Sustainable Banking Alliance: Lessons learned in engaging financial institutions for climate finance

At the 2022 Conference of the Parties of the UNFCCC (COP27), USAID unveiled the Sustainable Banking Alliance (SBA). As part of this initiative, USAID is partnering with Financial Institutions (FIs) to build their capacity for measuring, reporting, and to mitigate their exposure to climate-related risks, and decrease their financed greenhouse gas (GHG) emissions. The Alliance will also bolster the climate resilience of financiers and their investees. Since its announcement, USAID has initiated SBA pilots in Colombia, Egypt, and Rwanda, with the support of DAI. This address will provide an overview of the early-stage lessons learned and identified opportunities to support the integration of climate finance in FIs including partnership opportunities at within different FI teams, the need for improved climate-related data, and the role of financial associations and the public sector.