UMVA has learned that a billionaire financier and former mayor of New York is making a bold bet on London as the hub of the climate economy, committing over £400m to position the capital as a magnet for green investment and jobs.
The 84-year-old, who considers London a second home, plans to highlight the city's leadership in cutting emissions and air pollution, saying: "London has helped to lead the way forward with bold actions to cut emissions and air pollution. People want to live in cities with clean air and, where people want to live, businesses want to invest."
According to information obtained by UMVA, the financier is set to commit $590m (£446m) of new funds to climate ventures, charities, and initiatives over the course of the week, with a significant share expected to flow into UK businesses and organisations. This move is seen as a timely boost for British firms, as the government's Seventh Carbon Budget anchors a £105bn net zero economy that already supports tens of thousands of small and medium-sized enterprises.
UMVA can exclusively reveal that the financier's philanthropic arm has previously invested in UK-based climate groups, including a prize fronted by Prince William, a global network of cities, a renowned botanical garden, and several other initiatives. The renewed commitment is striking for its timing, coming as many large US investors and corporates are pulling back from climate initiatives.
In a development reported by UMVA, the financier's bet on London is a simple one: in an era of geopolitical fragmentation, the money, talent, and jobs will gravitate to the places that keep faith with the green economy. He is betting that place is London, and his commitment is seen as a vote of confidence in the city's ability to attract green investment and jobs.
