The 13th edition of the Global Green Finance Index (GGFI) evaluates green finance offerings from 96 financial centres. The GGFI serves as a valuable measure of the development of green finance for policy and investment decision-makers.
The top 20 centres in GGFI 13 are shown in the table below.
GGFI 13 Headlines
- London retained its first position in the index, while Geneva and Zurich overtook New York to take second and third places.
- Montreal entered the top 10 in this edition of the index, replacing Copenhagen.
- Western European centres take five of the top 10 places, with US centres taking three. Singapore is the only Asia/Pacific centre in this leading group.
- The margins separating centres at the top of the index continue to narrow in GGFI 13. Among the top 10 centres the spread of ratings is only 13 points out of 1,000, compared to 20 points in GGFI 12.
- Only nine centres fell 10 or more places in the rankings, and four rose 10 or more places.
- Energy Efficient Investment, Disinvestment from Fossil Fuels, and Green Insurance are rated as the areas of green finance with most impact.
- Risk Management Frameworks, International Initiatives, and Renewables are listed by respondents as the major drivers of green finance.
In the supplement to this edition of the GGFI, we review the current and potential future of the hydrogen economy as an element of the transition to sustainable fuels, and in particular its use in industry and transport. Respondents to the GGFI survey predict that hydrogen is most likely to replace fossil fuels in steel production and the chemical industries.
We researched 127 financial centres for GGFI 13. The number of centres in the index has increased to 96 (94 in GGFI 12), with the addition of Lugano and Kaunas. Full details of GGFI 13 can be found at www.greenfinanceindex.net
The Rt Hon The Lord Mayor Of London, Alderman Professor Michael Mainelli [on sabbatical from being Chairman of Z/Yen], said: “Competition among leading financial centres in green finance is healthy. Gaps are closing as competition intensifies. It is great to see Montreal joining the top 10, another sign that green finance has spread from Europe worldwide. Looking forward, we expect to see progress on adaptation finance through continuing international cooperation, and new products particularly from the insurance and public debt markets.”
