The second edition of the Global Green Finance Index (GGFI 2) was published on 27 September 2018. It is a ranking of international financial centres – such as Paris, New York, Shanghai etc. – based on the perceived quality and depth of the green financing activities in each location.
The GGFI aims to foster a discussion of what is meant by a “green” financial centre, encourage a race-to-the-top among financial centres, and provide an opportunity to share best practices. It is a non-profit initiative produced by Finance Watch and Z/Yen, with support from the MAVA Foundation.
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 today’s report, GGFI 2:
- Amsterdam and Copenhagen came first and second for depth, pushing London into third place.
- In the quality rankings, Paris moved up three places to second, with London retaining its top spot.
- In North America, Montreal came first for depth and San Francisco first for quality.
- Shanghai, 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.
- Paris, Frankfurt, and Singapore led the centres most cited as likely to become more significant over the next two to three years.
- Renewable energy investment, sustainable infrastructure finance, and green bonds remained the areas of most interest.
- There was increasing interest in fossil fuel disinvestment, carbon disclosure and green insurance.
- The data suggest that leadership on quality of life issues may be an enabling factor for the growth of green finance.
Further analysis of the data and trends in green finance development can be found in the full GGFI 2 report: Global Green Finance Index 2 (pdf, 84 pages)
Consult also the CBI data for GGFI 2