Green Finance Capital
Question No: 2024/2268
Question (Thomas Turrell AM) 18th July 2024
What’s your roadmap for making London the green finance capital of the world?
Answer (Sadiq Khan) 23rd July 2024
London is already the green finance capital of the world. London is ranked first globally for green finance and carbon finance was worth £19 billion in sales to the economy in 2023.
In 2023 I launched the London Climate Finance Facility to accelerate investment into London’s environmental priorities. My green finance programme, since 2018 has made £1.1 billion of finance available to support net zero projects in London through my Green Finance Fund, Mayor’s Energy Efficiency Fund and London Edge Fund. The approach taken by my Mayor’s Energy Efficiency Fund is now being replicated in other regions in the UK.
The London Climate Finance Facility is demonstrating how public sources of capital can be used to provide low-cost, flexible finance to projects.
Work continues to identify new financial mechanisms where the market has failed to attract investment at the scale needed, and we will continue to share learnings nationally and internationally.
