MIPIM 2007: Developers must put themselves at the forefront of London's efforts to reduce carbon emissions, deputy London mayor Nicky Gavron told delegates at MIPIM today

Gavron said there was only a 'small window of opportunity' to stop runaway climate change. She warned that the property industry should prepare itself for carbon pricing and that it should work closely with government to achieve Ken Livingstone's goal of cutting carbon emissions by 60% by the year 2025.

'One of the key actions is for there to be a price on carbon,' said Gavron. 'It is absolutely key to everything we are doing. It is going to happen so you should start anticipating it now.'

Gavron said: 'The role of developers is crucial. There needs to be leadership at every level, both corporate and political. If London leads the way on this, other cities will follow.'

Ted Kyzer, London Development Agency group director, added that the regeneration projects in east and north London would change the face of sustainable development.

'It is not a matter of getting things fixed there and then going back to the way we worked before,' he said. 'The changes we make now must be permanent.'