£100m fund to make London's public buildings greener

The Mayor of London has announced a £100m fund to help make hundreds of buildings in London greener.

London's public buildings are responsible for ten per cent of the capital's carbon emissions.

Retrofitting these buildings with energy reduction measures will cut fuel bills and emissions, and is also estimated to be worth billions to the London economy, which will create jobs and help develop skills.

Flexible finance available from the fund will pay for measures including efficient lighting systems, ventilation and boiler upgrades, smart meters and solar panels. Returns on initial investments are made through resulting energy savings.

A team of experts will be available to help speed public buildings through retrofitting programmes.

This is part of the Mayor's overall plan to retrofit London's buildings which are responsible for 80 per cent of carbon emissions. Retrofitting delivers value for money through the more efficient use of energy resulting in reduced energy costs and significantly contributes to the Mayor's ambitious carbon reduction targets.

The Mayor has agreed a £50m contribution from the London Green Fund to set up this new fund, which will be known as the London Energy Efficiency Fund (LEEF), and will be led by Amber Infrastructure Limited.

It is anticipated that many of the projects to be funded will use the Mayor's RE:FIT programme model. Buildings that have already taken up scheme have seen their energy efficiency improved by as much as 40 per cent.

The Mayor of London, Boris Johnson , said: "This multi-million pound fund will assist in improving the efficiency of the capital's public buildings."

"It is a great example of the type of innovative thinking that will stimulate green economic growth for the capital while also saving taxpayers’ money on energy bills."

Further information:
Greater London Authority