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Carbon offset price

Questions to the Mayor of London – answered on 13th March 2020.

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Photo of Leonie Cooper Leonie Cooper Labour

What analysis was conducted of the expected carbon reductions associated with different offset price levels?

Photo of Sadiq Khan Sadiq Khan Mayor of London

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.