Is London Taking Over From New York As The Global Climate Hub?

“You don’t need to have consensus to get things done,” says Nick Mabey, who chairs London Climate Action Week, “because people are forming different coalitions and moving different pieces forward.”

This one conference is a reflection of a broader opportunity for London to situate itself at the center of the climate economy—particularly when it comes to figuring out how to finance it all. London is home to some of the most influential financial institutions focused on sustainable finance and the NGO standard-setters laying out rules of the road. It’s true, of course, that U.S. capital markets remain dominant across sectors, but London has played an increasingly important role in key parts of the puzzle, from green bonds to finance aimed at cutting emissions from dirty sources. Historically, though not necessarily currently, climate policy has enjoyed support across partisan lines. Now, London understands that the investment involved in creating a safe space for climate can compound benefits, driving additional investment as the U.S. cedes ground.