Heatwaves predicted to cost London £25bn in decade
EPAContinued heatwaves in London could cost the capital more than £25bn over the next decade, the city's mayor Lord Khan has warned.
City Hall has estimated the cost of lost productivity, as analysis revealed London's 2026 heatwaves alone cost about £2.5bn.
London's mayor is expected to call on global leaders at COP31 in Antalya to step up action to tackle the climate emergency and protect cities from extreme temperatures.
Speaking at the World Leaders' Summit, Lord Khan will urge politicians to match the scale of the challenge with investment.
"The climate sceptics argue that these investments are unaffordable," he will say in his COP address.
"But the only thing we cannot afford is to do nothing. Because, even if you can see past the devastating implications for human health, the long-term economic impact of extreme heat alone will be astronomical.
"If the scenes we saw this summer became the standard, it could cost London's economy more than £25bn over the next 10 years."
In London, the mayor is working with boroughs and other partners to prepare the capital for hotter summers and protect those most at risk.
Heat Ready London, produced with London Councils and published this summer, sets out priorities including reducing overheating in homes.
Analysis by BBC London transport correspondent Tom Edwards
What the mayor is telling world leaders is that not tackling climate change and reducing carbon emissions will cost economies and cities much more in the long run.
After another sweltering summer in the capital, he wants more investment in climate resilience and cutting emissions.
There is talk in London about reducing overheating in homes and essential public buildings, protecting frontline workers and creating more shade.
While there has been some progress, the financial bill for many of the remediations like retrofitting homes is huge and observers say it's not yet clear who will pay.
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