The first landmark report by the Scottish Green Heat Finance Taskforce signals a strong direction of travel towards financing decarbonisation of homes and buildings.
As an original member of the Taskforce, UKGBC Scotland welcomes the report’s recommendations that have the potential to galvanise broad support and drive accelerated action across the built environment industry, local authorities, and the Scottish Government.
The Taskforce report demonstrates that Scotland continues to need strong leadership and policy certainty to navigate the green transition, particularly in light of the Scottish Government’s regrettable delay to publication of its Climate Change Plan beyond the end of November.
The report outlines key areas for partnership and collaboration across the built environment, financial sector, and Government ranging from expanding the current market and supply chain to rapidly investigating the power of fiscal and taxation incentives for property owners to improve their properties . The report also includes a key UKGBC recommendation to help build consumers’ understanding of how to choose the right financial product for the clean heating system that is best for them.
Responding to the report, Simon McWhirter, Deputy Chief Executive of UKGBC said:
By providing a clear and comprehensive call-to-action, this report can drive much-needed momentum towards making the green transition affordable and accessible across Scotland.
“So far, the accelerating climate emergency has outpaced our efforts to seed a mature green finance market – this report is a vital step in turning that tide in Scotland.
“We’re particularly encouraged that the Taskforce will explore blended private and public investment models and fiscal incentives for domestic and non-domestic property, which are brilliant opportunities to remove up-front costs to households and unlock the mass-market to deliver solutions at speed and scale. Upcoming consultations on the Heat in Buildings Bill should continue these conversations and ensure that meaningful engagement with citizens and industry are at the heart of the Scottish Government’s decarbonisation strategy.
“Together with our Taskforce colleagues, we will continue to urge the Scottish Government to utilise these recommendations to design and deliver ambitious policy commitments.”