Skip to content
Home Articles Banks advise MPs that long-term retrofit strategy can cut emissions and deliver £7.5bn savings

ARTICLE

Banks advise MPs that long-term retrofit strategy can cut emissions and deliver £7.5bn savings

Advisory group Bankers for Net Zero have published their recommendations for a long-term retrofit strategy to address carbon emissions and create jobs to support a green recovery.

Energy in the news – 17 March 2021

This week the Bankers for Net Zero group have given a recommendation to MPs calling for a ‘retrofit revolution’ that aims to drastically improve the energy performance of homes and workplaces across the UK. They presented the recommendations to MPs last week, and have now published them.

Their recommendation also warns that a short-term, piecemeal strategy (such as the recent Green Homes Grant) would not be beneficial, hindering attempts to encourage widespread retrofit, as well as reducing the amount of finance that institutions like theirs are willing to funnel into retrofitting efforts.

On the other hand, they outline that a long-term retrofit strategy would see £7.5 billion saved in energy costs annually, the creation of 150,000 jobs in green construction in 10 years, and a reduction in fuel poverty. Fully decarbonising our buildings would also address more than 20% of total carbon emissions, making a huge contribution to the country’s net zero aims.

Bankers for Net Zero is an initiative set up in July 2020, seeing banks lead discussions with businesses and government to unlock capital for a green recovery. Several banks have signed up to the initiative, including Barclays, Triodos, Handelsbanken and the Ecology Building Society.

Read the full briefing paper

Thanks for reading!

Energy Solutions Oxfordshire makes it simple for every organisation to stop wasting energy, cutting running costs whilst helping to tackle climate change. Get started by filling out our online survey to get a free Desktop Diagnosis Report for your organisation.

Get your free report

You might also like…

Consumers want businesses to be more sustainable

Using recyclable packaging, more renewable energy, and less plastic, are the top things that consumers want to see companies doing in a bid to act more sustainably, research has found. More than three-quarters (76 per cent), of 2,000 adults polled, said that sustainability and climate change are important to them – with six in ten…
Read now

Get a fully-funded energy assessment

We’re sharing news about a fantastic opportunity for Oxfordshire organisations. The Voluntary Community and Social Enterprise (VCSE) Energy Efficiency Scheme, funded by UK government, is providing building energy assessments to organisations with charitable, benevolent, or philanthropic purposes who are running frontline services. 
Read now
Home Articles Banks advise MPs that long-term retrofit strategy can cut emissions and deliver £7.5bn savings