These dedicated green investment entities have been established at national level (Australia, Japan, Malaysia, Switzerland, United Kingdom), state level (California, Connecticut, Hawaii, New Jersey, New York and Rhode Island in the United States), county level (Montgomery County, Maryland, United States) and city level (Masdar, United Arab Emirates). These goals are reflected in the range of metrics GIBs use to measure and track their performance and demonstrate accountability: emissions saved, job creation, leverage ratios (i.e. private investment mobilised per unit of GIB public spending) and, in some cases, rate of return. For example, the UK Green Investment Bank must invest on commercial terms and has to meet a minimum 3.5% annual nominal return on total investments, after operating costs but before tax.