Economic Development

City of London At the heart of London’s world-leading international financial and business centre

Economic Development Corporate Responsibility Regeneration International Affairs European Affairs City Affairs Research

City of London Economic Development

The City of London Corporation is an unusually diverse organisation with three main aims – to support and promote the City as a world leader in international financial and related business services; to provide the highest quality local government services for the Square Mile; and to provide valued services to London and the nation as a whole.

City of London Economic Development

The City is at the heart of the UK-based international financial and related business services industry, and the aim of the City of London Corporation’s Economic Development Office is to promote and enhance the City’s status and effectiveness as a world-leading global centre for finance and business. But the Square Mile is also at the heart of London and the City of London Corporation works to support communities in neighbouring boroughs through a range of innovative programmes, many of which engage City firms and organisations.

To secure a sustainable future, the overarching economic development aims which draw our efforts together are: to support and promote the competitiveness and growth of the business City at the heart of an international financial services marketplace by securing the best market, fiscal, regulatory and infrastructural environment in which enterprise and innovation can flourish; to enhance the capacity of the wider London region and especially neighbouring communities, through regeneration initiatives and corporate responsibility programmes to tackle economic, social and environmental issues and so reinforce the competitiveness of the wider City by generating more sustainable economic activity.

www.cityoflondon.gov.uk/business

These aims are underpinned by an extensive and freely available independent research programme designed to promote evidence-based policy making, and to inform our own priorities and plans.

The Economic Development Office acts as a facilitator – breaking new ground, launching pilot projects, building partnerships and projects with business groups and neighbouring communities, and influencing key policy-making at home and abroad. To achieve our aims the Economic Development Office is organised into the following interlinked teams: Corporate Responsibility Regeneration International Affairs European Affairs City Affairs Research

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City of London Economic Development

Corporate Responsibility

The Corporate Responsibility team offers tailored assistance and advice to businesses looking to adopt responsible business practices, engage more with their neighbouring boroughs, reach local customers or learn more about the area in which they are operating.

All of the corporate responsibility services that we offer are provided free of charge to organisations.

Our initiatives include: Heart of the City – a support programme for businesses in the City and City fringes that are interested in developing a Corporate Social Responsibility (CSR) programme; City Action – an employee volunteering brokerage service linking City-based businesses with charities, schools and social enterprises located in the City and neighbouring boroughs. We aim to increase understanding and cross-working between businesses and charities and support our business members to initiate and develop volunteering partnerships;

The City Procurement Project – an advice service for City-based businesses looking to adopt responsible purchasing strategies e.g. procuring from social enterprises and local or small and medium-sized enterprises; The Lord Mayor’s Dragon Awards – a prestigious awards programme for businesses and public bodies in Greater London with exemplary corporate community involvement activities; City of London Corporation Employee Volunteering Programme – a programme for the City of London Corporation which offers all employees two working days per year to volunteer with a wide range of community groups in the City and its neighbouring boroughs; Social Investment – in addition to supporting social enterprises (businesses which reinvest profit for social and environmental benefit) through the provision of volunteers and procurement opportunities, we also support and encourage the financing of the social enterprise sector, through a variety of social investment initiatives.

www.cityoflondon.gov.uk/supportinglocalcommunities www.cityoflondon.gov.uk/workingwithandforothers

Corporate Responsibility

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City of London Economic Development

Regeneration

The City of London’s neighbouring boroughs include some of the country’s most disadvantaged communities, although the Square Mile houses one of the richest concentrations of economic activity in the world.

As part of our commitment to bridging the gap between the City and our neighbours and increasing prosperity across the City fringe boroughs we have a longstanding and extensive programme of targeted projects, helping thousands of people each year.

We focus on the following key priorities: helping residents of the City and our neighbouring boroughs into employment; raising the aspirations of local young people; supporting enterprise and small businesses.

We fund existing projects and develop and commission our own initiatives in partnership with local experts.

Working closely with City businesses and public and community/voluntary sector partners is central to our efforts in this area.

Our contribution towards economic regeneration in the City fringes is wide-ranging: from securing paid work placements for local young people through our City of London Business Traineeship scheme to encouraging City businesses to recruit locally; from demystifying the City as a place to work for thousands of students at local schools to helping local small businesses to become ‘fit to supply’ City businesses; and from helping new entrepreneurs grow their business, access investment and benefit from other support to investing in small business workspace.

www.cityoflondon.gov.uk/supportinglocalcommunities www.cityoflondon.gov.uk/workingwithandforothers

Regeneration

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City of London Economic Development

International Affairs

The City of London supports and promotes the City (UKbased financial and related business services) in international markets, develops the City’s presence overseas, assists in the organisation of overseas activity undertaken by the Lord Mayor and Policy Chairman of the City of London, encourages foreign investment into the City and facilitates inward visits by key overseas contacts.

This work is undertaken through: building and strengthening relationships with key decision makers and firms in China and India to support the City’s interests and increase bilateral trade and investment in financial services; funding and managing City Offices in Beijing, Shanghai and Mumbai. The offices promote the services of the UK financial services sector and build links with the government and private sector in China and India respectively; providing policy support for and recruiting and

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International Affairs

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managing business delegations to accompany at least 90 days of Lord Mayoral visits each year to overseas markets, promoting UK-based financial and related business services and market access issues; building and strengthening links with US government and private sector stakeholders and with US investors in the City; hosting and briefing overseas visitors to the City.

The City of London regularly receives visiting delegations of practitioners and government officials from around the world. This work provides opportunities for City practitioners to access senior visitors through roundtable discussions, networking events and one-to-one meetings; assisting firms in the financial and related business services sector to establish and grow their business in the City.

City of London Economic Development

European Affairs

The aim of the European Affairs team in London and the City Office in Brussels is to facilitate timely and informed dialogue between City businesses and organisations and the European Commission, the European Parliament and individual EU Member States to maximise the influence of UK-based financial services on EU financial services developments.

We also work very closely with HM Treasury, regulators, and the Foreign and Commonwealth Office.

Much of this work is steered by the International Regulatory Strategy Group (IRSG), which is a cross-sectoral practitioner-led body comprising leading UK-based figures from the financial and professional services industry. It aims to contribute to the shaping of the international regulatory

regime, at global, regional and national levels. Its role includes identifying strategic level issues where a crosssectoral position can add value to existing industry views.

It is an advisory body both to the City of London, and to TheCityUK, which promotes the UK-based financial services industry.

We have placed an increased emphasis on strengthening the dialogue with other EU financial centres, as well as with the current holders of the EU Presidency. The City of London Programme enables the City to enhance its links with the newer Member States. The Programme, which is supported by City institutions and HM Government has hosted many new Member State government officials, regulators and financial practitioners.

www.cityoflondon.gov.uk/EU

European Affairs

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City of London Economic Development

City Affairs

The City Affairs team works to support the City’s role as the leading international financial services centre. We engage closely with business and policy-makers on issues that have an impact on the business environment, economic growth and the global competitiveness of UK-based financial, professional and related business services.

We act both as an advocate for the interests of UK-based firms, providing research, briefing and other policy advisory services to local and national policy-makers, and as a facilitator of direct dialogue between business, HM Government, trade organisations, financial and regulatory institutions.

Our main focus is on key issues that affect City businesses, including: taxation; regulation, including corporate governance and the development of the UK’s regulatory architecture; availability of skills and access to talent; infrastructure and transport; SME funding and the challenges and opportunities for financial services in financing growth; the development of newer areas of business such as Islamic finance and the carbon markets.

The City Affairs team also runs familiarisation courses to introduce colleagues from stakeholder organisations, students and international visitors to the key institutions, sectors and mechanisms that underpin London’s business City.

www.cityoflondon.gov.uk/cityaffairs

City Affairs

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City of London Economic Development

Research

The City of London’s economic research programme provides insights and analysis of issues and trends affecting the City of London, in particular related to the financial and related professional services industry in the UK and EU, and issues affecting wider London. Current research themes include the business and regulatory environment, in particular in relation to financial and professional services; opportunities and trends in developing and high-growth markets; corporate responsibility; economic regeneration; residents and workers; and infrastructure and development.

The programme aims to: examine the opportunities and threats to the City’s competitive position as the centre of choice for financial and related professional services; provide an independent evidence base to support the work of local, regional, national and EU policymakers, City firms and the wider public; inform development necessary to meet the City’s requirements for world-class infrastructure and services, now and in the future.

The Research team works with a wide range of partner organisations in order to ensure that all research reflects a balance of views and an independent perspective.

The core range of full reports consists of extensive and indepth examination of topics, usually involving primary research. There are also several series of shorter reports, including Special Interest Papers, which reflect expert opinions and are intended to stimulate discussion and debate on current issues; Policy Practitioner Papers, which examine technical topics relevant to industry practitioners, and the Topical Issues series which looks at individual areas of policy interest to the City of London.

All research is available to download for free from the City of London website.

We also carry out a range of analyses in-house, to support City of London departments, stakeholder organisations and to meet individual needs.

Follow us on Twitter @CoLResearch

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Research

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City of London Economic Development

Contact us

Economic Development Office City of London PO Box 270, Guildhall London EC2P 2EJ econ.dev@cityoflondon.gov.uk www.cityoflondon.gov.uk/business Director of Economic Development Tel +44 (0)207 332 3600 Marketing & Communications Manager Tel +44 (0)207 332 3614 City Marketing Suite Tel +44 (0)207 600 8362 www.cityoflondon.gov.uk/citymarketingsuite citymarketingsuite@cityoflondon.gov.uk City Business Library Tel +44 (0)207 332 1812 www.cityoflondon.gov.uk/citybusinesslibrary cbl@cityoflondon.gov.uk

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City Office in Brussels Rond Point Schuman 6, 8th Floor 1040 Brussels Belgium Tel: +32 2 282 8456 Fax: +32 2 282 8443 City Office in Mumbai DBS House Prescott Road, Fort Mumbai, 400 001 India Tel +91 22 64527244 india@cityoflondon.gov.uk

City of London Beijing Representative Office 14/F China World Office 1 No. 1 Jianguomenwai Avenue Beijing 100004 China Tel +86 10 6535 0239 china@cityoflondon.gov.uk City of London Shanghai Representative Office 38F Park Place 1601 Nanjing West Road Jingan District Shanghai 200040 China Tel: +86 21 6032 1524 china@cityoflondon.gov.uk

City of London Economic Development

City of London At the heart of London’s world-leading international financial and business centre

Corporate Responsibility Regeneration International Affairs European Affairs City Affairs Research