The Mayor of London has announced new green investment initiatives aimed at accelerating London's progress toward net zero by 2030 — including the launch of a new Climate Finance Taskforce.

Speaking at the Climate Innovation Forum today (Wednesday, 25 June), Sadiq Khan opened the annual event by outlining new plans to bring billions of pounds in private investment into decarbonisation projects across the capital.

At the forefront of the announcement is a new Climate Finance Taskforce, chaired by Dr Rhian-Mari Thomas OBE, Chief Executive of the Green Finance Institute.

The taskforce will bring together leading investors and stakeholders to develop innovative financial models to unlock significant private sector funding.

Also launched this week is the fifth round of the Mayor's £500 million Green Finance Fund, which supports London-wide projects focusing on energy efficiency, renewable energy, heat networks, and clean transport.

City Hall say the fund has so far committed £318 million to projects expected to save over 45,000 tonnes of CO₂e, the equivalent of taking more than 31,000 cars off the road.

Previous beneficiaries include the London Stadium solar panel installation, energy upgrades at the Crystal Palace National Sports Centre, and the London Fire Brigade's shift to an electric vehicle fleet.

Applications for the new funding round are open until 4 September 2025.

The Mayor also revealed a major new clean energy contract between Transport for London (TfL) and EDF Renewables UK.

The deal will see a newly constructed solar farm in Essex provide around 80 GWh of electricity a year to TfL, which is equivalent to running the entire Tube network for 12 months or powering the DLR and Tram services for 15 years.

In his speech, the Mayor described the climate emergency as "no longer a distant threat," highlighting recent global wildfires, floods, and heatwaves.

"Turning away from fossil fuels and towards a carbon-free future will create jobs, reduce energy prices, enable energy security, and boost public health," he said.

"Unlocking the promise of a green revolution is possible, but it will demand our full focus. It will call for courageous leadership. And it will require bright minds, bold ideas, and cross-border, cross-sector collaboration."

Mr Khan reiterated London's ambition to become a net zero city by 2030, estimating that the capital will need around £75 billion in infrastructure investment to reach the target.

Dr Rhian-Mari Thomas of the Green Finance Institute added: "This new Taskforce marks a critical next step — bringing together leading public and private capital providers to co-develop innovative financial structures that can unlock investment at scale."