The first benchmark for green financial centres is the result of a partnership between Climate-KIC as project sponsor, I4CE which developed the methodology and PwC which collected and analysed the data. The benchmark measures and qualifies the degree of contribution of the main financial centres of the G7 countries – Frankfurt, London, Milan, New York, Paris, Tokyo, Toronto – to the financing of the climate and environment transition.
It identifies available financing and investment volumes in various green asset classes. It also provides information on three key dimensions: transparency of information, green integrity of products and services and dynamics that accelerate the flow of capital towards sustainable financing of the economy.
The results of the benchmark are mostly based on data from international rankings, which guarantees an impartial analysis of the financial centres covered and will allow follow-up over time.
The first results show that each G7 financial centre presents its own distinct strengths across different types of green finance products and services. The report provides guidance to assess which have the most complete, transparent or stringent offers.
Wider scope warranted for forthcoming editions: this first benchmark does not purport to give an exhaustive report of the ‘green’ performance of financial centres, given the lack of consistent international data. This edition covers a limited number of asset classes and types of players: green technology financing, green bonds, listed companies, green bond issuers and institutional investors. Going forward, it should be complemented with an assessment of green loans, insurance, equity funds and private/venture equity.