As part of the evidence base for the draft London Plan, I commissioned the London Carbon Offset Price report. This report assessed the cost and carbon savings for a variety of offset measures to determine a suitable offset price that would allow boroughs to fund a variety of projects through their offset funds. Further details can be found in the report: https://www.london.gov.uk/sites/default/files/london_carbon_offset_price_-_aecom_.pdf
The new carbon offset price has been tested as part of the London Plan viability assessment and will incentivise higher on-site carbon reductions before offsetting is considered. Boroughs can also set their own offset prices based on local viability assessments and a number have done this. My London Plan commits to keeping the carbon offset price under review.