Professional founders promoting global conservation, MAVA along with partners, Finance Watch and Z/Yen have recently introduced the Global ‘Green Finance’ Index in Brussels.
This system is structured to rank the global financial centers on the basis of their insight on the quality and services offered by them to promote eco-friendly environment.
Out of 108 global financial centers, 47 centers were evaluated on the basis of at least 10 assessments. As per the GGFI ratings, western European financial centers occupied the highest positions than other countries.
Executive Chairman of Z/Yen, Michael Mainelli commented, “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.”
According to the Green Finance – penetration feature, London, Luxembourg, Copenhagen, Amsterdam and Paris held the top five positions respectively. Whereas, London, Amsterdam, Brussels, Hamburg and Paris topped the first five spots of Green Finance – Quality section. Cities such as London, San Francisco, Shanghai and Shenzhen, Johannesburg and Cape Town, Mexico City and Moscow are heading the GGFI ranking charts.
As London ranks first in both Green Finance – penetration and quality features, the London Stock Exchange Group (LSEG) registered a total of 59 green bonds in 2017 international financial market. These green bonds are estimated to elevate up to $20.2 billion.
From 14 to 22 green bonds enlisted, 57% growth was noted on LSEG in just one year. Statistical reports of 2017 suggested, a 58% increase in the amount ($9 billion hike in 2017 to date versus $5.7 billion in 2016).
Basically, LSEG is known to target fixed-income products and information services/indices. The main object of LSEG is to retain the top position of London in debt and equity Low Carbon Economy financial instruments.