The London Waste and Recycling Board (Lwarb) has set out proposals for introducing circular economy (CE) principles to the city.
More than 100 actions are set out for different sectors in a route map which addresses challenges as the capital’s population is predicted to exceed 11 million by 2050.
Board member councillor Bassam Mahfouz presented a document which suggests that, by 2036, a CE could provide London with annual net benefits of at least £7bn in the sectors of built environment, food, textiles, electricals and plastics, as well as 12,000 net new jobs in the areas of reuse, remanufacturing and materials innovation.
Lwarb has also launched a collaboration hub to bring together innovators from the public, private and third sectors to help them develop new CE opportunities in London.
Lwarb chair Liz Goodwin said a CE in the capital would be “huge”.
“Cities are the engine room of the CE. London could receive a net benefit of up to £7bn a year by 2036 if we accelerate our transition, £2.8bn of which can be achieved by delivering the actions in this document,“ she said.
“I would encourage all organisations in London to think about how they can benefit from a transition to a circular economy.”