"These results highlight the importance of both public and private entities considering market economic opportunities hand-in-hand with the incentives, policies and cultural considerations that are critical for green building," says Theddi Wright Chappell, managing director and national practice leader of C&W's national green building and sustainability practice, in a release. "If it's not financially sustainable, it's not sustainable."

Reportedly the first of its kind, the index compares a market's relative position to its peers in six categories: office market conditions, investment outlook, green adoption and implementation, local mandates and incentives, state energy initiatives and green culture. The top three markets in the local mandates and incentives ranking were Manhattan's three submarkets, and Downtown also led the way for green culture, followed by Portland, OR and Miami.

For office market conditions, Minneapolis, Orange County and Houston comprise the top three, while San Francisco, Boston and Midtown South are ranked best for investment outlook. Chicago, Denver and Washington, DC top the list in the green adoption and implementation category, and California is home to the three best markets for state energy initiatives: San Francisco, Oakland and Los Angeles.