(A)Climate Action Strategy – to consider the adoption of a Climate Action Strategy.
24 September 2020
The Court considered proposals relating to the adoption of a scoped and costed Climate Action Strategy for the City of London Corporation.
The Chair spoke to introduce the report, commending it as a hallmark strategy which would form the basis of the City’s global, political and community engagement for years to come.
It was noted that the Strategy would affect City Fund, City Cash, and Bridge House Estates; consequently, Members would need to mindful of their roles in respect of the City Corporation funds and as Trustees of Bridge House Estates when considering the proposals.
Several Members spoke in support of the report, advocating the importance of its data-driven and science-based targets, ensuring they were pragmatic, deliverable and would facilitate real and demonstrable impact. The ability to tackle Scope 3 emissions was commented on in particular, with Members noting that the Strategy represented a leadership moment for the City, bringing Climate Action on a par with Green Finance, where the City was already a global leader. The focus on buildings was also commended, with it observed that the City’s property portfolio represented its largest single source of carbon emissions and so action here was particularly impactful.
Amendment – That the following wording be appended to the second recommendation of the report: “with a commitment that the amount of funding agreed in the Climate Action Strategy will be protected, regardless of changes in funding sources.”
During debate on the Amendment, several Members expressed reservations in respect of making open-ended commitments on future funding, noting that there were robust mechanisms within the Strategy to ensure the right resources were allocated to various activities and that needs and achievements were kept under constant review.
Motion – That the Question be now put.
Upon the Motion being put, the Lord Mayor declared it to be carried.
Upon the Amendment being put, the Lord Mayor declared it to be lost.
Resolved – That approval be given to:
1. The adoption of the Climate Action Strategy set out at Appendix 1 to the report, together with the actions set by committee at Appendix 2.
2. The allocation of additional budget required to deliver the strategy, as recommended by the Resource Allocation Sub-Committee and the funding route as referred to in paragraphs 6-10 of the accompanying report.