London and the world face a climate crisis and ecological emergency which directly threatens economic growth.
London has two huge economic opportunities from the transition to net zero: the domestic growth created by the capital’s own green transition; and the export growth from selling London’s green innovation and green finance to the world.
Why it matters
Decarbonising London will take massive investment in power, transport, homes and businesses, which will drive new jobs and innovation[31].
London’s challenge is to unlock that investment quickly. That needs a pipeline of green growth projects that are investible, an approach to planning that gets them moving quickly and a major expansion of the green supply chain to deliver them.
London is a global leader in green innovation across a broad range of sectors: the global centre of green finance, frontier innovation in areas like sustainable materials and energy sources, and applied innovation like climate tech, proptech and urban mobility. London’s challenge is to grow these sectors fast. That means supporting frontier innovation, scaling ambitious businesses and boosting exports.
Our ambition
Accelerate progress towards achieving London’s net zero target for 2030.
2030
net zero city
What we will do
How we will achieve our twin goals of tackling climate change and accelerating growth:
- Enable private sector investment and action
- Institutional capital investment: Increase institutional capital investment into zero carbon infrastructure and real estate. The plan for this is in investment and promotion.
- Business climate action: Support businesses to decarbonise and adapt to climate change. The plan for this is in backing our businesses.
- Supply chain and infrastructure mobilisation
- Net zero infrastructure: Coherent plan for London’s infrastructure and the investment needed for it. This is covered in housing and infrastructure.
- Green skills: Massive collective investment in the skills needed for London’s green transition. The plan for this is in inclusive talent strategy.
- Electric grid capacity: Plan to significantly increase grid capacity to accommodate electrification of transport and heating, while powering the data centres on which London’s economy will increasingly depend. The plan for this is in housing and infrastructure.
- Grow green innovation
- Scale London’s green innovation businesses to become global players. The plan for this is in backing our businesses.
- Make London’s public sector a green innovation accelerator as a major buyer, data provider and enabler of tests and pilots. The plan for this is in backing our businesses.
- Foreign direct investment: Attract international green innovation businesses to set up in London. The plan for this is in investment and promotion.
Opportunities to drive growth
Discover London’s live investible opportunities with Opportunity London.
Discover the key actions
Inclusive talent strategy
Explore our plan to unlock the potential of London’s skilled workforce and drive the economy.
Backing our businesses
Discover how we will continue to support London businesses from high streets to startups.
Housing and infrastructure
Understand London’s priorities for building new homes and infrastructure to boost growth.
Investment and promotion
Find out how we will win more investment in growth and build London’s global reputation.
Local places
Learn how London will create more local places where businesses can grow and support their communities.
Sources:
31. An estimated £75bn is required according to the Greater London Authority (2022), London Net Zero 2030: An Updated Pathway [PDF 487 KB].