The thirteenth edition of the Global Green Finance Index (GGFI 13) was published on 23 April 2024. GGFI 13 evaluates green finance offerings from 96 major financial centres around the world. The GGFI serves as a valuable reference into the development of green finance for policy and investment decision-makers.
There appears to be strong confidence in the development of green finance in financial centres, with every centre’s rating in the index moving up in this edition, and the average rating up 4.21% compared with GGFI 12.
The centres which perform well in the GGFI continue to be places that are committed to environmental development across the economy as well as directly in finance, and in building their skills for green finance for the future. Centres such as London, Geneva, Zurich, and New York have a commitment to providing sustainable improvement and continuing to build their green infrastructure.
Among those responding to the GGFI survey, Energy Efficient Investment, Disinvestment From Fossil Fuels, and Green Insurance are rated as the areas of green finance with most impact. Risk Management Frameworks, International Initiatives, and Renewables are listed by respondents as the major drivers of green finance.
On international initiatives, while some progress was made at COP 28 in terms of commitments to the Loss And Damage Fund and new commitments to the Green Climate Fund. However, the New Collective Qualitative Goal, which will set the future requirements for adaptation finance, will be taken forward at COP 29 later in 2024.
In the supplement to this edition of the GGFI, we review the current and potential future of the hydrogen economy as an element of the transition to sustainable fuels, and in particular its use in industry and transport. Respondents to the GGFI survey predict that hydrogen is most likely to replace fossil fuels in steel production and the chemical industries.
Index Results