Instrumental factors for the Global Green Finance Index (Page under construction)

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 initial list of instrumental factors proposed 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