The coalition looks to improve UK buildings energy efficiency, and to address the key blockers to meeting net zero in the UK buildings environment.
The heating specialist is on board along with British Gas and Shelter. Citizens Advice will act in an advisory capacity to the coalition on the needs of, and challenges faced by consumers in the transition to net zero. NatWest Group expects to scale the coalition still further with other representatives from industry.
Seed funding invested by NatWest Group will be used to do three things - conduct research and map customer journeys to decarbonising their homes, recognising that solutions need to be accessible to all; support promising energy efficiency start-ups and SMEs to scale; and accelerate the collaborative development of financial products which consumers can access, understand and use.
NatWest Group will use COP26 as a platform to bring together the coalition, showcase progress on its areas of focus and ensure the opportunities and challenges of energy efficiency are fully understood and heard.
Carl Arntzen, chief executive of Worcester Bosch, said: “At Worcester Bosch we are committed to working with the Government, industry, and homeowners to ensure net zero targets are reached by applying the suitable technologies in every situation.
This is why we have pledged our name to the Sustainable Homes and Buildings Coalition. We believe this will help us to continue leading the way for the development of future heating technologies, such as hydrogen, while maintaining the use of alternative solutions such as heat pumps and hybrids in the relevant settings. Net zero 2050 approaches quickly, however we are confident the target can be met when the Government, industry, and customer collaborate.”
Alison Rose, chief executive of NatWest Group, said: “Tackling climate change is one of the biggest challenges of our time and for NatWest Group it is central to our purpose-led strategy. By supporting the creation of more sustainable homes, communities, and workplaces we can help people, families, and businesses to thrive. Unless and until we deal with the carbon contribution of the buildings we live, work, and play in, net zero will remain a pipedream. And this can only be done by and not to people. We will play our part in providing a voice, a platform and a helping hand to SMEs and individuals with big ideas to improve their lives and livelihoods.
As the principal banking sponsor supporting COP26 in Glasgow later this year, we’re continually looking at ways to make a difference to this agenda. With the Sustainable Homes and Buildings Coalition, we will showcase how energy efficiency can make sense for the planet and the wallet, helping our customers and communities get involved and make a difference”.
In parallel to this initiative, NatWest Group, Worcester Bosch and the other coalition partners will work with the Government to create the conditions to accelerate meaningful change in the buildings sector. This includes:
• Clear direction on the policy framework to drive decarbonisation in the building sector, akin to those seen in the motor industry.
• A stable framework of financial incentives to support building owners and consumers with the upfront costs needed to make energy efficiency improvements and low carbon heating upgrades.
• Further clarity and heightened awareness measures to drive public education and engagement.
• Policy design allowing the supply chain to scale and deliver high quality upgrades at pace.