What’s stopping the green housing revolution?
We’re supporting the changes that can help make the UK’s houses more energy efficient – and could even contribute to an increase in property value for homeowners.
Making the UK’s homes greener and more energy efficient is an essential step in mitigating the UK’s contribution to climate change. Homes currently account for 23% of the UK’s total carbon dioxide emissions and 35% of energy use. As the demand for high-quality homes is steadily increasing across the nation, the need to decrease the resulting carbon emissions is now urgent.
While newer properties tend to have been designed with more carbon-efficient credentials in mind, there are still steps that owners of older, less energy efficient properties can take to help improve the “greenness” of their house. This can help to decrease a property’s carbon footprint and even save the owner money in the long term. However, homeowners no longer seem to be taking advantage of the available improvement options, with emission reductions from housing having plateaued over the past few years1.
Why do we need a green homes revolution?
As well as being a UK Governmental priority, making greener progress is top of the agenda across most of the UK’s most profitable industries. From the upcoming switch over to electric vehicles in 2030 in the transport and motor sector, to the emphasis on investment in renewable energy, it’s clear to see that going green isn’t only the right thing to do for the planet – it also makes good business sense. The transition to a low carbon economy – a ‘green’ economy – will support the UK’s recovery and promote long-term prosperity, while helping to make our planet more resilient and driving inclusive growth. Housing, of course, plays a vital role in this.
Housing Growth Partnership
The Housing Growth Partnership (HGP), a joint venture between Lloyds Banking Group and Homes England. We're working together to help address the need for new homes across the UK.
Supporting the transition to a greener economy
The next decade will be crucial for protecting the planet for future generations, and financial services has a critical role to play by helping to incentivise the financing of the changes required.