The Confederation of British Industry (CBI), London First, London Chamber of Commerce and Industry (LCCI), the Federation of Small Business (FSB) and New London Architecture (NLA) will join the mayor and London Councils in a ‘call to action’ to London’s businesses to decarbonise existing buildings.
The London Greener and Warmer Buildings Summit aims to find ways to accelerate building improvements across the city, and will set out the benefits of retrofitting, where you refurbish an existing building to make it more efficient, sustainable and better for the environment.
In order to meet London’s climate goal of making the city net zero carbon by 2030, almost all existing homes will need upgrading to improve energy efficiency and switch to low-carbon heating.
All 33 London local authorities have agreed seven climate targets, including the retrofitting of all London homes to an average EPC B rating by this date.
“Our homes are the greatest contributor to London’s greenhouse gas emissions, and the economic impacts of the pandemic and rising energy prices are likely to plunge even more Londoners into fuel poverty,” said Khan.
“That’s why I’m pleased to bring together business leaders and local government to discuss the importance of insulating homes and buildings which can both tackle the climate emergency and cost-of-living crisis.
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“Businesses must act now to meet this standard and act on them as soon as possible, and work with us to accelerate decarbonisation of London’s commercial buildings.
“To help, I’m expanding my Business Climate Challenge to support more businesses on the pathway to net zero.”
Sadiq aims to reach up to 250 businesses in the next year through the programme, which is developed in partnership with Bloomberg Associates, which is working with the mayor to offer free expert advice and support.
Gould added that, without significant upgrading of London’s homes and business premises, we will fail to meet one of the defining challenges of our time.
“The push for greener and more energy efficient buildings is set to bring immense benefits to Londoners.
“This is a vital opportunity to drive a green economic recovery, tackle fuel poverty, and cut carbon emissions.
“Boroughs are committed to working with our partners across the capital on this important agenda, which is integral to London’s ambition to become a net zero city.
“It also requires sufficient financial support from the government.”
Earlier this month, Khan committed an initial £90m in green bonds to help unlock over £500m to finance low-carbon projects.
In his manifesto, the mayor also committed to develop a Financing Facility for London, taking advantage of London’s expertise in finance to develop new approaches that will secure significant funds from the private sector.