Newham is to receive over £500,000 of funding from the Greater London Authority (GLA) to develop two key projects supporting Green Economic opportunities in Newham.
The award came from the government’s UK Community Renewal Fund (UKCRF) following a successful bid by the Council.
The projects will enable feasibility studies to develop work on material re-use in the construction industry at scale across London and beyond.
The feasibility study will explore the scale of the opportunity, looking at how it will develop including potential sites, partners, and networks to grow the project.
The successful award means plans can be progressed to create affordable workspaces, to attract and support green industries in the borough. This study will do the preparatory work necessary to look at how it can develop and unlock further investment into skills and business support.
Mayor of Newham Rokhsana Fiaz said: “We are taking action on Climate change. We are developing the skills and business expertise in Newham to take forward green economic opportunities that can both provide employment and help tackle Climate Change.
“This is just the start, I want to make Newham a beacon of community wealth building aimed at developing skills and opportunities for local Newham residents that also tackle climate change. Our national leadership in working to create locally the jobs of the future is recognised by this award of funds and our successful bid for £40 million from the Levelling Up Fund.
The successful bid focused on the potential of the Royal Docks emergence as a ‘beacon of green innovation’ and to establish North Woolwich and Beckton, areas close to the Royal Docks Enterprise Zone, as destinations for green businesses.
They are already home to established communities alongside significant industrial sites and have the space to accommodate projects which will support the emerging tech focus in the Royal Docks.
Newham Council is working to develop a local network of sustainable initiatives, particularly around the circular economy.
The proposed projects will be taken forward by Newham’s Regeneration Team who will explore how other initiatives can play into the scheme and will report back on progress over the next six months.