Global Green Finance Index - Evaluating The Green Finance Offering Of Global Financial Centres - Singapore Enters The Top 10 In Green Finance, Alongside Western European And Us Centres

The 12th edition of the Global Green Finance Index (GGFI) evaluates green finance offerings from 94 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 12 are shown in the table below.

GGFI_12

GGFI 12 Headlines:

London retained its first position in the index, with New York retaining second place.
Geneva took third place, and Zurich and Singapore moved into the top 10, replacing Amsterdam and San Francisco.
Western European centres take six of the top 10 places, with US centres taking three. Singapore enters the top 10 - the only Asia/Pacific centre in this leading group.
The margins separating centres at the top of the index continue to narrow in GGFI 12. Among the top 10 centres the spread of ratings is 20 out of 1,000, compared to 31 out of 1,000 in GGFI 11.
Following a large increase in GGFI 11, the average rating for centres rose just 1.28%, with 22 centres falling in the ratings. 13 centres fell 10 or more places in the rankings.
Policy & Regulatory Frameworks continue to be identified as the leading driver in the development of green finance, alongside International Initiatives. In the lead up to COP 28 in Dubai, this continues to highlight the importance of transnational cooperation and policy in setting the framework for green finance to thrive.

In the supplement to this edition of the GGFI, we focus on space, and the need to manage the problem of space debris to continue to focus space technology to address the UN Sustainable Development Goals (SDGs), with one estimate suggesting that almost 40% of the targets that underpin the 17 SDGs are directly taking advantage from the use of geo-location and earth observation satellites.

We researched 126 financial centres for GGFI 12. The number of centres in the index has increased to 94 (86 in GGFI 11), with the addition of San Diego, Atlanta, Philadelphia, Miami, Manila, Cyprus, Monaco, and the Bahamas. Full details of GGFI 12 can be found here.

Professor Michael Mainelli, Chairman of Z/Yen Group, said:
“From a historic start in European financial centres, green finance has infused all leading financial centres. Several Asia-Pacific centres are challenging traditional green finance centres, and Singapore joins the top 10. The strong tightening in rankings attests to the heat of the competition. Exciting green finance innovation is coming from places such as Chile and Uruguay. COP28 will highlight the worldwide nature of green finance.”