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London Councils Hoard £130 Million for Climate Action

4/27/2025

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Summary

Story summary

London councils are sitting on over £130 million in unspent carbon offset funds meant for climate action. Since 2016, they’ve collected more than £170 million, yet less than £40 million has been put to use. While some councils struggle with resources, Islington shines by creatively merging funds for projects like the Bunhill heat and power network.

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Story summary

London councils are sitting on over £130 million in unspent carbon offset funds meant for climate action. Since 2016, they’ve collected more than £170 million, yet less than £40 million has been put to use. While some councils struggle with resources, Islington shines by creatively merging funds for projects like the Bunhill heat and power network.