London’s boroughs have called on the government to increase council funding to drive forward the retrofitting of energy-inefficient buildings and aid a green recovery post-Covid.
The boroughs have identified 375 shovel-ready projects, including 18 large-scale public buildings and 29 schools, equating to a £1.35bn pipeline.
An additional £115m over 2020 and 2021 is needed to push forward the programme, London councils have said in a submission to the government’s upcoming spending review.
London’s local authorities said they had already found more than £950m of the funding required, but with an £800m shortfall across the boroughs expected due to the impact of Covid-19, the government funding is vital.
The councils have argued that homes and workplaces are estimated to account for 78% of CO2 emissions in London and that investing in retrofitting to create energy-efficient properties would not only create around 2,000 jobs, help the country meet the 2050 target for net zero greenhouse gas emissions and reduce energy bills, it would help lower London’s high fuel poverty rates.
They have also urged the government to introduce a separate borrowing rate at the Public Works Loans Board for councils to access finance for green infrastructure.
Philip Glanville, mayor of Hackney and chair of the London councils transport and environment committee, said: “Investment in a green recovery is essential for securing our environmental and economic future.
“The investment case is a no-brainer. Funding retrofitting projects brings immediate benefits to Londoners such as new jobs and lower fuel bills while also addressing the climate emergency and helping us reduce carbon emissions.
“London’s 32 boroughs since 2016 have already improved the efficiency of more than 32,000 of London’s homes and around 700 public sector buildings.”
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
