Switching to a low-carbon economy offers cities “significant economic opportunities”, an assessment says. Low-carbon markets was worth US $33bn (£26bn) to London’s economy, the Carbon Disclosure Project (CDP) said in its latest report. However, collaboration between public and private sectors was an essential ingredient needed to deliver economic growth and carbon cuts, it observed. The findings examined the commitments made by 533 cities around the world. The report, It Takes a City: The Case for Collaborative Climate Action, added that the cities spread over 89 nations had identified more than 1,000 economic opportunities linked to climate change. Almost 300 cities featured in the report were also developing new business industries, such as clean technology. CDP, formerly known as the Carbon Disclosure Project, describes itself as “an international, not-for-profit organization providing the global system for companies, cities, states and regions to measure, disclose, manage and share vital environmental information”. The report was published by CDP and AECOM, a multinational engineering firm, and sponsored by Bloomberg Philanthropies. Maia Kutner, head of cities at CDP, said that many cities were already collaborating with businesses so there was “no need to reinvent the wheel” in order to get the two sides talking to each other. A report commissioned by the mayor of London in 2013 suggested that the low-carbon sector was worth in excess of £25bn to the city, and had recorded “solid growth” during the economic downturn. Government figures estimate that the sector could double in size by the middle of the next decade. Other UK cities highlighted as looking to benefit from reducing carbon emissions include Birmingham and Manchester. Earlier this year, a report suggested that Leeds should be the first UK city to convert its gas grid to hydrogen to help meet carbon reduction targets. Globally, the most popular carbon-reduction measure was finding ways to use energy more efficiently.
BBC 5th Oct 2016 read more »