The Power List: Who’s Leading Sustainable Finance Now

agosto 5, 2025

8:14 am

As capital shifts toward sustainable finance, these 10 institutions shape the financial landscape through innovation, market influence and regulatory power.

Key Impact Points

Market movers: These banks, asset managers and regulators are redefining global finance by embedding sustainability into core strategies.
Policy shapers: Leaders are setting standards on climate disclosure, ESG integration, and sustainable lending frameworks.
Capital reallocation: Institutions are driving trillions toward green bonds, renewable projects and sustainability-linked finance.

The New Rules of Finance

Financial institutions face intensifying pressure to direct capital toward environmentally responsible projects. Tightening regulations, rising investor demand, and evolving market expectations are pushing banks, asset managers, and regulators to incorporate climate risk assessments into core operations.

Green bonds and sustainability-linked loans are expanding rapidly. As this shift accelerates, certain firms are emerging as the vanguard of sustainable finance.

10. European Investment Bank (EIB)

HQ: Luxembourg City, Luxembourg
CEO: Werner Hoyer
FY 2024 Lending Volume: €77.4bn (US$86bn)

The EU’s lending arm channels billions toward renewable energy, efficiency projects, and climate adaptation. Fossil fuel financing is being phased out, while climate risk assessment frameworks set sector-wide standards.

9. Financial Conduct Authority (FCA)

HQ: London, UK
CEO: Nikhil Rathi
FY 2023/24 Revenue: £597m (US$780m)

The UK regulator enforces climate disclosure rules and cracks down on greenwashing. Its sustainable disclosure framework now shapes product development for domestic and foreign firms targeting the UK market.

8. Nordea

HQ: Stockholm, Sweden
CEO: Snorre Storset
FY 2024 Revenue: €11.7bn (US$12.84bn)

Nordea embeds ESG into core lending, applying exclusion policies for high-impact industries and sustainability assessments for corporate borrowers. Its asset management arm maintains ESG-screened portfolios as the Nordic model gains traction globally.

7. ING

HQ: Amsterdam, Netherlands
CEO: Steven van Rijswijk
FY 2023 Revenue: €19.7bn (US$21.62bn)

ING’s Terra approach measures climate impact in high-emitting sectors. Coal financing is shrinking while renewable lending grows. Its sustainability improvement loans link interest rates to clients’ environmental performance.

6. Allianz

HQ: Munich, Germany
CEO: Oliver Bäte
FY 2024 Revenue: €161.7bn (US$177.47bn)

Allianz integrates sustainability into insurance and investments, limiting coal coverage and backing renewable projects. Its ESG scoring and climate risk models influence both internal strategy and client advisory.

5. Legal & General Investment Management (LGIM)

HQ: London, UK
CEO: Michelle Scrimgeour
FY 2023 Revenue: £4.5bn (US$5.8bn)

LGIM wields shareholder activism, voting against boards that ignore climate risk. Its Climate Impact Pledge holds companies publicly accountable, while custom climate indices embed sustainability in passive investing.

4. BNP Paribas

HQ: Paris, France
CEO: Jean-Laurent Bonnafé
FY 2023 Revenue: €46.3bn (US$50.79bn)

BNP is exiting coal while scaling renewable financing. It offers Paris Agreement-aligned products and transition advisory services, tracking financed emissions in carbon-heavy sectors.

3. Amundi

HQ: Paris, France
CEO: Valérie Baudson
FY 2023 Revenue: €3.1bn (US$3.4bn)

Amundi measures portfolio alignment with net-zero targets, informs institutional clients, and publishes climate finance research. It’s also expanding climate ETFs for retail investors.

2. HSBC

HQ: London, UK
CEO: Noel Quinn
FY 2023 Revenue: US$66.1bn

HSBC deploys green loans, bonds, and sustainability-linked trade finance. It’s cutting coal exposure while expanding renewable project finance, backed by in-depth industry transition analysis.

1. BlackRock

HQ: New York City, USA
CEO: Laurence D. Fink
FY 2024 Revenue: US$17.7bn

BlackRock’s trillions under management give it unmatched influence in sustainable finance. It measures financed emissions across portfolios, targets climate transition opportunities, and demands corporate climate risk disclosure through its voting policies.