Unity Trust Bank Launches £100m Green Tariff to Fund Energy-Efficient Buildings

Unity Trust Bank Launches £100m Green Tariff to Fund Energy-Efficient Buildings

Unity Trust Bank, a social influence financial institution, has launched a new Green Tariff lending facility, ringfencing £100million to assist organisations implementing energy-efficient tasks. The new tariff is designed to make sustainable funding more accessible and reasonably priced by providing beneficial lending phrases to organisations trying to scale back emissions and future-proof their buildings.

The initiative is offered to each new and current clients and goals to speed up the UK’s transition to its net-zero objectives. The launch comes as data reveals that residential and industrial buildings mixed are liable for 20-21 per cent of the UK’s complete carbon emissions.

Supporting the transition to a low-carbon economic system

The £100million in ringfenced finance is offered for eligible vitality saving and carbon discount tasks. These embody the set up of low-carbon heating, improved insulation, small-scale renewable vitality technology, and local weather resilience measures.

The tariff is also designed to assist organisations that have already achieved high ranges of vitality effectivity, rewarding those who’ve beforehand invested in sustainable practices.

Matt Conroy, head of influence propositions at Unity Trust Bank, said: “With a government target for the UK to reach net zero by 2050 and the increased costs of energy, it’s important to find solutions to support our customers to move to a low-carbon economy. As a social impact bank, we believe that finance has an important role to play in achieving a greener future.”

Conroy added: “This new tariff is aimed at helping customers to significantly reduce their carbon footprint, adopt more sustainable practices and protect the environment. The terms are designed to be clear, easily understood and to provide fair value to customers through transparent pricing and tangible cost benefits.”

Building on a profitable retrofit mannequin

The new Green Tariff replaces Unity Trust Bank’s pioneering Retrofit Transition Initiative (RTI), which launched in 2023. The RTI was a profitable, award-winning programme that targeted on supporting the supply of vitality effectivity measures within the UK’s social housing inventory. To date, over 1,770 reasonably priced houses have benefited from RTI funding.

The new tariff expands this mannequin from a distinct segment focus to all of the financial institution’s clients, no matter sector.

“Through Unity’s RTI we were able to support the delivery of energy efficiency measures within the UK’s social housing stock,” Conroy added. “We will now be able to do this for all our customers through retrofit and decarbonisation improvements, energy efficiencies and clean energy technology. We also want to support organisations that have already improved the energy performance of their buildings, and contributing to a low carbon economy.”

A 40-year historical past of social influence

The launch aligns with Unity Trust Bank’s long-standing dedication to social and environmental influence. The financial institution, which has operated for over 40 years, has set its personal Net Zero goal by 2045 and is a signatory of the Fossil Fuel Non-Proliferation Treaty.

Unity excludes funding for high-carbon or high-polluting industries and assesses every mortgage proposal for its constructive social, financial, or environmental influence, aligning each mortgage to one or more of the United Nations’ Sustainable Development Goals. In 2024, the financial institution’s dedication to values-led banking was recognised with the King’s Award for Enterprise for Sustainable Development.

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