Luxembourg Remains EU’s Number 1 Green Financial Centre
In the 2024 edition of the Global Green Finance Index (GGFI 13), published in April, Luxembourg maintained its top position as the leading green financial center in the EU. The report reaffirmed Luxembourg's dominance across the EU in green finance. The country excelled in all four competitive areas outlined in the index, especially in Human Capital and Business, where it ranked first and second, respectively.
Commenting on the results, Nicolas Mackel, CEO of Luxembourg for Finance, noted that “financial centres are the epicentres of change in greening global finance and the results of the latest GGFI confirming Luxembourg’s role in this are testament to the work that continues to be undertaken in the Grand Duchy. Nonetheless, the journey towards sustainability requires continual innovation and collaboration globally to truly transform financial services into agents of environmental stewardship.”
The Global Green Finance Index (GGFI) is an index that ranks the world's financial centers according to their contribution to and development of green finance. It assesses the quality and depth of green financial products and services in these centers. The index is designed to evaluate factors such as the availability of green finance, the quality of the financial products offered, and the efforts made by financial institutions and governments towards promoting green finance. This includes financing for projects and initiatives that support environmental sustainability, such as renewable energy, sustainable agriculture, and conservation projects. The GGFI is intended to encourage financial centers to improve their green finance offerings and to help investors and policymakers assess where green finance is most readily available and effectively provided.
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