TrustMark welcomes the launch of the Green Home Retrofit Finance Principles (GHRFPs), which will enable property owners to invest in post-completion works that improve the energy efficiency of their properties.
The GHRFPs have been launched by the Green Finance Institute and offer a framework of guidelines for financial institutions to use when allocating lending for energy-efficiency work in UK homes. The principles will provide clear guidelines on how to process and track lending for energy efficiency works.
Simon Ayers, Chief Executive of TrustMark, says, “The Green Home Retrofit Finance Principles is a vital step in ensuring financial institutions have a set of clear and consistent guidelines when considering lending for energy efficiency improvements.
“Decarbonising heat and improving the energy efficiency in UK properties is key if we are going to deliver low carbon homes, reduce energy bills and provide healthier and more comfortable living conditions for occupiers.
“There has never been a more important time for the financial industry to develop solutions that are aligned with the Green Home Retrofit Finance Principles in an effort to help property owners fund Whole House Retrofit improvements and optimise home energy efficiency, whilst supporting the green recovery and our transition to net-zero by 2050.”
Approximately 24 million homes across the UK need retrofitting and we firmly believe it is important that a property is looked at holistically, focusing on the ‘fabric first’ so we can address the overall efficiency of the building, and improve insulation, airtightness, and ventilation. Only through a whole house approach, can a property owner determine what measures are needed for optimising home energy efficiency and ensuring the best value for money.
The Green Home Retrofit Finance Principles will provide the opportunity for the industry to create financial solutions that will help make our homes fit for the future and meet our net-zero commitment.
More information is available at https://www.greenfinanceinstitute.co.uk/ghrfp/