London and Amsterdam lead the world in green finance
Global Green Finance Index rates western European cities as best for sustainable products and services
London and Amsterdam are leading the way in green finance, according to a league table of major financial centres around the world.
The Global Green Finance Index (GGFI) ranks cities on the quality of their green and sustainable finance products and services. Published twice a year by Finance Watch, it is a valuable tool for the development of green finance for policy and investment decision makers.
The fourth edition, published on 27 September 2019, researched 114 financial centres, 64 of which now feature in the index.
Western Europe continues to lead the world in green finance, taking eight of the top ten places in depth, which measures the intensity of green finance activity compared with all finance activity in each centre. It also took all top ten places for quality, which looks at green financial products and services.
Amsterdam retains its top spot in depth,followed by Copenhagen, Zurich, Luxembourg and London.
In the quality ranking, London was ahead of Amsterdam, Paris, Hamburg, Zurich and Stockholm.
The report also found that sustainable infrastructure finance is the most sought after green product by investors, with green bonds and renewable energy in the next two places.
The GGFI uses 132 instrumental factors, provided by third parties including the World Bank, the Economist Intelligence Unit, the OECD and the United Nations. These are combined with a worldwide survey of finance professionals, who assess centres where they have done business.