LONDON Reuters - The mayor of London urged business leaders to invest in climate solutions, saying that the British capital would need another 75 billion pounds $84.05 billion in investment to meet its climate goals.
Sadiq Khan warned that no one will be able to claim with any credibility that we were not given a fair warning, despite infrastructure damaged by extreme heat to homes damaged in wildfires. The mayor said that while the doors of Whitehall may be closing to climate action, the doors of City Hall will remain open for as long as I'm in office, despite the new conservative government of Prime Minister Liz Truss. Since taking office, Truss has reversed a ban on drilling for natural gas and announced fiscal plans to cut the highest income tax on Monday - a policy that the government reversed on Monday as part of a package of financial measures that sent sterling and British government bonds into a meltdown.
Khan stated during his opening address at the Reuters IMPACT climate conference in central London that he was working to reach net-zero emissions by 2030 in order to avoid a catastrophic climate crisis. The city's activities include investing in green jobs and infrastructure, decarbonising buildings, opening more cycling lanes to discourage driving and promoting electric vehicles.
London would need more help, he said.
Khan said that over 75 billion pounds of investment is needed. We can't deliver this without the private sector.