The Elephant & Castle regeneration is one of 16 founding projects across the world for a new environmental initiative led by the William J Clinton Foundation, it was revealed this week.
The Climate Positive Development Program was launched by President Clinton at the C40 Summit in Seoul, South Korea.
Along with the other founding projects Elephant & Castle will demonstrate "climate-positive" strategies which the foundation claims will set a compelling environmental and economic example for other cities to follow.
Climate positive developments will strive to reduce the amount of on-site CO2 emissions to below zero.
The initiative will include economically viable innovations in buildings, the generation of clean energy, waste management, water management, and transport and outdoor lighting systems.
Mayor of London Boris Johnson is attending the C40 summit. He revealed to his followers on Twitter that he has "persuaded [Bill] Clinton to visit Elephant & Castle with me which is now at the cutting edge of combatting climate change".
Next month the Mayor will pay his own visit to the Elephant & Castle to see for himself the impact continuing delays to the regeneration process are having on residents, businesses and the area's infrastructure.
The Clinton Foundation's involvement in the Elephant and Castle regeneration has been warmly welcomed by Southwark Council.
"We have now set up MUSCo, a multi-utility services company, which will deliver a low carbon infrastructure to over 6,000 new homes and businesses across the entire Elephant & Castle regeneration area – one of the biggest projects of its kind in the UK.
"Carbon neutral heating, electricity, water and IT will all be delivered to homes as the regeneration rolls out, and design development and the first stages of implementation have already begun.
"MUSCo will help the council achieve significant carbon positive targets as the infrastructure is extended to other estates.
There is renewed optimism that Southwark Council and its prospective development partner Lend Lease will strike a deal before the 1 July deadline. Simon Hughes MP told listeners to South City Radio last week that the Elephant & Castle regeneration "looks like it's up and running again".
"Not only is it a unique opportunity to create a lasting legacy for London, it also presents us with the chance to set a new benchmark for sustainable development globally and positively influence how the built environment of the future impacts in climate change," says Dan Labbad, chief executive of Lend Lease Europe.
"We're extremely proud of what we're achieving at the Elephant, and equally proud that this work has been recognised by the Clinton Climate Initiative."