Sustainability In-Depth

The latest thought-piece from our sustainability partners, Bioregional, on how businesses can move towards climate resilience. 

Why climate adaptation matters for London businesses  

Climate adaptation and mitigation are frequently discussed together in the context of climate policy, but they refer to different concepts. Climate adaptation involves making adjustments or changes in response to or in anticipation of the impacts of climate change. In contrast, climate mitigation are efforts aimed at reducing greenhouse gas emissions or storing carbon.  

Climate adaptation is critical for preparing for climate impacts globally, but in London, it is especially important. London was not built to withstand future climate impacts such as extreme heat, flash flooding, and drought.  In the summer of 2021, 2,000 properties in London were impacted by flooding, and in 2022, there were 387 heat-related deaths in London and a memorable heatwave reaching 40°C in London.  

Last year saw the publication of the London Climate Resilience Review, commissioned by the Mayor of London. The review explored the key climate risks for the capital, assessed London’s preparations for climate impacts and made recommendations. 

The 50 detailed recommendations were targeted at organisations including the UK government, the Mayor of London, local authorities, local councils, public and private sector organisations.  

What were the recommendations for businesses? 

The review explored the key climate risks such as heat, drought, rising sea-levels and surface water flooding. The leading responses to climate adaptation were identified as Sustainable Drainage Systems (SuDS), rainwater harvesting, and retrofitting heritage buildings to be fit for future climate. 

The Review calls for businesses to invest, strategise, and engage their local community. To build climate resilience, businesses should look at investing in blue and green infrastructure – integrating green (soft areas, plants and trees) with blue (watercourses, ponds, lakes and storm drainage) elements into buildings and outside spaces – while enhancing community resilience and creating climate-resilient buildings.  

The review advises businesses to create strategic plans addressing heat and develop comprehensive adaptation frameworks. Additionally, businesses should work together and with key stakeholders to raise awareness of climate risks and build adaptive capacity through targeted initiatives and collaborative efforts.  

Businesses that are looking to invest in climate resilience could seek support through the following funding opportunities:  

• Green finance fund (eligible for GLA Group, local authorities, social housing providers, NHS bodies, universities, colleges and museums)  

• Workplaces Retrofit Accelerator (eligible for public sector organisations)  

• Power to Change Energy Resilience Fund (for community businesses in England owning a building or with a significant lease (12+ years) and who have been declined by a bank).  

• Lloyds Bank Clean Growth Financing Initiative (eligible for businesses with a turnover >£3m)  

• Barclays Green Loan for Business (eligibility determined by Barclays)  

• HSBC Go Greener SME Reward  

The London Climate Resilience Review paints a clear picture of the challenges ahead for all Londoners.  

Businesses need to prepare and adapt to climate change, across their operations and supply chain. By assessing risks, investing in adaptive infrastructure, and embracing collaboration, businesses can foster resilience and use the opportunity to build a stronger connection with their community.  

Read the London Climate Resilience Review in full here.  

At Baker Street Quarter Partnership we are here to support you on your sustainability journey as we can all play our part in climate adaptation and mitigation. Please get in contact if there is an initiative you would like to get involved with or ideas that you may have.