London Mayor's fund faces £3m loss as EV firm Breathe collapses
The Mayor's Energy Efficiency Fund, set up by Sadiq Khan, injected £3.2m into Breathe in March 2022, 15 months before it called in administrators, Sky News learns.
A spokesperson for the mayor said: "The mayor's Energy Efficiency Fund is the largest of its kind in the UK and has already invested in 17 projects across London mobilising over £380m of investment, which is expected to save over 38,000 tonnes of CO2 and nearly 40m kwh of energy.
"MEEF's original investment of £3.2m in Breathe represents less than 1% of the total funding mobilised by the fund to date.
The mayor's spokesperson seems to conflate investment and funding, but maybe the ultimate destination of "mobilised" funding is somewhat uncertain.
At least all that the mobilised moolah has saved about 0.0001% of annual global CO2 emissions. Whether or not Londoners can afford all these savings is another matter.
2 comments:
It is interesting that the article gives the impression that the money was the mayor's to give.... Does no one think of the taxpayers?
Graeme - yes they seem quite clear on that, the money is the mayor's to dole out. I bet nobody involved thinks of the taxpayer apart from estimating how much more they can be squeezed.
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