Sadiq Khan invests £10m in Green New Deal

The Mayor of London has invested £10 million in green projects that will support around 1,000 green jobs to boost London’s economic recovery and tackle the twin dangers of air pollution and the climate emergency.

The first phase of the fund will secure around 1,000 jobs for Londoners, and support the green industries that are crucial to meeting the city’s climate targets and recover from the economic and social impacts of coronavirus. The jobs will be in areas such as solar panel installation and other programmes to make homes more energy efficient.

The Mayor’s Green New Deal Fund supports the London Recovery Board’s ambition to double the size of the green economy in London to £100 billion by 2030, an ambition that would kick-start greater job growth over the next decade.

The announcement demonstrates Sadiq Khan’s commitments to tackle the climate emergency including setting a bold target to make London a zero carbon city by 2030 and having a climate plan for London that is compatible with the highest ambition of the Paris Climate Agreement. It is believed that once projects from the first £10 million fund are completed, they will save up to 20,000 tonnes of CO2 per year directly and support the ability to rapidly scale up further carbon savings across London.

The initial £10 million investment from the GLA will be broken down into three areas: decarbonising the built environment; green transport and public realm; and green foundations.

Khan said: “I am delighted to be investing £10 million in projects that will create green collar jobs in London as part of our Green New Deal that will both support our economic recovery from Covid, and tackle inequalities faced in our city. The funding will directly help those most likely to experience cold and damp homes, and also support Londoners with limited access to green space. We must rebuild our city post Covid so that it’s cleaner, greener and fairer.

“With just under a year to go until the UK hosts COP26, the government this week set out its ambition for meeting its climate targets, but this can only be achieved if the government gives cities the power and funding they need to deliver. We have a proven track record that shows when cities are empowered to deliver, they are given the ability to deliver the transformation that we need to our economy and society.”