The US has ranked 10th in the International Finance Forum’s Global Green Financial Index, and third in the product and market category, according to the latest Global Finance and Development report.
According to the report, the US’s financial system is the largest source of ESG investment and one of the largest green bond issuers in the world, though due to the absence of a national green finance policy framework and relevant action plans, green finance development in the US is largely driven by market.
“As US financial institutions make up a large share of the global debt and equity markets, there are enormous opportunities and potential to scale up green finance in the country,” noted the report.
The report noted that countries such as the US and Germany ranked high due to their well-developed financial systems and capital markets.
Zhuang Juzhong, chief economist of IFF, said: "This is the first year that IFF is releasing the GFDR report and it will be released annually during IFF global meeting in the future.
"The report aims to provide an annual assessment of global economic trends and prospects, financial development and innovation, and address long-term challenges and policy issues based on cross-country data, and eventually, promote international discussion and cooperation.”