The Mayor of London has emphasized that carbon offset funding from developers should primarily support energy efficiency, renewable energy, and district heating initiatives. However, many councils struggle with inadequate funding for these projects. Innovative examples, such as Islington's Bunhill heat and power network, demonstrate successful use of these funds. This project, launched in 2012, harnesses waste heat from the London Underground to provide lower-cost, greener energy to homes and facilities, showcasing effective solutions to energy challenges amid rising living costs.
We're taking heat that would've gone to waste and using it to warm people's homes, which means lower energy bills for residents and less pollution.
Some councils have successfully combined carbon offset funding with other funding sources to undertake major energy efficiency projects that may otherwise be financially unfeasible.
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