BusinessLDN unveils 10-point plan to accelerate capital's retrofit revolution

Muniya Barua, deputy chief executive at BusinessLDN, said; 

​“At a time when the capital is facing a cost-of-living squeeze, retrofitting can help Londoners cut their energy bills while also helping the environment and economy. 

​“Homeowners seeking to make their homes more energy efficient face a maze of complex process, confusing regulation and high upfront costs. 

​“That’s why we’re calling for a bold package of measures to encourage more homeowners to take the plunge, including a major awareness raising campaign, new financial incentives, as well as ensuring local authorities and the construction sector have access to the resources and talent that they need to deliver the retrofit revolution the capital needs.”

BusinessLDN is calling for: 

1. A London-based retrofit awareness campaign led by the Greater London Authority and Energy Savings Trust to shift public perception so that homeowners can more easily understand the wide-ranging benefits that retrofitting offers including economic, health and comfort while helping to tackle climate change.
2. Greater devolution of powers to London’s boroughs including more dedicated funding and training to streamline the retrofit process.
3. A Stamp Duty that is adjusted based on the home’s EPC rating which can push homeowners to make energy efficiency improvements to their home within two years of purchase and in turn benefit from a stamp duty rebate.
4. A simplified, streamlined grant programme that brings together existing ones and ultimately uses a home’s actual energy usage to determine the level of available funding. This would help homeowners better navigate the process.
5. A ​’building passport’ for all homes, which will help understand a home’s performance and how to improve it, collated in a pan-London green housing registry for easy comparison and data transparency.
6. Tailored financing mechanisms for individuals using existing products such as green mortgages but also innovative financing methods, such as social enterprise lending options with the support of local authorities, for first movers.
7. Bigger scaled financing solutions for whole communities to create the necessary scale for investors to direct their capital.
8. An industry-funded recruitment campaign across London to attract diverse talent and close the skills gap in construction.
9. Faster development of apprenticeship standards for retrofits covering new legislation, technical expertise and a sustainability mindset.
10. Established and accredited retrofit ​‘one-stop shop’, making it easier for homeowners to seek expert guidance along any stage of the retrofitting process. 

The Rt Hon Chris Skidmore OBE MP, chair Net Zero Review and MP for Kingswood, said; 

​“Tackling the UK’s buildings emissions is key to reaching net zero. Decarbonising owner-occupier homes is essential if we are to deliver the change that is needed. 

​“London has a critical role to play in delivering the retrofit revolution that is needed across the country so I welcome this action plan from BusinessLDN. Following on from our recent Mission Retrofit report, it will help to catalyse action from individuals, the public sector and private sector.”

Cllr Kieron Williams, chair of London Councils’ Transport and Environment Committee, said:

​“Boroughs are determined to make homes and buildings in London warmer, greener and more energy efficient through retrofit. In fact, this is one of the key priorities for our collaborative Climate Change programme. 

​“We know that people across the capital support councils and businesses in wanting to move to a more sustainable way of living and are crying out for ways to save money on their energy bills to help them through the cost of living crisis. 

​“It’s fantastic to see London’s businesses also making a commitment to accelerating retrofit of owner-occupied homes. With this dual approach, we can learn from each other and maximise the impact we have as we bring London’s carbon emissions down to net zero.”

Anna Moore, chief executive officier at Hestia, said: 

​“Retrofit is not only the right thing to do, it’s also profitable. London has a chance to show global leadership – unlocking high-quality jobs and building cleantech champions.”

At Unlock Net Zero Live on 22nd November we will be looking at the local approach to net zero solutions and how cities are combining placemaking, living and the net zero challenge. Register now to hear from speakers from London Councils, Places for People and Anthesis