The Advisory Council (AC) was designed to advise the Executive Committee (ExCom) of the Principles, to increase its market awareness and outreach, and to enable further engagement with specific membership categories and observers in different regions. In 2025/2026, it continues to focus on emerging markets as well as other topics related to the ExCom’s agenda. All Members & Observers of the Principles (except for current Members of the ExCom) are eligible to apply and are selected for a 1-year term.
Composition
The 2026 Advisory Council includes 49 members:
A2A
Africa Finance Corporation
Agence Francaise de Développement
Banco BPM
Bank of Nova Scotia
BBVA
Bloomberg LP
Cassa Depositi e Prestiti S.p.A
Central Bank of the UAE
China Chengxin Green Finance Technology Ltd
Chiomenti Studio Legale
CIBC
Citigroup
Clifford Chance LLP
Climate Bonds Initiative
Daiwa Securities
DBS Bank
Emerging Markets Investors Alliance
Emirates NBD Capital
Enel S.p.A
Escarus
Ferrovie Dello Stato Italiane
Franklin Templeton International Services
FSC Investments & Partnerships
Goldman Sachs Asset Management (GSAM)
Instituto de Crédito Oficial (ICO)
International Fund for Agricultural Development (IFAD)
ISS Corporate Solutions, Inc.
Japan Credit Rating Agency Ltd
Lianhe Green Development Co. Ltd.
London Stock Exchange Group plc
Luxembourg Stock Exchange
Mayer Brown
Mizuho
Moody’s Ratings
Nomura
Principles for Responsible Investment (UN PRI)
Rand Merchant Bank (FirstRand)
Rating & Investment Inc.
S&P Global Ratings Europe
Scope SE & CO KGaA
Standard Chartered Bank
State Street Global Advisors
Sustainable Fitch Limited
Sustainable Intelligence (SUSTIN)
TPI Global Climate Transition Centre
Treasury Corporation of Victoria
UBS
WWF
If you would like more information on applying or on the Terms of Reference of the Advisory Council, please contact sustainabilitybonds@icmagroup.org.
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.
