Leading figures in sustainable industry from both the UK and China are gathering today as part of London Week at the Shanghai Expo to explore how we can move towards a low carbon economy. Jointly hosted by the London Development Agency, the Institute for Sustainability and EcoNetworks, the day’s activities comprise seminars and an evening reception that will share best practice and look at the massive business opportunities associated with this large-scale transformation. Particular attention will be paid to the Green Enterprise District in east London, which presents some of the most compelling opportunities for Chinese businesses.

Recognition is growing globally of the tremendous potential to maximise both economic growth and environmental benefits spurred by the shift to a low carbon economy. A report released by the United Nations Environment Programme and the think tank AccountAbility earlier this year revealed that the policy environment and market conditions for many low-carbon firms are improving rapidly. The study goes on to project that this advancement in policy is putting the low carbon economy on track to exceed the USD 2 trillion mark by 2020 .

“London and the London Development Agency aim to be at the forefront of the transition towards a low carbon economy.  Through initiatives like the Green Enterprise District, we are creating the conditions to attract and facilitate inward investment in London’s low carbon economy,” said Peter Bishop, LDA Group Director of Design, Development and Environment. “London is already a market leader in the low carbon economy in some respects, but we are now working alongside our partners to further raise aspirations and build London into one of the world’s leading low carbon capitals.”

At the heart of the LDA’s action plan to set London at the forefront of the global market in low carbon goods and services – and one of the key drives being introduced at this evening’s reception – is the Green Enterprise District. Featuring new green industries, low carbon infrastructure, education and training facilities and visitor attractions, it is estimated the district could create an additional 6,000 jobs by 2014.

Located in the Thames Gateway regeneration area, this new Green Enterprise District is ideally positioned to benefit from investment relating to the 2012 Olympic and Paralympic Games and excellent transport links with London, the south east and Europe. Echoing the idea of Better City, Better Life, the district is the largest urban regeneration project in Europe, with undeveloped industrial land plots across six boroughs.

At the centre of the Green Enterprise District is the Royal Docks.  The Mayor of London and Mayor of Newham (the local authority) launched a joint vision for the Royal Docks this week – aiming restore the areas as an international business centre and a thriving vibrant place to live, work and visit.  Their joint vision is to harness the London 2012 Games as a catalyst for the Royal Docks’ long-term regeneration. With its miles of waterfronts and open spaces, this special part of London offers huge benefits for those choosing to locate their business or make a home.  The London Development Agency and the London Borough of Newham will work together so that large tracts of land in the area can be sold for investment and developed.

Anchoring the district will be a GBP 30 million investment from Siemens to build an exhibition and conference centre in the Royal Docks as a permanent showcase for sustainable technologies and a destination for the public, customers and students to meet and explore the innovation required to achieve a low carbon society. The centre is on track to be completed and operational by early 2012.

“The Green Enterprise District is an important demonstration of the type of public-private partnership that will drive the growth of sustainable economies. This District presents an excellent means for city planners and companies to share their complementary expertise and create an international, dynamic business hub,” explained Siemens. “Our decision to locate the pioneering Siemens exhibition and conference centre here speaks to the confidence we have in London’s vision of becoming the low carbon capital.”

"London's focus on building a thriving low-carbon economy will create jobs, demand for new skills and opportunities for London's businesses, as well as Chinese companies for which London makes an ideal launching pad for globalisation strategies," said Debbie Jackson, LDA Programme Director Environment. "The potential for the city's low carbon market is huge, it already represents a GBP21 billion investment opportunity, and we estimate it will grow to between GBP40 and GBP140 billion over coming decades."

Moving forward, London will hone its developing edge as the world’s low-carbon economy through a number of initiatives cutting across all aspects of a sustainable city. A plan currently in the works, proposed by Transport for London and the LDA, looks to link Greenwich and the Royal Docks through a cross-Thames cable car. With vehicles emissions being one of the major global polluters, low-emission cable cars represent yet another step London is taking to introduce low-carbon urban solutions.