City of London approves plans to become “highly sustainable place to do business”

The City of London is planning to become a “highly sustainable place to do business” by hitting net zero by 2040 and creating an “inclusive, accessible and healthy” Square Mile.

The City of London Corporation and Court of Common Council last week formally approved the ‘City Plan 2040’ plan for the Square Mile. The finalised plan will now be published for public consultation, before examination by an independent planning inspector and finally, being sent to the Secretary of State for approval, later this year.

Sustainability is central to the growth plans of this historic and economic powerhouse. It couldn’t be labelled a U-turn – the City of London has previously proved open to active travel measures, notably warming to active travel as pollution dropped during lockdowns and prior to that partnering cycle brands. The City of London’s active travel support has generally not caused quite as much furore as active travel moves made by London Mayor Sadiq Khan.

City Plan 2040 sets out priorities including:

• Power a growing, vibrant and competitive economy, with over 1.2m sqm of additional office floorspace delivered by 2040;
• Transform the Square Mile into a 7-day-a-week cultural and leisure destination for everyone;
• Ensure the City is a highly sustainable place to do business, with a net zero Square Mile by 2040;
• Create an inclusive, accessible and healthy Square Mile where everyone feels welcome; and
• Celebrate local heritage while re-shaping those parts of the City that have the most potential for growth and regeneration.

“The City is an asset to London, the UK and the world. It creates jobs, drives investment and is home to many precious heritage assets, all of which are for the benefit of communities, both domestically and overseas,” said Policy Chairman and political leader of the City of London Corporation Chris Hayward.

“As Policy Chairman and political leader of the City of London Corporation, I want to urge everyone connected with the Square Mile to participate in the public consultation round, to ensure that that the City can realise its potential as the most innovative, inclusive and sustainable place to invest, work, live, learn and visit.”

Chairman of the City of London Corporation’s Planning and Transportation Committee, Shravan Joshi, added: “The City of London is like nowhere else on Earth. A global economic powerhouse, and an ancient city, a centre of collaboration and innovation for the hundreds of thousands of people who work here, as well as a destination for visitors and tourists who come to experience our unparalleled culture and heritage.

“The City of today has enormous strengths but, like all successful places, it needs to adapt, to change and to grow. The City Plan 2040 will help to shape the built environment in ways that rise to the challenges of our time while making the most of the many strengths of the Square Mile.”

The move comes a year after London unveiled its Cargo Bike Action Plan, where TfL estimates 17% of delivery van traffic could be converted to cargo bikes by 2030.