London Climate Action Week a success, claims Jackson

The end of June brought London Climate Action Week to a conclusion and Jacqueline Jackson, head of responsible investment at London CIV reflected on the event being a great success.

“I am inspired by the commitment and ambition demonstrated during London Climate Action Week 2023. The United Kingdom has set a commendable example by taking a leading role in assessing climate change impacts and enacting the net zero emissions law ahead of other major economies. London, in particular, has exemplified its dedication to combating climate change by advancing its carbon neutral target from 2050 to 2030.

“With its high population density, robust public transport infrastructure, and comparatively low levels of heavy industry, London currently boasts the lowest carbon emissions per person among all English regions. However, we must remain vigilant, as projections indicate that climate change could severely impact 1.25 million people living in London and £277 billion worth of assets in our capital city by 2050.”

London has a crucial role to play in climate change policy as the most populous region and urban zone in the UK, contributing nearly a quarter of the country’s GDP, said Jackson. London CIV recognises this responsibility and is fully committed to demonstrating positive action and leadership.

London local authorities and its pension funds will have greater opportunity to collaborate by allowing direct and much-needed local infrastructure development funding to come from institutional investors.

“By collaborating effectively, we can spearhead the transition towards a sustainable future,” added Jackson. “The need for continuous transformation in public transport, housing and utilities infrastructure required by local authorities, may pave the way to increasingly viable direct and much-needed local development funding from Institutional Investors such as the LGPS, who are also looking for socially and environmentally innovative investment opportunities.

“London Climate Action Week provides an invaluable platform for fostering partnerships and knowledge sharing to drive impactful solutions. It is an opportunity for us to leverage our collective expertise, resources, and influence to tackle the urgent climate challenges we face. Together, we can pave the way for a greener, more resilient London and set a powerful example for other cities worldwide.”