Focus on sustainability could help London boost long-term post-COVID economic recovery
Mumbai: May 28, 2021 - As economies around the world look to bounce back from the impact of the global pandemic, sustainable and green finance is a key factor that could help drive economic recovery and mitigate the effects of climate change. Among the leading global financial centres driving forward the sustainability agenda is London.
According to Z/Yen’s recent Global Green Finance Index (GGFI),the UK capital has maintained its position as one of the top five Western European financial centres for green finance. While financial centres in the Asia Pacific and North American regions closely compete with those in Western Europe in the rankings this year, Western Europe continues to dominate the top 10 centres in the index.
The City of London think tank surveyed 78 financial centres around the world, accessing the depth and quality of their green finance offerings. In Western Europe, London takes third place ahead of Paris and Brussels and closely behind Amsterdam and Zurich.
The UK launched its Green Finance Strategy in 2019 to align the country’s financial flows with clean, environmentally sustainable, and resilient economic growth. Since then, the Strategy has been driving forward the mainstreaming of green finance in the UK and abroad through various investments, like the establishment of the Green Finance Institute and the£1 billion Net Zero Innovation Portfolio.
About London & Partners
London & Partners is the business growth and destination agency for London. Our mission is to create economic growth that is resilient, sustainable and inclusive. We are a not- for-profit company and operate as a social enterprise, half funded by the Greater London Authority (GLA) and half from other sources including our portfolio of commercial ventures. For more information, visit: www.londonandpartners.com
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