London would require private sector finance to the tune of £75bn to meet the target of being net-zero by 2030.

Speaking at the Reuters IMPACT Conference, the Mayor of London, Sadiq Khan, reflected that the summer’s heatwave has had dramatic social and economic costs , and that: “for decades, we’ve known this train has been hurtling in our direction. But it’s only now that it’s finally caught up with us that the sense of crisis is at its most acute”.

The Mayor added that in order for London to meet the 2030 net-zero target, London will need over £75bn worth of investment, and that this level if investment could not be met by public funds alone.

He appealed to the private sector to grasp the opportunities of green finance and create a sustainable economy that could deliver profits for businesses, and security and prosperity for all.

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