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Building society cuts carbon with installation of new solar panels

Hinckley & Rugby Building Society is continuing its crusade to becoming carbon neutral by installing solar panels on the roof of its head office. 

The Hinckley-based office is due to have 111 panels fitted during July, which will result in a saving of approximately 21.2 tonnes of CO2e of carbon per year and will directly offset 20-25% of the head office’s annual electricity. 

Clare White, Operational Risk & Climate Manager, said:  

“The installation of the solar panels will make a significant impact on the emissions produced in the day to day running of our business. We are really excited about this important step in our pathway to net zero and we will continue to be actively committed to reducing our emissions and improve our carbon management and energy efficiency practices.”

The installation of the panels, supplied and fitted by Caplor Energy, is expected to be completed by 11 July, with the solar panels expected to be in full use by the end of the month. Business will continue as usual whilst the work is being completed. 

In a bid to become more environmentally friendly, the Society will also be installing four EV charge points – three located in its head office car park, where staff will be able to charge their electric cars; and one on the front of the building for the use of the public. The chargers will be ready to use at a later date. 

Hinckley & Rugby Building Society is committed to finding ways to reduce its carbon footprint and have a positive impact on the environment. The Society chairs the Hinckley & Bosworth Business Climate Forum, which works with other local businesses to share ideas and knowledge around reducing the environmental impact of our businesses. 

The Society became the first UK building society to complete Carbon Literacy training with the Association for Public Service Excellence.   

Chief Executive, Colin Fyfe, also spoke at a fringe event for COP26 on the green consumer finance market and ways in which lenders can help borrowers to better understand how they can reduce their carbon footprints through their homes.  

Additionally, the Society introduced a range of Green Mortgages in 2021 to allow existing members to access additional borrowing at competitive rates to retrofit their properties to increase energy efficiency.