BRUSSELS, March 14, 2018/PRNewswire/ —
The new Global Green Finance Index (GGFI) was launched today by Z/Yen and Finance
Watch at an event in Brussels. The GGFI ranks the world’s financial centres according to
perceptions of the quality and depth of their green finance offerings.
In this inaugural edition (GGFI 1), financial centres in Western Europe outperformed
those in other regions. The full report can be downloaded here
The report’s findings include:
— The leading green financial centres in each region are London, San Francisco,
Shanghai and Shenzhen, Johannesburg and Cape Town, Mexico City, and Moscow.
— Paris, Frankfurt and New York lead the centres most cited as likely to become more
significant over the next two to three years.
— Financial centres that have shown leadership in green finance policy are expected to
gain in significance, with Paris at the top of this list.
— In some countries, smaller centres with a strong green focus such as San Francisco and
Hamburg outperformed larger centres such as New York and Frankfurt.
— The rankings are liable to change in future editions, as they are based on tightly
clustered scores in the range of 322-437 points out of 1,000.
— The level of scores suggests that green finance can grow substantially in size and
— Supportive policy measures and investor demand are seen as the main drivers of green
— Renewable Energy Investment, Green Bonds and Sustainable Infrastructure Finance were
rated as areas of high impact on sustainability and of high interest to respondents.
— Disinvestment from fossil fuels was rated as high impact on sustainability but low
interest to respondents, suggesting room for policy change.
Top Five Centres for Green
Finance — Penetration
Top Five Centres for Green
Finance — Quality
Dr. Simon Zadek, Co-Director, UN Environment Inquiry into the Design of a Sustainable
Financial System; Visiting Professor and DSM Senior Fellow for Partnerships and
Sustainability, Singapore Management University, said:
«Ratings and indexes are important instruments to enable effective communication of
relative and absolute progress, as well as encouraging a race to the top, and a healthy
debate of what constitutes success and how it can best be measured. In this spirit,
Finance Watch and Z/Yen have taken us all to the next level in providing us with the first
globally applicable index of developments in greening the world’s financial centres».
Michael Mainelli, Executive Chairman of Z/Yen, said:
«The core of the GGFI is a perception survey which observes and promotes change where
it matters most — in people’s minds. The more we can get people talking about a
sustainable transition, the quicker it will happen. The high level of interest in GGFI 1
is a step in that direction.»
Benoît Lallemand, Secretary General of Finance Watch, said:
«The GGFI aims to contribute to the definition of green finance and identify best
practices and areas for improvement. We hope it will promote bold policy initiatives and
high-quality financing that can cut through greenwash. It is urgent that sustainable
finance becomes mainstream in all financial centres.»
André Hoffman, President of MAVA Fondation pour la Nature, said:
«We are particularly excited that smaller and more specialised centres, such as
Hamburg and San Francisco, and financial centres with strong policy frameworks around
green finance, such as Paris, Luxembourg and the Chinese centres, have performed well in
this first index. We hope more centres will follow where they are leading.»
The GGFI is a non-profit initiative produced by Finance Watch and Z/Yen with support
from the MAVA Fondation pour la Nature.
The GGFI will be updated every six months, based on a survey running continuously at
GGFI 1 was launched at the Hotel Leopold, Rue de Luxembourg, Brussels at 12:00 hours
CET on 14 March 2018.
Further information at www.greenfinanceindex.net [http://www.greenfinanceindex.net ]
For further information or to interview one of the team, please contact:
Mike Wardle, Z/Yen
Greg Ford, Finance Watch