"I want to tap into the United Kingdom's passion for sports," Coe told Reuters.
"London is the most exciting and vibrant city on the planet. I want it to be the best."
Coe, the only man to retain the Olympic 1,500 metres title, said he was delighted with the British capital's preparations for the world's greatest sporting spectacle.
London is one of the five candidate cities who must submit their bid books to the International Olympic Committee by next Tuesday. The other candidates are favourites Paris, Madrid, Moscow and New York.
Coe said he was not upset that London was not the favourite.
"I learned to never get too excited about who is best and worst," he said.
"This is a long, long process, It is the nature of the campaign to have twists and turns. But we want every variable we have control over to be the best.
Coe said he had reviewed the successful elements at last August's Athens Games.
"This will be a Games for the athletes. If you have them at the centre of your thinking then, by implication, you have to make sure venues are good travel distances from the village for example.
"I want it to be an environmentally sustainable Games, I don't want the athletes to come to a concrete jungle. This will also be a truly public transport Games."
