Slide 1

Instrumental Factors

Instrumental Factors

 

In selecting instrumental factors to compile GGFI, a number of key properties are essential

  • Time series – where possible we will seek data that is contemporary (published within the last three years) is part of a series (collected as part of a programme rather than as a one off) and is on-going (there are plans to update it in the future).
  • Locational relevance – where possible we will seek data at a financial centre level. Where this is not possible we will use appropriate apportionment rules and/or alternative data ie regional.
  • Accessibility – data should be publically accessible, this enables transparency in the assessments. Only in exceptional circumstances- for example where no public data exists for an essential measure, do we purchase data commercially.

Currently the GGFI uses around 140 instrumental factors which we have grouped into the following areas:

 

Financial Services- These are statistics on the development of financial service activities, including data on sustainable and green finance; 

Business Environment- These include economics statistics as well as information on legal issues and sustainable policy;

Social Capital- These include data on social and educational development; 

Environment And Infrastructure- These focus on the physical attributes of centres such as air quality and carbon emissions, as well as telecommunications and transport etc.;

 

The rules for the use of this data in our analytical model are as follows:

 

  • updates to the indices are collected and collated every six months;
  • no weightings are applied to indices;
  • indices are entered into the GGFI model as directly as possible, whether this is a rank, a derived score, a value, a distribution around a mean or a distribution around a benchmark;
  • if a factor is at a national level, the score will be used for all centres in that country; nation-based factors will be avoided if financial centre (city)-based factors are available;
  • if an index has multiple values for a city or nation, the most relevant value is used (and the method for judging relevance is noted);
  • if an index is at a regional level, the most relevant allocation of scores to each centre is made (and the method for judging relevance is noted); and
  • if an index does not contain a value for a particular financial centre, a blank is entered against that centre (no average or mean is used).

 

The instrumental factors for the first edition of the GGFI are listed below:

 

Instrumental Factor

Source

Website

Business Environment

Energy intensity of GDP

Enerdata Statistical Yearbook

Website

Sustainable Cities Index

Arcadis

Website

Global Climate Risk Index

German Watch

Website

Lloyd’s City Risk Index  2015-2025

Lloyd’s

Website

Business Environment Rankings

EIU

Website

Quality of Living City Rankings

Mercer

Website

IESE cities in motion index

IESE

Website

Global Cities Index

AT Kearney

Website

Best Countries for Business

Forbes

Website

Big Mac Index

The Economist

Website

Bilateral Tax Information Exchange Agreements

OECD

Website

Business Process Outsourcing Location Index

Cushman & Wakefield

Website

City GDP composition (Business/Finance)

The Brookings Institution

Website

Common Law Countries

CIA

Website

Corporate Tax Rates

PWC

Website

Currencies

Swiss Association for Standardization (SNV)

Website

Ease of Doing Business Index

The World Bank

Website

Employee Tax Rates

PWC

n/a

FDI Confidence Index

AT Kearney

Website

FDI Inward Stock as a Percentage of GDP

UNCTAD

Website

Financial Secrecy Index

Tax Justice Network

Website

Foreign Direct Investment Inflows

UNCTAD

Website

GDP per Person Employed

The World Bank

Website

Global Competitiveness Index

World Economic Forum

Website

Global Connectedness Index

DHL

Website

Global Enabling Trade Report

World Economic Forum

Website

Global Services Location

AT Kearney

Website

Government Debt as % of GDP

CIA

Website

Inflation, GDP Deflator

The World Bank

Website

Legatum Prosperity Index

Legatum Institute

Website

OECD Country Risk Classification

OECD

Website

Operational Risk Rating

EIU

Website

Personal Tax Rates

OECD

Website

Political Stability and Absence of Violence/Terrorism

The World Bank

Website

RPI (% change on year ago)

The Economist

Website

Real Interest Rate

The World Bank

Website

Tax as Percentage of GDP

The World Bank

Website

Wage Comparison Index

UBS

Website

World Competitiveness Scoreboard

IMD

Website

Financial Services

Banks ratio of green energy to high carbon energy corporate lending      

 

Bloomberg BNEF

Website

Stock Exchange Sustainability Disclosure               

 

Corporate Knights

Website

Stock Exchange Carbon Intensity           

 

Corporate Knights

Website

Stock Exchange Ratio of Green to High Carbon Revenue     

 

Corporate Knights

Website

Climate Aligned Bond Issuance or listings as a fraction of total              

 

Climate Bonds Initiative

Website

Financial System Green Alignment Score

 

Corporate Knights

Website

GRESB Green Real Estate and Infrastructure Investment Score           

 

GRESB

Website

Green Finance MBA Strength  in Financial Centre    

 

Better World MBA Rankings

Website

Sustainability Rating of Stock Exchange Companies

Corporate Knights

Website

Sustainable Stock Exchanges

UN Sustainable Stock Exchange Initiative

Website

Green Bonds Data

Climate Bonds Initiative

Website

Green Equity Indices

NASDAQ

Website

Broad Stock Index Levels

The World Federation of Stock Exchanges

Website

Capitalisation of Stock Exchanges

The World Federation of Stock Exchanges

Website

Domestic Credit Provided by Banking Sector (% of GDP)

The World Bank

Website

External Positions of Central Banks as a share of GDP

The Bank for International Settlements

Website

Islamic Finance Country Index

Islamic Banks and Financial Institutions

Website

Liner Shipping Connectivity Index

The World Bank

Website

Net External Positions of Banks

The Bank for International Settlements

Website

Percentage of Firms Using Banks to Finance Investment

The World Bank

Website

Total Net Assets of Regulated Open-End Funds

Investment Company Institute

Website

Value of Bond Trading

The World Federation of Stock Exchanges

Website

Value of Share Trading

The World Federation of Stock Exchanges

Website

Volume of Share Trading

The World Federation of Stock Exchanges

Website

Human Capital

World Happiness Index

SDSN

Website

Citizens Domestic Purchasing Power

UBS

Website

Civil Society Index (CSI)

CIVICUS

Website

Corruption Perception Index

Transparency International

Website

Control of Corruption

The World Bank

Website

Cost of Living City Rankings

Mercer

Website

Crime Index

Numbeo

Website

Economic Freedom of the World

Fraser Institute

Website

Global Cybersecurity Index

ITU

Website

Global Innovation Index

INSEAD

Website

Global Intellectual Property Index

Taylor Wessing

Website

Global Peace Index

Institute for Economics & Peace

Website

Global Skills Index

Hays

Website

Global Terrorism Index

Institute for Economics & Peace

Website

Good Country Index

Good Country Party

Website

Government Effectiveness

The World Bank

Website

Graduates in Social Science, Business and Law

The World Bank

Website

Gross Tertiary Graduation Ratio

The World Bank

Website

Health Care Index

Numbeo

Website

Homicide Rates

UN Office of Drugs & Crime

Website

Human Development Index

UN Development Programme

Website

Human Freedom Index

Cato Institute

Website

Innovation Cities Global Index

2ThinkNow Innovation Cities

Website

Linguistic Diversity

Ethnologue

Website

Networked Society City Index

Ericsson

Website

Number of High Net Worth Individuals

Capgemini

Website

Number of International Association Meetings

World Economic Forum

Website

Open Government

World Justice Project

Website

Press Freedom Index

Reporters Without Borders (RSF)

Website

Price Levels

UBS

Website

Regulatory Enforcement

World Justice Project

Website

Regulatory Quality

The World Bank

Website

Rule of Law

The World Bank

Website

Sustainable Economic Development

Boston Consulting Group

Website

The Web Index

The World Wide Web Foundation

Website

Top Tourism Destinations

Euromonitor

Website

Visa Restrictions Index

Henley Partners

Website

World Talent Rankings

IMD

Website

Environmental and Infrastructure

Air Quality Data

WHO

Website

Average precipitation in depth

The World Bank

Website

City Commitment to Carbon Reduction

UNFCCC

Website

CO2 Emissions Per Capita

World Bank

Website

Crude oil input to refineries

Enerdata Statistical Yearbook

Website

Energy Sustainability Index

World Energy Council

Website

Environmental Performance

Yale University

Website

Forestry Area

World Bank

Website

Global Green Economy Index

Dual Citizen

Website

Global Sustainable Competitiveness Index

Solability

Website

Logistics Performance Index

The World Bank

Website

Metro Network Length

Metro Bits

Website

Protected Land Area %

The World Bank

Website

Quality of Domestic Transport Network

World Economic Forum

Website

Quality of Roads

World Economic Forum

Website

Railways per Land Area

CIA

Website

Roadways per Land Area

CIA

Website

Share of renewables in electricity production

Enerdata Statistical Yearbook

Website

TomTom Trafic Index

TomTom

Website

Climate Impact Vulnerability Index

ND GAIN

Website

Eco Innovation Index

EU

Website

Eco System Services

ND GAIN

Website

Environmental Democracy Index

Environmental Democracy

Website

World Risk Report

UN

Website

Buildings Energy Efficiency Policies Database

IEA

Website

ICT Development Index

United Nations

Website

JLL Real Estate Transparency Index

Jones Lang LaSalle

Website

Networked Readiness Index

World Economic Forum

Website

Office Occupancy Cost

CBRE Research

Website

Prime International Residential Index

Knight Frank

Website

Telecommunication Infrastructure Index

United Nations

Website