The Green Finance Institute has launched a new taskforce to help unlock the investment needed for the rapid adoption of zero carbon heating technologies in the UK.
The Zero Carbon Heating Taskforce consists of a focused group of members from the Green Finance Institute’s Coalition for the Energy Efficiency of Buildings (CEEB) from financial services, local and national government, energy and construction industries, academia and civil society, along with experts from the heating sector.
Members of the Taskforce include individuals from The Association for Decentralised Energy (ADE), BEIS, Centrica, E.ON, Enfield Council, Greater London Authority (GLA), Octopus Energy, Vattenfall and the Welsh Government.
The Taskforce will conduct a focused review to identify the barriers and enablers to investment into low carbon heating across the UK housing market, including for on and off gas grid homes, new builds and district heating networks.
It will leverage these findings to co-design and launch a series of new financial products and non-financial enablers to help channel investment into the sector.
Heating and hot water in homes together account for almost 40% of the UK’s energy consumption and 20% of total greenhouse gas emissions.
To meet the UK Government’s 2050 net zero targets, near-complete decarbonisation of our heating systems is required.
Dr Rhian-Mari Thomas, Chief Executive of the Green Finance Institute said: “Focusing on the heating and hot water in our homes is a natural next step for the Coalition for the Energy Efficiency of Buildings, which is working to create financial pathways to the wide-scale adoption of retrofitting across all residential tenures.
“We are delighted to convene this group of experts to move quickly to launch financial products and mechanisms enabling every home to access zero carbon heating.”
The Green Finance Institute is an independent, commercially-focused organisation supported by the Treasury, BEIS and the City of London Corporation.