Funding to stimulate London green economy

The continued funding of key energy efficiency projects has boosted the Mayor's ambitions for London to be world-leading low carbon city attracting green investment and jobs.

The Mayor’s office says that £116.5 million of investment in low carbon projects is available from a mix of private sector, the London Green fund and other European programmes.

The Mayor wants to encourage commercially viable programmes which attract private investment so that there is less reliance on public funding.

The Mayor believes London has the capacity to attract £40 billion of investment and create 200,000 jobs over the coming decades.

The key programmes to continue are the RE:NEW homes energy efficiency programme, the ten low carbon zones, work on the waste and energy infrastructure and RE:FIT buildings energy efficiency projects.

The Mayor of London’s environment advisor, Isabel Dedring, said: “Creating an energy efficient society is a profitable enterprise as well as being good for the environment.

“The only way we will get the large scale carbon reductions and the associated energy savings required to tackle climate change is by using public sector funding to attract commercial investment.

“We are focused on drawing into London, global business partners and funding from Europe, to deliver the massive green job opportunities. This is to ensure that for every pound invested by the taxpayer, we can attract many more back.”

Alison Brown

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