Representation by BusinessLDN (BusinessLDN)
- Date submitted
- 14 June 2024
- Submitted by
- Members of the public/businesses
BusinessLDN – formerly London First – is a business campaigning group with the mission to make London the best city in the world in which to do business, for the benefit of the whole UK. We convene and mobilise business leaders to tackle the key challenges facing our capital. We have around 175 members from a wide range of sectors, including infrastructure and energy. London has a target to reduce its carbon emissions by 78%, relative to 1990 levels, by 2030. This is considerably more ambitious than many other global cities, or indeed the UK, which has legislated to reach net zero greenhouse gas emissions by 2050. If London is to achieve its ambitious target, this would set a leading example, acting as a pathway to other global cities. It would also have a tangible impact on the UK’s overall emissions while promoting economic growth. However, significant progress is required – a step-change in activity – to deliver this. Cory’s planned carbon capture project at Riverside 1 and 2 is an example of a project which will play a hugely important role in driving the energy transition in London. The project is not only carbon-neutral (releasing no new carbon into the atmosphere) but will also be carbon negative (permanently removing carbon which forms part of the natural carbon cycle from the atmosphere). It has the potential to capture c.1.3 million tonnes of CO2 per year, equivalent to the carbon emissions of a mid-sized city like Reading and could create thousands of jobs within the operation of the plant, the wider supply chain and also along the river Thames, where the waste will be transported away for storage under the North Sea. Not only will the project capture carbon generated through the process of waste incineration, it will also generate new energy from this waste which would otherwise end up going to landfill. Cory also has a track record of running EfW plants and recycling that waste for use in a variety of domestic and industrial settings, contributing to the principle of a circular economy in London. Their previous DCO submitted in November 2018 was consented demonstrating their long-standing commitment to the site. They are serious about delivering this significant carbon negative infrastructure project which will continue to bring benefits to London’s residents and businesses decades into the future. We would be glad to submit further evidence at an issue specific hearing.