It is part of Livingstone's stated aim of turning London into an 'exemplar climate-change city'.
The study, which will be undertaken by Arup's planning, policy and economics consultants, will produce evidence and ideas that will be used to alter the London Plan later this year. This will take place at a formal examination in public.
Arup's brief is to include a 'literature review of scientific evidence and current policy to reduce and mitigate the effects of climate change'.
The engineering consultancy has promised to engage with stakeholders from across the private and public sectors, including those who will propose and finance development, occupy the property built, and create and handle the planning applications.
It will also assess the costs and benefits of complying with the proposed policies, supported by case studies with interested parties.