The Court of Common Council has approved an ambitious plan to eliminate the City’s carbon dioxide emissions by 2040, investing 68 million pounds to tackle climate change and create 800 jobs over the next six years.
Plans will include:
- A new climate action fund managed by the corporation and other businesses in the Square Mile to invest in zero carbon technologies
- Aligning the City of London Corporations investment portfolio with the goals of the Paris Agreement
- Using its role in planning to influence others to embed carbon analysis into capital projects
- Requirement for new developments to have carbon-reduction plans in their designs