The UK Government and City of London Corporation-backed Green Finance Institute established the Coalition for the Energy Efficiency of Buildings (CEEB), in December 2019. The focus of this coalition was to develop the market for financing net-zero carbon, resilient buildings in the UK. by accelerating a move towards retrofit and development of climate-resilient housing stock.
Clarion Housing Group has contributed to the coalition’s phase one report, Financing energy efficient buildings – the path to retrofit at scale, launched today (20th May). The report demonstrates the urgent need for an increase in the pace and scale of investment into the energy efficiency and resilience of UK residential buildings. It also sets out a portfolio of financial solutions to drive participation on a national scale, with the potential to contribute substantially to a post-Covid-19 green and inclusive economic recovery.
The report outlines 21 ‘demonstrator’ solutions that were co-designed by the Coalition that includes financial, data and standards-based solutions to overcome barriers to scaling up finance, as well as assessment and policy levers that could bolster the commerciality and scalability of these solutions. The next steps for the Coalition will be to take forward a selection of these pilot solutions, enabling a practical demonstration of their viability with their launch later this year. The demonstrators outlined in the report fall into six groups:
- Lending products – including Property Assessed Clean Energy (PACE) loans, equity release mortgages
- Savings and investment products – including community municipal bonds and ISAs
- Guarantee mechanisms – backed by the Government or by insurance companies
- Tenancy agreements – green leases
- Energy service products – enabling housebuilders to recoup investment
- Data and enabling frameworks – including building renovation passports and standardised energy saving methodologies.
Will Ray, Head of Sustainability, Clarion Housing Group said: “As the largest social landlord in the country, we are pleased to have been able to contribute to this important report. Clarion was the first housing association to be awarded the Sustainable Housing Impact Label and we are looking forward to working with CEEB partners to explore new ways to accelerate progress on retrofitting our homes. We want all of our residents to be able to live affordably and sustainably.”
To read the full report please visit here.