Investing in London's low carbon future
The low carbon economy of the future is a great opportunity for London, and we are planning how we can build and boost the market for green products, services and jobs
In 2010/11, we will be:
- investing to reduce London’s carbon pollution
- attracting funding from the European Union and other sources
- cutting London’s carbon pollution and helping Londoners save on energy bills
- working in partnership with the Mayor, London’s boroughs, private organisations and the third sector.
The London Development Agency (LDA) aims to combat the effects of climate change without compromising the quality of life of Londoners and the business competitiveness of the capital.
London produces over 40 million tonnes of carbon dioxide every year. We want to reduce London’s dependence on fossil fuels, cut the waste generated in the capital and reduce carbon emissions by 60% by 2025.
Our activities
The LDA will invest £23 million this year to cut London’s carbon pollution. Our new scheme to retrofit homes to cut their carbon emissions and save on their energy bills has been developed with London’s boroughs and could reach up to 1.2 million homes by 2015.
We are using our influence to persuade energy companies to increase their energy-efficiency spending in London. We are retrofitting London’s public-sector buildings to drastically cut their carbon emissions and their running costs.
We are setting up the London Green Fund to channel investments into environmental programmes in London. Our ‘Low Carbon Capital’ proposals will help drive London’s transition to a low carbon economy.
We are working with London’s leading businesses and organisations through the Green500 and Better Buildings Partnership to get measurable reductions in carbon pollution from individual businesses and London’s commercial buildings.
Long-term investments in schemes like the London Thames Gateway Heat Network will ‘de-carbonise’ London’s energy supply and capture ‘waste’ heat from power stations and other industries, and convert it into low carbon heat for homes and businesses.
The LDA is also working with the Mayor of London to promote a greener London, from planting street trees – and therefore helping to reduce London's ‘urban heat island’ effect – to investing in open spaces and the East London Green Grid.