UK Secures Eighth Consecutive Year as Top Green Finance Hub, Says London Mayor

London Hosts Fifth Annual Net Zero Transfer Conference

In the context of London hosting the fifth annual Net Zero Transfer Conference this week, it's worth reflecting on the world we've navigated since 2022. Just four years ago, businesses and communities were recovering from the COVID-19 pandemic, war had returned to Europe with the invasion of Ukraine, and soaring fuel and food prices had driven global inflation to record levels. Since then, global instability has only intensified, with conflicts in the Middle East and tariff wars disrupting global trade.

We must confront the difficult truth that the relative stability among major powers that has shaped the period since World War II—what historian John Lewis Gaddis called the "Long Peace"—was in fact an aberration. We are living in an era of greater geopolitical flux, more rapid innovation, and more intense global competition than ever before.

The Critical Importance of Climate Resilience

As I travel to overseas markets in my capacity as Mayor, one thing remains unchanged. Regardless of local perspectives on net zero or climate change, businesses and government leaders are acutely aware that climate resilience is no longer a luxury or an afterthought, but an essential requirement. The World Meteorological Organization has reported that global natural disasters have increased fivefold over the past 50 years. The 2025 California wildfires, for instance, are estimated to have caused insurance companies approximately $40 billion in losses, representing one of the largest insurance losses in history for a single wildfire event.

The business case for greater climate resilience and adaptation is clear. So too is the case for accelerating the transition to clean energy in high-emission industries and expanding carbon credit markets. These measures not only give us a genuine opportunity to reduce the growing pressures of climate change, but also create jobs, opportunities, and innovation in the United Kingdom and globally.

Moving Beyond Hesitation in Climate Action

However, I sense among business leaders and sustainability professionals a genuine desire to move beyond stop-start approaches and hesitation in climate action. They want to know who is achieving consistent results, who has models we can follow, who has the talent and expertise to deliver at scale, and where they can easily raise capital for clean energy projects. The answer to all these questions is London.

During my time as Mayor, I have worked with the city's business associations and companies to launch the Team UK campaign, elevating a confident, evidence-based story about the strength of London and the UK as a global financial center. We have the largest and most active capital markets in Europe, the most fintechs in Europe, are the third-largest technology center globally, and also perform strongly in sustainable and green finance. This is a story we need to tell; it's what the world needs to hear.

The Mayor's role is to act as a bridge between capital and opportunity, and that's precisely why events like the Net Zero Transfer Conference, part of London Climate Action Week in partnership with Bloomberg, are so important. This is where the right leaders gather, the right conversations happen, and new partnerships are formed to turn commitments into action.

Mark Carney, now Prime Minister of Canada, delivered the keynote address at one of our early climate finance conferences when he was Governor of the Bank of England. His words from that speech remain valuable today: "When climate change becomes a defining issue for financial stability, it may be too late." In my role as Mayor, the best I can do is facilitate the coming together of world leaders to chart a stronger course—and that stage is set in the Square Mile and happening at the Net Zero Transfer Conference.

These are not just opportunities; we are on the threshold of a green revolution that everyone can participate in.