London housing plan announced to help achieve net zero

The capital’s local authorities have agreed a joint plan to cut carbon emissions from London’s 3.8 million domestic buildings and achieve net zero, which could see £98bn invested in the green economy.

The boroughs have committed to upgrading all housing stock to an average energy performance rating of EPC B by 2030, with the local authorities calling on ministers to increase local government resources ahead of the Spending Review and COP26 to achieve this goal.

Homes are responsible for around a third of London’s greenhouse gas emissions, with research underpinning the plan finding that if London continues to emit CO2 at current levels its entire carbon budget will be used by 2027.

The London Councils estimate that this target will support 200,000 jobs linked to insulating and retrofitting by 2030, boosting the capital’s economic recovery from the pandemic and encouraging growth in green industries.

London Councils are calling on the government to use its Spending Review to announce £30m of up-front funding for the next phase of the UK Cities Climate Investment Commission work, which will help unlock over £200bn private investment to deliver net zero across the UK’s biggest cities, as well as the delivery of the £3.8bn Social Housing Decarbonisation Fund and £2.5bn Home Upgrade Grant.

The local authorities are also calling on the government to introduce new financial incentives to encourage private retrofitting, such as green mortgages offering lower rates and a variable Stamp Duty Land Tax for more energy-efficient homes.

Philip Glanville, mayor of Hackney and chair of London Councils’ Transport and Environment Committee, said: ‘Achieving net zero is undoubtedly a momentous challenge – but it’s also an invaluable opportunity to work with communities in improving energy efficiency, embedding green skills, and driving a green economic recovery.

‘This is a vital investment in a greener future for London and the whole UK. Retrofitting on this scale will bring immediate benefits by creating new jobs while also at this crucial time lowering Londoners’ fuel bills, cutting carbon emissions, and addressing the climate emergency. As we approach the Spending Review and COP26, the government should seize the day and boost local funding for this important work, which is integral to the UK’s ability to make net zero happen.’

Joanne Drew, co-chair of the London Housing Directors’ Group, added: ‘Boroughs are fully committed to the home retrofit agenda and are proud to pioneer a new collaborative approach. Our plan identifies the steps needed to turn ambition into reality, setting out the costs involved and measures we will take to work with residents and landlords.’

Photo by Alex Tai