It has been announced that London has been designated as a Low Carbon Economic Area (LCEA).
It received the designation for energy efficient building and is the seventh area to be recognised under the scheme, the government strategy for a low carbon economy. It highlights £90 million of invested funding towards more sustainable building projects that have taken place recently by regional development agencies, rather than bringing new investment from the government.
£72 million has been earmarked by the London Development Agency for a range of new developments and schemes to improve sustainability and energy efficiency in London buildings until 2013.
It is certainly a worthy cause, as buildings account for 71% of London’s CO2 emissions, the equivalent of 31.5 million tonnes of carbon a year.
The Department of Business, Innovation and Skills want to put the initial focus on retrofitting existing buildings to be more energy efficient and reduce existing emissions. The bulk of London’s buildings really need this as there aren’t that many new developments, retrofitting existing structures to meet new energy standards will truly make a difference in the capital, which will act as a benchmark for the rest of the world.