Retrofitting the UK’s building stock with low-carbon solutions could reduce national energy costs by £7.5bn a year, create more than 150,000 jobs over a 10-year period and cut carbon emissions by 20%, MPs have been told. Bankers for Net-Zero was set up in July last year. Barclays, Triodos, Tide, Handelsbanken and the Ecology Building Society became the first banks to sign up to the commitment. The initiative sees banks lead cross-sector discussions with businesses and policymakers to outline ways to de-risk the net-zero and unlock capital to assist with the green recovery. The group has this week sent a long-term strategy recommendation to MPs, calling on them to seize a “retrofit revolution” that would improve the energy performance of the UK’s homes and offices. The recommendations call for a strategy that would deliver at least a 50% reduction in energy usage and carbon footprints, with a potential to deliver a 100% reduction. However, the banks warn that a piecemeal, short-term approach would hinder the amount of finance that is funnelled into retrofitting efforts. The benefits of a long-term strategy would be £7.5bn in saved energy costs annually, the creation of 150,000 green jobs in 10 years while ending fuel poverty. Fully decarbonising the built environment would also address more than 20% of the emissions required to reach net-zero nationally.
Edie 16th March 2021 read more »
The Public Sector Decarbonisation Scheme provides grants for public sector bodies to fund energy efficiency and heat decarbonisation measures: the list of confirmed grants for Phase 1 of the Scheme to date has been published. We will update this list regularly until all funding has been allocated.
BEIS 17th March 2021 read more »