Europe is leading the world when it comes to the transition to a green and sustainable economy. The first place was achieved thanks to a huge number of ESG start-ups and a revolutionary energy storage system. In addition, green transportation is the norm all over Europe. Berlin has 1,697 kilometers of bike lanes, making the city the largest bike network in Europe. Moscow has the largest fleet of 800 electric buses in Europe, as well as the most number of public cars - 26,000. The London Underground extends over 400 km. The first place in the ESG ratings is confirmed by facts: 10 out of 12 European cities scored 75% in the UN survey, and by the sympathy of the citizens.
As the undisputed investment capital of Europe, London leads the way in terms of ESG readiness for innovation. It tops the rankings in 3 of the 4 sub-indices, has the highest number of entrepreneurs, the highest number of ESG investments, and has strong public support for sustainable development with an unprecedented number of bottom-up initiatives as well as corporate investments and acquisitions in the ESG sectors.
The Russian capital competes equally with London and other European centers in 3 out of 4 sub-indexes, even leading in ESG management because of the active promotion of ESG innovation by the government and Russian corporations. Moscow creates EdTech solutions faster than anyone else: 30% of its startups are focused on EdTech, while the continental average is 14%.
The French leadership's focus on innovation and strong private sector support is reflected in Paris' ranking in the Startup Innovation Index. Paris' greatest strength is its unrivaled ESG support, as well as its corporate innovation culture and international connections. Paris has become the second largest market for ESG startups in Europe. Paris-based corporations such as PSA Group, Engie, Société Generale or BlaBlaCar acquire new startups from all over the world.
The German capital gets the highest marks in entrepreneurship support thanks to the second largest number of business accelerators in Europe after London and the large volume of seed investments in ESG startups ($2 to $3 million on average). What's also encouraging is the speed at which these business accelerators are switching their attention to ESG: 31% of startups in the top seven business accelerators in Berlin work in one of the ESG sectors.
The Catalan capital excels in management and international connections thanks to the city's good transportation infrastructure, which makes the city a great market for startups related to public transportation and management. The length of the metro line per capita exceeds that of higher-end London and Moscow.
In the future, more and more cities will emphasize the development of ESG and support for start-ups, because this sector of the economy has a huge potential for development and attracting investment. «Green" initiatives will become the main engine of development in the cities of the future.