By 2018, London's financial district will be powered exclusively by renewable sources, thanks to an investment plan that includes the construction of solar and wind installations.
The City of London Corporation, the body that manages London's historic financial district, also known as the "Square Mile", has announced its intention to power all of its properties with 100 per cent renewable energy by the end of the year.
The City of London Corporation owns many properties; its holdings include social housing across six London boroughs, 10 schools, three markets and 44.5 square kilometres of green spaces throughout the city.
"It's a great step for the City Corporation and demonstrates our commitment to making ourselves a more socially and environmentally responsible organisation. Sourcing one hundred per cent renewable energy will make us cleaner and greener, reducing reliance on the grid and making some of our buildings zero-emission," said Catherine McGuinness, chair of the corporation's policy and resources committee.
The commitment made by the City of London Corporation will result in an increase to its current renewable portfolio. The corporation already uses clean energy for Parliament Hill Lido, the swimming pool at Hampstead Heath — the large public green space in north London — and for the Warren in Epping Forest, located in Essex.
The corporation plans to build several solar and wind farms on its land, invest in renewable energy installations and purchase renewable energy on the market.
"We are always mindful of the environmental impact of our work and hope to act as a beacon for other organisations that may follow our example. By generating our own electricity and investing in renewable energy, we are doing our part to help meet national and international energy targets," added Catherine McGuinness.
The Mayor of London, Sadiq Khan, has pledged to make the capital a zero-emission city by 2050, with at least 50 per cent of total electricity demand met by renewable energy. Over the next decade, the Mayor hopes to increase London's solar capacity twentyfold, reaching 1 gigawatt by 2030 and then 2 gigawatts by 2050. The initiative forms part of the Energy for Londoners programme, which will invest £34 million (approximately €39 million) to create cleaner, more energy-efficient homes and workplaces.
The county of Greater London has been among the leading forces globally pushing for change, with a focus on electric vehicles, renewable energy and green spaces. Electric taxis and buses are common throughout the city, and last December the Mayor announced his intention to extend London's Ultra-Low Emission Zone regulations to buses, coaches and lorries, and to expand the zone to include the north and south circular roads. Mayor Khan is also strongly committed to making London the world's first National Park City (by 2019), with the aim of increasing the number of trees and green infrastructure around the city.