Now in only its second year, HACT and PNZ Carbon shared the latest update from their programme which has funded the retrofitting of 16,667 homes across 37 social housing providers. This has led to an annualised carbon emission reduction of 15,123 tonnes.

Retrofit credits is a UK decarbonisation option to give private companies the opportunity to offset their emissions locally by providing a meaningful social impact for social housing residents. The annualised social value generated is c£8,750,000. Considering this huge amount of social value alongside the carbon reduction, demonstrates that retrofit not only reduces greenhouse gas emissions in the long term but also creates transformational change to individual wellbeing.

The Retrofit Credits programme, a joint initiative by HACT and PNZ Carbon, leverages verified carbon credits to unlock funding for housing retrofit projects. This innovative approach not only supports the UK’s net-zero goals but also generates significant social value for communities and residents.

Ruth Dent, director of assets and compliance at Believe Housing, a provider of Retrofit Credits, said: “They have allowed us to re-invest into further properties and extend our reach even further, giving more customers the benefits of home energy improvements which make their homes warmer, healthier, greener and more affordable to run.”

Heading into its third year, the Retrofit Credits team continue the programme and working on the impact being even more local by delivering a circular economic model with credits originating and being purchased all within the same locality. This is an important step forward for ethical decarbonisation, giving businesses the opportunity to see the impact of the carbon credit purchases and the social impact of them within their own local communities.

Head of Retrofit Credits, Antoine Pellet, said: “I would like to thank all the participants for their continued support of the Retrofit Credits programme, which assists towards increased decarbonisation of UK homes and the support of people who live in them.

“We are looking at expanding the service to reach more of the UK in 2024 onwards and increase the real, tangible difference, and positively impact to the environment and the lives of residents the programme has delivered to date.”