Green economy growing strongly in London, UK

According to a report released by Mayor Boris Johnson, the green economy in London, UK, is growing strongly despite the economic downturn. The low carbon and green economy sector has been growing by four per cent per year and currently includes 9,000 companies employing 160,000 people. The sales value of the sector is estimated to have been at least £23 billion ($36 billion CDN) in 2009-10.

The largest share of the green economy is in carbon finance, with nearly 2,000 companies employing over 23,000 people and worth nearly £6billion. Other strengths are reported to be ground source heat pumps, local heat networks and combined heat and power plants, solar/photovoltaics, and waste management.

The Mayor’s press release is at http://london.gov.uk/media/press_releases_mayoral/new-figures-show-green-economy-london-vibrant-and-bucking-downturn

A summary of the report by Innovas Solutions Ltd. can be downloaded from http://www.london.gov.uk/publication/london-low-carbon-market-snapshot-2011

A description of London’s climate change mitigation and energy strategy is available at http://www.london.gov.uk/who-runs-london/mayor/publication/climate-change-mitigation-energy-strategy

London’s Mayor Boris Johnson is a Conservative politician first elected to the House of Commons in 2001 and subsequently elected Mayor of London in 2008. London’s population is estimated at about 7.8 million and the economy generates more than $400 billion annually.

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