Hinckley & Rugby Building Society’s Chief Executive, Colin Fyfe, is speaking at a COP26 fringe event today, discussing the green consumer finance market and ways in which lenders can help borrowers to better understand how they can decarbonise their homes.
Speaking on the panel of the COP26 Build Environment Virtual Pavilion, Colin will present on Decarbonising the UK’s housing stock: Finding the £250 billion. He will explore the local initiatives which are helping to drive awareness of the need for property retrofitting and discuss initiatives which lenders can use to engage consumers and help to improve their understanding of how they can reduce their carbon footprints using their homes.
Currently, 30%* of the country’s total greenhouse gas emissions come from the UK housing market. The target for all homes to have an EPC rating of at least C is currently 2025, with 2030 being a checkpoint for the UK as it aims towards its net zero target by 2050.
The expected investment to reach the decarbonisation target is £250 billion.
The Society has already begun taking steps towards reducing its carbon footprint, having recently achieved Pioneer status with the Green Finance Institute’s (GFI’s) Green Home Finance Principles (GHFPs) through the introduction of its Green Mortgages – a range aimed at existing borrowers wanting to improve their homes’ energy efficiency. Additionally, through its partnership with Eforests, the Society will plant a tree for every green mortgage taken out.
During the summer, the Society became the first building society in the UK to complete Carbon Literacy training with the Association for Public Service Excellence (APSE), which has been approved by the Carbon Literacy Project. Through this training, ten members of staff learnt more about climate issues and covered the ways in which Hinckley & Rugby can become a more environmentally friendly organisation.
Colin will be delivering his presentation at 12.10pm on Wednesday 3 November. Listeners can register to listen.
The 26th United Nations climate change annual conference is taking place this week in Glasgow, with world leaders and tens of thousands of businesses, government representatives and citizens due to attend over the twelve-day event.
*Figure sourced from the Environmental Agency.