The City of London Corporation says it is aiming to become “fully circular” by 2040 as part of its strategy to reduce waste and recycle building materials.
The City of London is a historic financial district, known colloquially as the Square Mile, where both the Stock Exchange and the Bank of England are located.
The area is approximately 1.12 square miles and governed by the City of London Corporation as its local authority.
The Circular Economy Framework and Action Plan outline the Corporation’s plans to embed circular principles in major construction projects and improve recycling facilities.
The Framework also outlines plans to make it easier for residents, businesses, and visitors to adopt circular practices while in the Square Mile.
Chairman of the City Corporation’s Port Health and Environmental Services Committee, Mary Durcan, said: “This framework is a game-changer for the Square Mile. It builds on our commitment to innovation and sustainability, creating a greener, cleaner City for everyone.
By adopting circular economy principles, we’re not just reducing waste, we’re unlocking economic opportunities…
“By adopting circular economy principles, we’re not just reducing waste, we’re unlocking economic opportunities, fostering collaboration, and ensuring that the City remains a world-leading hub for business and culture.”
The Framework aligns with the Corporation’s Climate Action Strategy, which aims for net zero carbon emissions across its full value chain, and the entire City of London, by 2040.
The organisation has already launched several circular economy projects including regular “Give and Take” days, where City residents can donate unwanted books, clothes and electrical items for reuse.
Chairman of the City Corporation’s Planning and Transportation Committee, Shravan Joshi, said: “The City of London’s global reputation as a financial and cultural capital is underpinned by our ability to lead on sustainability.
“This framework exemplifies how forward-thinking policies can drive real change, making the Square Mile a model for circularity and a magnet for sustainable investment.”
