London faces up to £36 billion yearly climate-change costs by 2050s
A mayoral report warns that climate change could cost London as much as £36 billion each year by the 2050s.
A new analysis issued by the mayor of London’s office together with the city’s councils projects that climate change may impose a cost of up to £36 billion a year on the capital by the 2050s, driven by lost working hours, business interruptions and damage to infrastructure from hotter, wetter conditions. The report notes that middle-aged Londoners face higher heat-related mortality even when temperatures stay between 24 °C and 32 °C, and cites a recent June heat wave that cost the British economy £1.15 billion.
To mitigate these risks, it advises businesses to adjust working hours, expand remote-work options and relax uniform policies, while city planners will prioritize expanding parks, creating shaded public areas, promoting cool-space advertising and increasing public toilet and water access. Transport for London is specifically urged to install air-conditioning on new underground trains and explore additional cooling measures for carriages and platforms.
BusinessLDN chief executive John Dickie said the findings underscore the economic importance of investing in climate resilience.
Why it matters
The projected £36 billion cost highlights the urgent economic and health risks climate change poses to London.
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