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Home » Square Mile leaders set sights on circular economy by 2040
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Square Mile leaders set sights on circular economy by 2040

March 20, 20253 Mins Read
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Square Mile leaders set sights on circular economy by 2040
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The Corporation has launched an ambitious strategy to reduce waste and recycle building materials as part of its ongoing efforts to cut carbon emissions across the Square Mile. 

The organisation’s pioneering Circular Economy Framework and Action Plan [see notes], will redefine how resources are used and managed across the City, with the aim of becoming ‘fully circular’ by 2040.

The new framework – approved by the Court of Common Council, the City Corporation’s highest decision-making body – outlines how the organisation will embed circular principles in major construction projects, improve recycling facilities, and make it easier for residents, businesses, and visitors to adopt these practices.

It also aligns closely with the organisation’s wider Climate Action Strategy, which aims for net zero carbon emissions across its full value chain, and for the whole Square Mile, by 2040 – a decade ahead of national targets. 

Chairman of the City Corporation’s Port Health and Environmental Services Committee, Mary Durcan, said:

“This framework is a game-changer for the Square Mile. It builds on our commitment to innovation and sustainability, creating a greener, cleaner City for everyone.

“By adopting circular economy principles, we’re not just reducing waste, we’re unlocking economic opportunities, fostering collaboration, and ensuring that the City remains a world-leading hub for business and culture.”

Chairman of the City Corporation’s Planning and Transportation Committee, Shravan Joshi, added:

“The ’s global reputation as a financial and cultural capital is underpinned by our ability to lead on sustainability. As well as reducing waste, we’re creating a resilient and future-proof City where materials are continuously upcycled.

“This framework exemplifies how forward-thinking policies can drive real change, making the Square Mile a model for circularity and a magnet for sustainable investment.”

The organisation is already undertaking several circular economy initiatives to reduce carbon emissions.

They include regular ‘Give and Take’ days, where City residents can donate unwanted books, clothes and electrical items for reuse; and the publication of a Heritage Buildings Retrofit Toolkit, providing building owners with guidance on responsible retrofitting and enhancing climate resilience in heritage structures.

The City Corporation’s partnership with ROMULUS makes it one of the first local authorities to gain actionable circular insights from live building projects – bringing together key contractors, clients, architects, and consultants across London to share building audit data and encourage circular economy.

ENDS

Notes to editors

The Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK – .

Circular Economy Framework and Action Plan – /assets/Services-Environment/circular-economy-framework.pdf

Images – The City Corporation runs a series of repair and wood workshops throughout the year which are open to residents in the Square Mile. (Credit: Corporation). 

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