As many as 14,000 Scottish homes still use coal as their main form of heating, a report suggests. The figures, provided by industry body Scottish Renewables, indicate that homes using coal must switch to cleaner alternatives if Scotland is to hit its climate change targets. A home heated by coal emits up to five times more carbon than one heated using a modern heat pump. The Scottish government has set a target that 35 per cent of residential heat should come from renewable sources by 2030. The UK government funds households switching to low-carbon heat through the Renewable Heat Incentive, with owners eligible for payments for every unit of low-carbon heat they produce. The scheme is currently funded until April 2021, while the Scottish government also provides interest-free loans to help consumers switch. A spokesman for Scottish Renewables said: “The Scottish government’s E nergy Efficient Scotland programme launches in 2020 and we would like to see it tackle the issue of coal heating, as well as the polluting oil and LPG systems, which remain so common in the large areas of Scotland which do not have a mains gas supply.”
Times 6th Nov 2018 read more »
Only 5 per cent of the UK’s biggest corporate pension funds, which collectively oversee £479bn in assets, have a policy on climate change despite growing concern about the possible effect of global warming on returns. None of the 43 funds analysed had a target for investment in low-carbon, energy-efficient or sustainable assets, while all also lacked a decarbonisation target for their investment portfolio, according to research by Pinsent Masons, the law firm. The lack of action comes despite pressure from policymakers and investors for pension funds to factor the risks of climate change into investment decisions.
FT 4th Nov 2018 read more »