How can we unlock the investment needed to deliver environmental activity at scale in London? How can we ensure that projects are available in the right format and at sufficient scale to attract this investment? These are some of the questions being addressed by the LSDC’s ‘Green Finance’ work.
Our Green Finance work
In his 2018 London Environment Strategy, the Mayor set out an ambition for the capital to be zero carbon by 2050, and for the city to transition to a low carbon circular economy.
Mobilising the public sector funding and private finance to deliver the scale and speed of activity required to meet this aim, and to achieve the Mayor’s wider environmental ambitions, is an important challenge highlighted in the London Environment Strategy and for achieving a sustainable world city.
Recognising this challenge, the LSDC has also identified green finance as a key part of its work programme. The LSDC will work closely with the GLA and others to identify and promote the actions needed to create demand for low carbon projects and options to finance these and wider environmental programmes in the capital, such as flood risk management, green sustainable urban drainage (SuDS) and green infrastructure improvements.
What the LSDC is doing
The LSDC has over the past few months held a series of exploratory roundtables with those involved in delivering and securing investment for programmes covering energy efficiency, low carbon heat and energy, flood risk management and green infrastructure. This has helped uncover some of the challenges related to funding and financing programmes, and to the delivery at the scale required to create a zero-carbon, sustainable city.
It will in early 2019 release its first report on the topic, which will cover energy efficiency and low carbon heat and energy. A second report, expected later in 2019, will cover flood risk management and green infrastructure.
If you are interested in getting involved in this work, or hearing more about it, please get in touch.