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City of London and Square Mile on track to be net zero by 2040
Figures in the Climate Action Strategy progress report reveal that carbon emissions across the Square Mile have fallen by 24 per cent between 2017 and 2022.
The Square Mile and the City of London Corporation, which governs the area, are on track to reach net zero by 2040, according to figures published in the organisation’s latest Climate Action Strategy progress report.
Carbon emissions across the Square Mile have fallen by 24 per cent between 2017 and 2022 – the equivalent of powering 81,000 homes for a year. Net emissions across the City Corporation’s own entire value chain have been reduced by 28 per cent since 2018, equivalent to powering 50,000 homes for a year.
Climate resilience goals
The report also highlights the organisation’s key achievements made against its climate resilience goals between April 2024 and March 2025.
In the last year, the City Corporation has:
- Installed 2,500m² of climate-resilient vegetation across the Square Mile, creating more green havens
- Planted 72 new trees, helping cool City streets by up to 6°C
- Created over 70 hectares of wildflower meadows across its open spaces which span London and southeast England – equivalent to nearly 100 football pitches.
Walking, wheeling, and cycling now also make up 85 per cent of on-street travel in the City, supported by 214 metres of new cycle lanes, helping reduce emissions and improve air quality.
“This achievement is down to collaboration with our supply chains, tenants, and communities. But we are going further, and faster – scaling up heat networks, greening our infrastructure, and embedding sustainability across our investments”
“From cutting emissions across our own value chain by over a quarter to creating climate-resilient green spaces and generating our own clean power, bold climate action is delivering benefits across the board – reducing costs, protecting communities, and safeguarding the Square Mile’s future,” said climate action lead for the City of London Corporation, alderman Alison Gowman.
“Since launching the Strategy in 2020, we have made strong progress in cutting carbon and reducing climate risks – from greening and sustainable drainage to decarbonising the Square Mile through transport and planning initiatives.
“Our investment has accelerated delivery, putting us on track for net zero across our full value chain and the whole Square Mile by 2040.
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“This achievement is down to collaboration with our supply chains, tenants, and communities. But we are going further, and faster – scaling up heat networks, greening our infrastructure, and embedding sustainability across our investments.”
This year, the City Corporation retained its place on the Carbon Disclosure Project’s (CDP) ‘A-list’, placing it among the top 15 per cent of assessed cities worldwide.
“Despite wider challenges such as the slow decarbonisation of the UK grid, we remain firmly on track to achieve our 2040 net zero carbon and climate resilience targets across both the City Corporation’s activities and the Square Mile,” said policy chairman at the City of London Corporation, Chris Hayward.
Since 2018, the organisation has purchased 100 per cent renewable electricity, and since 2021 over half of its electricity has been sourced through a Power Purchase Agreement with a Dorset solar farm, which also powers landmarks across the City, including Tower Bridge and the Barbican Arts Centre.
In the past year, 132 solar panels were installed on the roof of the City Corporation’s The London Archives, generating 10 per cent of the building’s annual electricity needs and saving £25,000 a year.
The City Corporation’s 11,000 acres of open spaces across London and southeast England – including Epping Forest and Hampstead Heath – also remove an estimated 16,230 tonnes of carbon annually, equivalent to two thirds of its 2024/25 operational carbon footprint.
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How has the City of London reduced carbon emissions by 24% since 2017?What role do green spaces play in the City’s climate resilience strategy?How does the City Corporation’s renewable energy sourcing impact emissions?What measures support the increase in walking, wheeling, and cycling in the City?How do solar panel installations contribute to the City Corporation’s energy goals?air qualityclimate actionClimate change/ResilienceEnergy & EnvironmentLondonnet zeroParks and green spaceRenewablessolar power
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