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Legal & General is to make all of its new housing stock operational net zero carbon by 2030.
The insurance firm, which also builds homes through its Modular
Homes and CALA Group arms, said the commitment would apply to all homes
invested in or built by the group, including build to rent, build to sell,
later living and affordable housing.
It said net zero carbon would be achieved on all new homes
through a combination of “improved thermal building fabric” and the use of
environmental control systems, including low- and zero-carbon
Legal & General Modular Homes already offers two- and
three-bedroom family homes along with one- and two-bedroom apartments that meet
the government’s EPC ‘A’ rating as standard while Inspired Villages, Legal
& General’s later living business, have successfully reduced utility
consumption by 30% across its properties, with 10% of parking spaces reserved
for electric vehicle charging.
Nigel Wilson, chief executive of Legal & General, said: “We have to Build Back Better after Covid-19. Construction is rocket fuel for UK economic growth: every pound invested delivers a threefold economic multiplier and the housebuilding sector provides jobs and vital economic resilience. But as we accelerate building, we have to avoid stoking up a climate crisis that would be at least as serious as the covid emergency.
“Across our own housing platform, we continue to invest and progress planning for future developments, providing much needed economic stimulus and accelerating the delivery of homes across the UK. We are doing this with climate firmly in mind. By enabling all new Legal & General homes to be operationally net carbon neutral within a decade, the emission of many tonnes of greenhouse gasses will be avoided, whilst saving customers money and meeting the needs of investors who increasingly focus on sustainable solutions.”