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19 Oct 2021

NatWest responds to UK Government’s Heat and Buildings Strategy

The UK Government has published its Heat and Buildings Strategy, providing further clarity on the UK’s pathway to net zero.

The UK Government’s Heat and Building strategy provides a much-needed framework of incentives to tackle head-on the decarbonisation of the UK’s building stock, without which reaching net zero will remain an out of reach ambition. 

Learning lessons from past policies, this strategy provides greater clarity on the long-term ambition the Government has for decarbonising the UK’s built environment, with stronger and bolder targets for the domestic sector.

NatWest Group launched the ‘Sustainable Homes and Buildings Coalition’ in July 2021, with British Gas, Worcester Bosch, and Shelter - and Citizens Advice acting in an advisory capacity - to improve UK buildings energy efficiency, address the key blockers to meeting net zero in the UK buildings environment, and ensure the consumer is placed at the heart of this project of national significance. 

The commitments outlined in the Heat and Buildings Strategy today are essential steps in the right direction. However, we believe that greater emphasis should be placed on making the journeys consumers will need to embark on as clear and simple as possible. 

That’s why this week, we will be launching our new report ‘Home is where the Heat is’; providing individual consumers with a clear pathway to engage in the decarbonisation of their homes and buildings will be the vital ingredient to ensure Government’s strategy is successfully delivered in an economically sound and socially just manner.

The Sustainable Homes and Buildings Coalition stands ready to engage and work with Government, local authorities, and industry to make sure the voices of consumers and businesses are fully heard to inform how the transition is funded. The Coalition look forward to supporting the creation of more sustainable homes, communities, and workplaces where people, families and businesses can thrive, while playing their part in reaching net zero.

Lloyd Cochrane, Head of Mortgages at NatWest said: “We welcome the Government’s Heat and Buildings Strategy which provides further clarity on the UK’s pathway to net zero. At a time when consumers are anxious about the impact of rising energy prices on their livelihood, it provides a much-needed framework of incentives to tackle head-on the decarbonisation of the UK’s building stock, without which reaching net zero will remain a pipe dream.

“As the principal banking sponsor supporting COP26 in Glasgow next month, we want to support customers in making greener choices. Providing individual consumers with a clear pathway to engage in the decarbonisation of their homes and buildings will be the vital ingredient to ensure Government’s strategy is successfully delivered in an economically sound and socially just manner.’

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