The governing body of London’s financial district has unveiled a series of green energy proposals it hopes will see the city source 100% renewable electricity from October this year.
Announcing the move earlier this week, the City of London Corporation said it would generate electricity on buildings it owns across the capital, and invest in off-site green energy.
It plans to increase the number of solar panels installed on its sites, buy more renewable energy already available on the market, and boost investments in wind and solar farms.
“By generating our own electricity and investing in renewables, we are doing our bit to help meet international and national energy targets,” the City of London Corporation’s policy and resources committee chair, Catherine McGuinness, said.
“Sourcing 100% renewable energy will make us cleaner and greener, reducing our grid reliance and running some of our buildings on zero carbon electricity.”
The corporation manages a wide portfolio that includes social housing across six boroughs and 11,000 acres of green space, including Hampstead Heath and Epping Forest.
It is also a major public services provider in the capital, as well as an investor in properties and other corporate buildings.
The latest proposals are hoped to reduce the city’s reliance on carbon, boost its energy resilience, drive higher demand for renewable energy, and facilitate long-term savings on energy costs.
They follow plans unveiled by Mayor Sadiq Khan last month to make the capital a zero-carbon city by 2050 through energy efficient buildings, clean transport and increased recycling.
“This is a big step for the City of London Corporation and it demonstrates our commitment to making us a more socially and environmentally responsible business,” McGuinness continued.
“We are always looking at the environmental impact of our work and hope that we can be a beacon to other organisations to follow suit.”
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