US
Freshfields Bruckhaus Deringer LLP Law firm Observer UK
FSC Global Development GMBH NGO Observer Germany
Fundación Vida Silvestre Argentina (FVSA) NGO Observer Argentina
Gide Loyrette Nouel AARPI Law firm Observer France
Global Green Growth Institute (GGGI) NGO Observer Korea, Republic of
Global Infrastructure Basel Foundation NGO Observer Switzerland
Goldman Sachs Asset Management Investment firm Member investor US
Goldman Sachs International Bank Member underwriter UK
Green Finance Committee of the China Society for Finance and Banking (under the People's Bank of China) NGO Observer China (mainland)
Green Finance Institute NGO Observer UK
Green Investment Group Bank Observer UK
Hannon Armstrong Sustainable Infrastructure (HASI) Investment firm Member issuer US
HEC Paris University Observer France
Helaba (Landesbank Hessen-Thüringen Girozentrale) Bank Member underwriter Germany
Hengeler Mueller Partnerschaft von Rechtsanwälten mbB Law firm Observer Germany
Herbert Smith Freehills LLP Law firm Observer UK
Hogan Lovells International LLP Law firm Observer UK
Hong Kong Exchanges and Clearing Limited Market infrastructure Observer Hong Kong
Hong Kong Investment Funds Association Association Observer Hong Kong
Hong Kong Quality Assurance Agency External reviewer Observer Hong Kong
HSBC Bank plc Bank Member underwriter UK
HSBC Global Asset Management (GAM) Investment firm Member investor UK
IBERDROLA, S.A. Corporate Member issuer Spain
ICE Data Services Data services Observer UK
Impact Investment Exchange Ltd Issuer Observer Singapore
Imperial College Business School University Observer UK
Industrial and Commercial Bank of China (Europe) S.A. Bank Member issuer Luxembourg
ING Bank NV Bank Member underwriter Netherlands
Insight Investment Management (Global) Limited Investment firm Member investor UK
Institute for Global Environmental Strategies Think tank Observer Japan
Instituto de Crédito Oficial (ICO) Bank Member issuer Spain
Instituto Embaixada Do Clima NGO Observer Brazil
International Finance Corporation (IFC) Financial institution Member issuer Supra-national
International Fund for Agricultural Development (IFAD) Financial institution Member issuer Supra-national
International Institute of Green Finance (IIGF) Think tank Observer China (mainland)
Intesa Sanpaolo Spa Bank Member issuer Italy
Investec Bank plc Financial institution Observer UK
Islamic Development Bank Bank Member issuer Saudi Arabia
ISS Corporate Solutions – Powered by ISS ESG External Reviewer Observer US
Itau Unibanco S.A. Bank Member underwriter Brazil
J.P. Morgan Asset Management Investment firm Member investor UK
J.P. Morgan Securities Bank Member underwriter US
Japan Credit Rating Agency External reviewer Observer Japan
Japan Quality Assurance Organization Service provider Observer Japan
Japan Railway Construction, Transport and Technology Agency Corporate Observer Japan
Japan Research Institute Think tank Observer Japan
Japan Securities Dealers Association (JSDA) Association Observer Japan
Jefferies International Ltd Financial institution Observer UK
Kāinga Ora – Homes & Communities Financial institution Member issuer New Zealand
KBC Bank NV Bank Member underwriter Belgium
KfW Bank Member issuer Germany
King & Wood Mallesons LLP Law firm Observer UK
KOMMUNALBANKEN (KBN) Public institution Member issuer Norway
KommuneKredit Financial institution Member issuer Denmark
Kommuninvest i Sverige AB Public institution Member issuer Sweden
Landwirtschaftliche Rentenbank Bank Member issuer Germany
Latham & Watkins LLP Law firm Observer UK
LBBW (Landesbank Baden-Württemberg) Bank Member underwriter Germany
LCH Ltd Market infrastructure Observer UK
LGT Capital Partners Ltd. Investment firm Member investor Switzerland
Lianhe Green Development Company Limited External reviewer Observer China (Hong-Kong)
Linklaters LLP Law firm Observer UK
Lloyds Bank Corporate Markets plc Bank Member underwriter UK
Loan Market Association Association Observer UK
Local Initiatives Support Corporation (LISC) Financial institution Member issuer US
Lombard Odier Asset Management (Europe) Ltd Investment firm Member investor UK
London Stock Exchange Market infrastructure Observer UK
Loyens & Loeff N.V. Law firm Observer Netherlands
Luxembourg Stock Exchange Market infrastructure Observer Luxembourg
M&G Investment Management Limited Investment firm Member investor UK
Magyar Nemzeti Bank Public sector Observer Hungary
Main Street Partners Ltd Investment advisor Member investor UK
Manhattan College University Observer US
Massachusetts Bay Transportation Authority Public institution Member issuer US
Matheson Law firm Observer Ireland
Mayer Brown International LLP Law firm Observer UK
Measurement Matters Service provider Observer Colombia
Mediobanca - Banca di Credito Finanziario S.p.A. Bank Member issuer Italy
Met Office Public Sector Observer UK
Ministry of the Environment - Government of Japan Public sector Observer Japan
Mioying Financial Technology Limited (MioTech) Service provider Observer Hong Kong
Mirova Investment firm Member investor France
Mitsubishi UFJ Morgan Stanley Securities Co Investment firm Member underwriter Japan
Mizuho International plc Bank Member underwriter UK
MN Services N.V. Investment firm Member investor Netherlands
Moody's Corp Rating agency Observer US
Morgan Stanley & Co. International PLC Bank Member underwriter UK
Morgan Stanley Investment Management Limited Investment Firm Member Investor UK
Morningstar Sustainalytics B.V. External reviewer Observer Netherlands
Morrison & Foerster LLP Law firm Observer US
MSCI ESG Research External Reviewer Observer US
MUFG Bank, Ltd. Bank Member issuer Japan
MUFG Securities EMEA plc Bank Member underwriter UK
Municipality Finance Plc Public institution Member issuer Finland
Nasdaq Stockholm AB Market infrastructure Observer Sweden
National Australia Bank Ltd Bank Member underwriter Australia
National Bank Financial Bank Member underwriter Canada
National Treasury Management Agency Sovereign Member issuer Ireland
Natixis Bank Member underwriter France
Nature Finance NGO Observer Switzerland
NatWest Group Bank Member issuer UK
NedBank Limited Bank Member issuer South Africa
Nederlandse Waterschapsbank N.V. (NWB Bank) Bank Member issuer Netherlands
New Development Bank Bank Member issuer Supra-national
Nomura Asset Management Co., Ltd. Investment firm Member investor Japan
Nomura International Plc Bank Member underwriter UK
Nomura Securities Co., Ltd Investment firm Member underwriter Japan
NORD/LB Norddeutsche Landesbank-Girozentrale Bank Member underwriter Germany
Nordea Bank Abp Bank Member underwriter Finland
Nordic Investment Bank Financial institution Member issuer Supra-national
Novethic NGO Observer France
NRW.BANK Financial institution Member issuer Germany
Observatorio Español de la Financiación Sostenible Service provider Observer Spain
OFI GLOBAL INSTITUTIONAL, INC Financial institution Observer US
OP Corporate Bank plc Bank Member underwriter Finland
Orsted S/A Corporate Member issuer Denmark
Ostrum Asset Management Investment firm Member investor France
PeaceStartup Foundation NGO Observer Colombia
Pengyuan Credit Rating (Hong Kong) Company Limited Rating agency Observer Hong Kong
PGGM Vermogensbeheer B.V. (PGGM Investment Management) Investment firm Member investor Netherlands
PIMCO Europe Ltd Investment firm Member investor UK
Pinsent Masons LLP Law firm Observer UK
PricewaterhouseCoopers LLP Audit firm Observer US
Province of Ontario Public institution Member issuer Canada
Province of Quebec Public institution Member issuer Canada
Quintet Private Bank S.A. Financial institution Observer Luxembourg
Rabobank Bank Member underwriter Netherlands
Raiffeisen Bank International AG (RBI) Bank Member underwriter Austria
Raiffeisen Capital Management Investment firm Member investor Austria
Raiffeisen Schweiz Genossenschaft Bank Member issuer Switzerland
RAM SUSTAINABILITY SDN BHD External reviewer Observer Malaysia
Rating and Investment Information, Inc. External reviewer Observer Japan
RBC Capital Markets Bank Member underwriter UK
Reed Smith LLP Law firm Observer UK
Refinitiv Limited (LSEG Data & Analytics) Data services Observer UK
Region Ile-de-France Public institution Member issuer France
Research Institute for Environmental Finance Think tank Observer Japan
Riksgäldskontoret (the Swedish National Debt Office) Sovereign Member issuer Sweden
S&P DOW JONES INDICES Service provider Observer UK
S&P Global Ratings Rating agency Observer UK
Schroders Investment Management Investment firm Member investor UK
Scope SE & CO KGaA Rating agency Observer Germany
SEB Investment Management AB Investment firm Member investor Norway
Securities and Exchange Commission, Thailand Public sector Observer Thailand
SFIL Financial institution Member issuer France
Shanghai Clearing House Market infrastructure Observer China (mainland)
Shanghai Stock Exchange (SSE) Market infrastructure Observer China (mainland)
SIDLEY AUSTIN LLP Law firm Observer UK
Simmons & Simmons LLP Law firm Observer UK
Singapore Exchange Limited Market infrastructure Observer Singapore
Singapore Sustainable Finance Association (SSFA) Association Observer Singapore
Skandinaviska Enskilda Banken AB (SEB) Bank Member underwriter Sweden
Slaughter and May Law firm Observer UK
SMBC Nikko Capital Markets Limited Bank Member underwriter UK
Smith School of Enterprise and the Environment - Oxford University University Observer UK
SNAM SpA Corporate Member issuer Italy
SNCF SA Corporate Member issuer France
Social Value Institute SC Service provider Observer Mexico
Société des Grands Projets Public institution Member issuer France
Société Générale S.A. Bank Member underwriter France
Standard Advisory London Limited Financial institution Observer UK
Standard Bank of South Africa Limited Bank Member issuer South Africa
Standard Chartered Plc Bank Member underwriter UK
State Street Global Advisors Investment firm Member investor UK
Stichting Obligatiehoudersbelangen Market infrastructure Observer Netherlands
Stockholm Environment Institute Service provider Observer Sweden
Sustainable Finance Institute Asia Limited Think tank Observer Singapore
Sustainable Fitch Rating agency Observer UK
Svenska Handelsbanken AB Bank Member underwriter Sweden
Swedbank AB Bank Member underwriter Sweden
Swedbank Robur Investment firm Member investor Sweden
Swiss Reinsurance Company Ltd (Swiss Re) Reinsurance company Member investor Switzerland
SynTao Green Finance Co., Ltd. Service provider Observer China (mainland)
T. Rowe Price International Ltd Investment Firm Member investor UK
TD Securities Bank Member underwriter Canada
The Carbon Trust Service Provider Observer UK
The Impact Investing Institute NGO Observer UK
The Investment Association Association Observer UK
The London Institute of Banking & Finance University Observer UK
The Nature Conservancy NGO Observer US
The Pension Boards - United Church of Christ Investment firm Member investor US
Turk Standardlari Enstitusu Service Provider Observer Türkiye, Republic of
UBS AG Bank Member underwriter UK
UN Climate Change Secretariat (UNFCCC) NGO Observer Supra-national
UN Women NGO Observer US
UNICEF Luxembourg NGO Observer Luxembourg
UniCredit Bank GmbH Bank Member underwriter Germany
Union Investment Privatfonds GmbH Investment firm Member investor Germany
United Nations NGO Observer US
United Nations - supported Principles for Responsible Investment (PRI) NGO Observer UK
United Nations Development Programme NGO Observer Supra-national
United Nations Global Compact NGO Observer US
United Overseas Bank Limited (UOB) Financial institution Member issuer Singapore
University of Cambridge Institute for Sustainability Leadership University Observer UK
Volksbank Wien AG Bank Member issuer Austria
Watson Farley & Williams Law firm Observer UK
Wells Fargo Bank N.A. Bank Member underwriter US
Westpac Banking Corporation Bank Member issuer Australia
White & Case LLP Law firm Observer UK
World Bank Financial institution Member issuer Supra-national
World Wide Fund for Nature (WWF) NGO Observer Switzerland
Yale University University Observer US
Zhong Lun Law Firm Law firm Observer China (mainland)
Zurich Insurance Group Ltd. Investment firm Member investor Switzerland
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