Green New Deal Fund: London invests GBP 10 million in sustainable recovery

The Mayor of London, Sadiq Khan, launched the first part of London’s Green New Deal fund. The investments of GBP 10 million aim to boost green jobs, tackle climate change, and address inequalities. This first phase of the package is expected to secure around 1,000 green jobs—for instance, related to solar panel installation and energy efficiency—and save up to 20,000 tonnes of carbon dioxide annually. Three areas will benefit from the investments:

  • Decarbonization of the built environment: Part of the funding will go toward programs reducing energy-related emissions and making homes more energy efficient, tackling fuel poverty and health issues in the city.
  • Green transport and the public realm: The package aims to encourage active transportation and electric vehicles, improve access to green spaces, and foster climate adaptation.
  • Green foundations: Funding is earmarked to support businesses, job opportunities, and training in London’s low-carbon economy.

The fund supports the London Recovery Board’s ambition to double the size of the green economy in the city to GBP 100 billion by 2030. Launching the first part of the package on November 19, Sadiq Khan said:

“I am delighted to be investing GBP10 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.”