Response to report on the impact of climate change on London’s economy
Responding to the publication today (Thursday 23 July 2015) by the Economy Committee of the London Assembly of the report on ‘Weathering the Storm: The Impact of Climate Change on London’s Economy’, Bob Ward, Policy and Communications Director at the Grantham Research Institute on Climate Change and the Environment and the ESRC Centre for Climate Change Economics and Policy, at London School of Economics and Political Science, said:
“This report highlights the significant threats to London’s economy from climate change. Climate change is already affecting London. According to the Met Office, six of the 10 warmest years, and four of the six wettest years, in south-east England since records began in 1910 have occurred from 2000 onwards. This means the risks to London from heatwaves and flooding, in particular, are increasing. London is relatively well protected at present by the Thames Barrier from the impacts of bigger storm surges, due to the rise in sea level. However, it is also particularly exposed to heatwaves because, as a large urban centre, it can be up to 9 centigrade degrees warmer than surrounding rural areas. And it is also exposed to increased risk of flash flooding, as heavier downpours can overwhelm the city’s drainage and sewer systems. The report draws attention to the fact that many businesses are unaware that the risks of extreme weather are increasing in London, and hence are failing to take extra steps to make themselves more resilient to the impacts. More needs to be done by local government and its agencies in London, including the Mayor, to raise awareness about this issue and to help businesses manage these growing risks.”
NOTES FOR EDITORS
- The ESRC Centre for Climate Change Economics and Policy (https://www.cccep.ac.uk/) is hosted by the University of Leeds and the London School of Economics and Political Science. It is funded by the UK Economic and Social Research Council (https://www.esrc.ac.uk/). The Centre’s mission is to advance public and private action on climate change through rigorous, innovative research.
- The Grantham Research Institute on Climate Change and the Environment (https://www.lse.ac.uk/grantham) was launched at the London School of Economics and Political Science in October 2008. It is funded by The Grantham Foundation for the Protection of the Environment (https://www.granthamfoundation.org/).