Bank offers £15m to help reduce fuel poverty

A bank is offering £15 million of finance to help tackle fuel poverty in the UK. Triodos Bank has created what it claims to be an industry-first lending pot to help […]

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By Jonny Bairstow

A bank is offering £15 million of finance to help tackle fuel poverty in the UK.

Triodos Bank has created what it claims to be an industry-first lending pot to help social housing providers pay for energy efficiency measures needed to improve vulnerable tenants’ standard of living.

The money will also pay for green spaces to be developed.

It will allow housing associations to make homes more sustainable and safeguard those that live there from fuel poverty.

The move is also said to be a first in that the bank will not demand security at the outset of the loan, which can often put housing associations off as they have to put some of their property at risk.

Fuel poverty in the UK is steadily rising and now affects more than 10% of households.

Bevis Watts, Managing Director of Triodos Bank UK, said: “The housing crisis has affected almost everyone in society but none more than some of the UK’s poorest and most vulnerable. Together, working with housing providers we want to ensure people can live comfortably, within their means and in healthy environments.”

The Scottish Government announced last month it is to review the definition of fuel poverty to better assist those most at risk.