Climate and Sustainability Indexes as Drivers of Investment in Green Energy. An Empirical Analysis of CCPI, ESG, and Their Impact on Venture Capital and Country-Level Investment Trends

The transition towards a sustainable economy is increasingly shaped by financial incentives and policy-driven indexes such as the Climate Change Performance Index (CCPI) and the Environmental, Social, and Governance (ESG) Index. This thesis investigates the statistical relationship between these indexes and country-level investment dynamics, with a particular focus on Venture Capital investments in green energy companies. A range of statistical and econometric approaches will be considered to assess how sustainability indicators may influence investment patterns. The analysis will also explore the role of additional economic variables, including market conditions, policy frameworks, and financial incentives, to determine their potential interaction with CCPI and ESG scores. Furthermore, the study will investigate whether these indexes are associated with differences in the geographical distribution of green energy companies and the clustering of VC-backed firms. By integrating multiple perspectives, this research aims to provide insights into the potential drivers of sustainable investment and the role of policy and financial markets in supporting the green energy transition.