London has retained the top spot in a major ranking of the world’s best hubs for green finance. Western Europe’s financial sector continues to dominate the charts for its sustainability, infrastructure and human capital, with the top five spots on the table all being filled by cities on the continent.
Yet the global green finance index, which is produced by consultancy Z/Yen in partnership with Finance Watch, also warned that London’s position at the top could come to an end in the next 12 months, in part because the UK has not yet issued a sovereign green bond.
While London came top for in the ‘quality’ ranking for its green financial products and services, Amsterdam took the number one spot in a separate ‘depth’ ranking, which is measured by the intensity of green finance activity in the financial centre compared with all finance activity.
The report, shown exclusively to City A.M., found that awareness and concern about biodiversity risk within the financial services sector was still at “an extremely low level despite its potentially catastrophic impacts on financial asset values, the economy, and the planet”.
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