Edinburgh has climbed eight places to reach position 14 in this year’s Z/Yen Global Green Finance Index — and reach position 8 in Western Europe — highlighting its continued reputational growth as a global hub for green finance.

The position places Edinburgh ahead of global financial centres including Seoul, Paris, and Chicago, and puts it within touching distance of Sydney, Zurich and Singapore.

Scottish Financial Enterprise CEO Sandy Begbie said: “The latest Z-Yen Global Green Finance Index is another mark of progress for Scotland’s ambition to be one of the world’s premier green finance centres.

“It’s hugely positive to see Scotland’s two largest cities carving out a name for themselves in this increasingly competitive arena and using their unique and historic strengths across areas like banking and asset management, as well as their growing strengths in different areas of technology.

“Scotland benefits from an incredibly diverse and high-quality financial services ecosystem which has made financing the journey to net zero a central priority.

“Working with stakeholders across business, government and broader society, we are ensuring that the big momentum we have seen, particularly since COP26, is underpinned by real progress to make sure we are taking advantage of the huge opportunities that green finance represents for Scotland.”