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 2024 Advisory Council includes 44 members:

Access Bank
Africa Finance Corporation
ASEAN Capital Markets Forum (ACMF)
Ashurst LLP
Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
Bank of Montreal
Bank of Nova Scotia
Bloomberg LP
China Lianhe Credit Rating Co. Ltd.
Climate Bonds Initiative
CSCI Pengyuan Green Finance Technology Co. Ltd.
Daiwa Securities Co. Ltd.
Emerging Markets Investors Alliance (EMIA)
Escarus (TSKB Sustainability Consultancy)
Euroclear SA/NV
Euronext N.V.
Ferrovie Dello Stato Italiane S.p.A.
Global Green Growth Institute (GGGI)
Instituto de Crédito Oficial (ICO)
Latham & Watkins LLP
London Stock Exchange Group PLC (LSEG)
Luxembourg Stock Exchange (LuxSE)
Mayer Brown
Mizuho Securities
Moody’s Investors Service
Morgan Stanley
Morningstar Sustainalytics
National Bank Australia Ltd
Nomura Securities Co. Ltd. / Nomura International plc
Principles for Responsible Investment (PRI)
Rating and Investment Information Inc.
S&P Global Ratings Europe
Slaughter & May
Social Value Institute S.C.
Standard Chartered Bank
State Street Global Advisors
Sustainable Fitch
White & Case LLP
World Wildlife Fund Inc. (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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