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European centres lead Green Finance Index

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Amsterdam and London continue to lead the latest global rankings of green financial centres, according to the latest edition of the Global Green Finance Index. Copenhagen, Zurich and Paris are close behind.

The Global Green Finance Index (GGFI) is published every six months and ranks global financial centres according to the depth and quality of their green finance offerings. In a new report, GGFI 3 Amsterdam came first for depth, with Zurich and Copenhagen equal second. London dropped to fifth place. In the quality rankings, London and Paris retained the leading two places, while in North America, Montreal came first for depth and San Francisco first for quality, although Canadian centres outperformed the US.
 
In Asia/Pacific, Shanghai came first for depth, and Sydney took the top place for quality, while Casablanca, São Paulo, and Prague topped the rankings for both depth and quality in their regions.
 
The biggest improvers were San Francisco, Toronto, and Vienna, which moved up five or more places in the depth index. Munich, Copenhagen, Toronto, and Madrid moved up five or more places for quality.
 
Renewable energy investment, sustainable infrastructure finance, and green bonds remained the areas of most interest to finance professionals.
 
Nicolas Mackel, Chief Executive of Luxembourg For Finance, says: “The GGFI provides the sustainable finance industry and policymakers with deep insights, clarity, and understanding on an international level on what works and what does not. This information allows us to assess, measure, and grow our financial centres’ sustainable finance activities.”
 
Professor Michael Mainelli, Executive Chairman of Z/Yen Group, says: “The index results also appear to show that there is a premium to be gained from demonstrating leadership in particular sectors or products, for example, Luxembourg on green bonds, London in relation to insurance, or ESG equity in Hamburg. The GGFI shows that financial centres can improve their green finance offerings through specialisation, collaboration, and leadership, all of which can be encouraged by policy frameworks.”

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