Second cohort of banks endorses ICC Principles for Sustainable Trade Finance

The International Chamber of Commerce (ICC) has announced that a second cohort of global banks has endorsed its Principles for Sustainable Trade Finance.

BNP Paribas, Intesa Sanpaolo, Natixis, Rabobank, Société Générale, Standard Bank, and United Overseas Bank have now joined the initiative. They build on the first group of four institutions (Standard Chartered, Santander, ING, and Commerzbank), which endorsed the principles in June 2025. Together, the 11 banks represent around 70% of Europe’s trade finance market by volume, with participation extending across Africa and Asia.

The latest endorsements are a step towards a unified methodology for assessing sustainability in trade finance, an area that has long lacked consistent standards. The ICC framework is the outcome of nearly four years of structured consultation with more than 100 banks, corporates, multilaterals, and civil society organisations, developed in partnership with Boston Consulting Group (BCG).

“We are delighted to welcome seven more leading banks in endorsing the ICC Principles for Sustainable Trade Finance,” said Raelene Martin, Head of Sustainability at ICC. “This continued wave of support reflects strong market alignment around a common methodology to embed sustainability into the core of global trade.”

With COP30 approaching later this year, Martin noted that momentum is building for the financial sector to play a central role in decarbonising supply chains and advancing inclusive growth.

Building on foundation principles

The ICC first launched its Principles for Sustainable Trade Finance in late 2024 to establish a practical framework for identifying, verifying, and reporting sustainable trade transactions. The methodology provides structured guidance for assessing sustainability claims, applying due diligence safeguards, and aligning disclosure practices with other green finance standards.

For a market that has often struggled to define what constitutes sustainable trade (particularly for short-tenor and documentary instruments where end-use transparency is limited) this degree of clarity is significant.

Standard Chartered, one of the earliest banks to align with the framework, described it as a “landmark step” in enabling consistent application across banks, corporates, and investors. Others have echoed that view, citing the framework’s emphasis on comparability, operational guidance, and its ability to direct capital towards activities and supply chains that deliver measurable environmental and social outcomes.

Market implications and next steps

With 11 major institutions now aligned, the ICC and BCG are continuing to gather feedback through public consultation, including on forthcoming modules that will cover Social Trade Finance and Sustainability-Linked Supply Chain Finance. These additions are expected to extend the framework beyond environmental objectives to include social impact and performance-linked financing tools.

The growing alignment is also a sign of a mindset shift in the industry that sustainable trade finance must be embedded into the mechanics of everyday banking rather than treated as a niche product set.

At a systemic level, the initiative may also help bridge trade and sustainable finance taxonomies, which have often evolved separately. By aligning with the Loan Market Association’s Green and Social Loan Principles, the ICC framework aims to improve interoperability between capital markets and trade finance, reducing duplication and easing reporting burdens for banks and corporates alike.

Looking ahead to COP30

As banks, corporates, and regulators convene at COP30 later this year, sustainable trade finance is moving closer to the centre of the policy and market agenda. 

This second cohort of endorsements reinforces the notion that sustainable trade finance is taking root across mainstream portfolios. With consultations on social and supply-chain principles now under way, the ICC and its partners face the task of embedding these standards across products, regions, and regulatory systems.

The coming year will test how effectively those principles can be applied in practice.