‘Green business worth £25billion to London economy’ - City Hall

12:42 05 September 2013

Boris Johnson with a solar panel on the roof of the Crystal near Canning Town, home to an urban sustainability exhibition. Picture: Steve Poston

Boris Johnson with a solar panel on the roof of the Crystal near Canning Town, home to an urban sustainability exhibition. Picture: Steve Poston

Archant

There are more than 9,200 green businesses in the capital employing in excess of 163,500 people, according to a report for the Mayor’s Office published today.

Boris Johnson said the findings proved that tackling climate change led to economic growth, with the number of jobs in London’s green economy having increased by 2.4 per cent since 2009/10.

The report, which analysed London’s low carbon and environment goods and services sector, found it is worth approximately £25.4billion to the capital’s economy, having grown by about five per cent in each of the last two years.

Mr Johnson said: “This report proves that cities taking climate action can expect economic growth.

“London is becoming the ‘one-stop shop’ for low carbon and environmental services – providing the goods, skills and financing every city needs to make its transition to a low carbon, resource efficient economy.”

Green growth is expected to continue at a rate of six per cent a year, according to the report.

Mayoral environment adviser Mathew Pencharz said: “As our carbon finance sub-sector continues to grow our city is also consolidating its strength in other significant areas of the green economy, such as renewable energies and low carbon building technologies.

“These will equip London to be at the forefront of growing global markets in the battle to reduce our carbon emissions and make our cities more resilient in the face of climate change.”