New Finance Model Could Unlock £70bn For UK Building Decarbonisation

2024-11-04 17:06

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Wedoany.com Report-Nov 4, A recent report from the Green Finance Institute (GFI), alongside Lloyds Banking Group and NatWest Group, introduces Property Linked Finance (PLF) as a promising solution to accelerate investment in energy efficiency upgrades for UK buildings.

This innovative financing mechanism could unlock between £52 billion and £70 billion in private capital, significantly contributing to the UK’s net zero goals and addressing the current inefficiencies in residential and commercial properties, which account for 23% of greenhouse gas emissions.

PLF links financing to the property rather than the owner, allowing the payment responsibility to transfer to new owners upon sale.

This means homeowners pay for upgrades only until they sell, while new buyers enjoy the benefits of improved energy efficiency and potentially lower energy costs.

The GFI’s report stresses the need for government support and the establishment of pilot programmes to roll out PLF effectively.

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