Along with Johnson’s announcement, the UK government legislated that the UK would need to be completely net zero by 2050.
The term net zero is important because, with regard to CO2 at least, this is the state at which global warming stops. To “go net zero” is to completely reduce greenhouse gas emissions, either by offsetting what is produced or ensuring there are alternative forms of sustainable energy.
What relation does net zero have to the UK’s green agenda, and what are the plans to get there?
What is the green agenda?
As noted, the UK government came together to form a legally binding commitment to achieving net zero. Anything that aims to achieve this forms an inherent part of the green agenda. It’s an outlined plan with set phases and benchmarks, and is meant to provide a framework which both businesses and consumers can work through.
Former prime minister, Liz Truss, seemingly wanted to axe the majority of the green agenda’s core principles.
For example, she was insistent on reinstating fracking1. She tried to ban solar generation in most of England’s farmland2, as well as weaken environmental protections still valid under the retained EU law bill by scrapping it3.
That being said, the new Prime Minister, Rishi Sunak, has mentioned reimposing the ban on onshore wind farms4, which Truss wanted to remove.
While it's clear there is heated debate about how we get to net zero, the government at least agrees that we need to get there. Johnson’s plan, as of 20205, involved the following 10 key points the UK needed to follow:
The Ten Point Plan
- Advance offshore wind
- Drive the growth of low carbon hydrogen
- Deliver new and advanced nuclear power
- Accelerate the shift to zero emission vehicles
- Push for green public transport, cycling, and walking
- Invest in green ships and planes
- Invest in greener buildings
- Investing in carbon capture, usage, and storage
- Protect the natural environment
- Push for green finance and innovation
Why net zero by 2050?
There are several reasons the UK has set a target date of 2050. Namely, as the Committee on Climate Change advised7 that should the world follow suit, there would be a 50% chance of avoiding a ‘catastrophic’ temperature rise of 1.5°C by 2100.
If the world can limit the temperature increase to 1.5°C or less, we could stave off further climate disruptions that could make global hunger, conflict, and droughts worse all over the world.
As much as we’d all like for this to be something that happens overnight, it simply can’t be.
There is a great deal of work that needs to be done and a lot that needs to change in order for us to see the green agenda at work.
2050 was seen as the first actual date anyone could achieve net zero emissions, though many will need to be in place by 2030 in order to have a chance of making a difference.
How will the UK’s green agenda affect the property market?
We’re committed to providing clear and accessible information for the housing market. With everything involved in the net zero campaign, it can be all too easy to get overwhelmed with information.
First, we should note that there are several ways in which a home can be made greener, not only by developers, but also by homeowners. This includes the materials used to build the homes, how they’re powered and the level of automation inside.
Sourcing recycled, biodegradable and sustainable materials instead of choosing non-renewable resources can significantly decrease the carbon footprint of a home. We can all do this in easy ways, including using local suppliers for materials, or investing in eco-friendly products, like organic paint.
We also need to make considerations for how a property is impacting the environment, which is why there is also so much conversation about EPCs and energy efficiency at the moment.
What you can do to help
Whether it’s retrofitting your home, investing in smart appliances, or choosing local over international, every bit helps towards preserving our natural world.
Although the government has plans in place, they’re not possible without everyone’s help. There are actions we can all take to contribute, and if you’re in a position where you’ve made your home more energy efficient and have improved your EPC rating to an A or B, consider moving to a green mortgage, which incentivises homeowners to up their green credentials. You could also consider remortgaging as a way of funding home renovation projects and improving your property’s energy efficiency.
Get in touch with us today for more information or to talk through your options for retrofitting your home to meet the UK’s net zero goals.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
The rise of the green consumer
The UK’s path to net zero
