Boris Johnson, London’s mayor, has announced the launch of an energy efficiency fund that will help local authorities such as schools and hospitals in the city reduce their carbon emissions. The fund should provide as much as GBP 100 million.
The London Energy Efficiency Fund will be managed by the Amber Green Consortium, led by Amber Infrastructure Ltd. and including Arup as technical adviser and Royal Bank of Scotland PLC (RBS).
The fund is the first of its kind in Europe and aims to help London’s public buildings reduce their carbon emissions, which currently amount to 4 million tonnes a year, or 10% of the capital’s overall carbon footprint.
Of LEEF’s funding, GBP50 million comes from the European Regional Development Fund, London Development Agency and London Waste and Recycling Board, while another up to GBP50 million comes from RBS. The total amount is expected to be invested fully by 2015, and will be managed and operated by the consortium for 10 years.
London, September 2, 2011, (Dow Jones)
