COMMENT This spring, Londoners will once again take to the polls to vote for the capital’s next mayor. Whether Sadiq Khan remains in office or someone new takes the helm, London’s leadership will preside over a pivotal point in the city’s history.
Not only will they be required to navigate London through the shifting political circumstances, they will be responsible for taking the lead towards building a carbon-neutral city.
This is by no means a task unique to London. According to the United Nations, 68% of the world’s population is projected to live in urban areas by 2050, putting huge pressure on decision-makers globally to develop cities that drive innovation and productivity, while dramatically reducing carbon footprint.
The UK capital already has big ambitions in this area. Last year, the London Assembly declared aspirations for carbon neutrality by 2030 – 20 years before the 2050 target set by the UN.
The built environment has an increasingly critical role to play in safeguarding the planet and stepping forwards to make a positive contribution on the road to carbon neutrality. Industry bodies and organisations, such as the Better Buildings Partnership, have already taken up the mantle and are pressing ahead with creating strategies based on a collaborative approach.
Reaching this ambitious net-zero target will require tangible and progressive steps – at Canary Wharf we have purchased 100% renewable electricity for the estate since 2012 and zero waste has gone to landfall from managed buildings and areas since 2009.
Global leaders
Another crucial component will be the implementation of circular economy principles, whereby we eliminate waste and aim for the continual use of resource. According to the Ellen MacArthur Foundation, renewable energy only addresses 55% of emissions, with 45% coming from the products we use every day – by keeping these materials in circular production, we can start to eliminate this output.
The construction industry is the UK’s largest user of natural resources and produces 100m tonnes of waste each year. This shows that although we have a significant challenge ahead of us, we also have a huge opportunity to become global leaders in this space.
To achieve these goals, we need to examine market forces and rebalance the local economy to favour governance and public and private investment that is targeted to sustainable infrastructure.
Currently there is a mismatch between the ambition and desire to tackle climate change and the capability of the supply chain to deliver. So much of our sector depends on smaller companies in the supply chain and we cannot hit them with tariffs and taxes and expect them to react – we need to create a supportive landscape in which they can stay competitive.
This is not only important environmentally but also economically, with the city’s low-carbon economy worth £40bn in sales – 5% of London’s total GVA.
This is reflective of the cultural shift we are seeing. Consumers and tenants are increasingly concerned with their own carbon footprint and are actively seeking out property and developments that match their priorities. Those who fail to keep up with these demands will ultimately be deserted by their customers, losing out to developers that have consciously shifted their own practices and supply chains for the better.
No resting on laurels
This week, Canary Wharf Group released a report at its new 5m sq ft district, Wood Wharf, looking at how we can future-proof London’s economy over the coming decades. The need for collective action on sustainability shone through as a priority area that will require immediate and decisive action.
These issues are top of our agenda, driving us to implement pioneering approaches in renewable electricity, waste management and recycling. However, there is always more we can do, which is why we are developing our circular economy plan, with the long-term aim of creating a “circular city”, eliminating all waste and recycling all materials across the estate, including Wood Wharf.
Progress is being made – but we cannot rest on our laurels. The net zero emissions target means that everyone – every sector, business and individual – must be fully committed to the goals set out by the London Assembly and UN. We are creating a new set of ambitions as a sector, and collaboration and co-operation between policy makers, manufacturers and consumers will be the only way to succeed.
Martin Gettings is group head of sustainability at Canary Wharf Group
