Investing in Net Zero: bridging the gap between policy, finance and installation

Bankers for Net Zero (B4NZ) is at the forefront of the sustainability agenda , spearheading initiatives to accelerate the UK's transition to a net-zero economy. We recognise the crucial role played by industries such as electrical contracting in achieving these goals. Our inclusive approach creates a bridge between international net-zero commitments and practical implementation on the ground in the UK.

As the convenor of the UK Country Chapter of the Net Zero Banking Alliance, B4NZ plays a pivotal role in bringing together a diverse stakeholders. To understand what is needed to secure investment we talk to industry experts, banks, businesses, policymakers and regulators.

[edit] Retrofitting the built environment

Electrical contractors are integral to the retrofitting initiatives enhancing energy efficiency in homes and buildings. Buildings contribute to a substantial portion of global carbon emissions. At the moment, uptake of energy efficiency solutions is too low. Many consumers are facing fuel poverty due to poor energy efficiency in their homes. Additionally, finance cannot flow towards retrofits at scale until we have the right tools to measure energy efficiency. That’s why B4NZ is advocating for better retrofit policies and Energy Performance Certificates (EPC) reform.

B4NZ is working with the National Retrofit Hub to deliver retrofit at scale across the UK. Building on that, B4NZ launched a programme of work to reform EPCs to ensure this becomes a priority in the political agenda. The existing EPC metrics discourage the adoption of energy-efficient practices and heating solutions.

[edit] Automating SME supply chain emissions reporting

Large businesses, especially those in building engineering services, grapple with reporting on complex supply chains.Scope 3 emissions, often stemming from SMEs, present a reporting challenge. This is due to the absence of a dominant reporting standard. The result is unreliable supply chain data, hindering investment in net zero projects.

In response, B4NZ Project Perseus is developing a whole-of-market solution for scalable, low-effort, low-friction sustainability reporting. Perseus creates the rules and processes that make automated reporting possible. These rules will allow development of products and services, such as accounting platforms, emissions calculators, and repositioning software. In turn delivering higher-quality emissions data at scale. The COP28 launch of the Perseus report and demonstrator set the stage for a prototype to come on stream in 2024.

[edit] Collaboration with Electrical Contractors

B4NZ recognises the integral role played by electrical contractors in achieving net zero goals. In particular though retrofitting initiatives and measuring Scope 3 emissions. To address the unique challenges and contributions of the electrical contracting sector, B4NZ is keen to collaborate with ECA Members with an interest in these areas.

B4NZ addresses sector-specific needs, advocate for bold policy-making, and acts as a bridge between the public and private sectors. Please contact us to find out more.

This article appears on the ECA news and blog site as "Investing in Net Zero: bridging the gap between policy, finance and installation"X dated March 13, 2024 and was written by Elena Perez Celis, Head of policy & public affairs bankers for net zero.

--ECA

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