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Unity Trust Bank: Decarbonisation initiative enhancing climate action and housing standards


20 October 2023

Recognizing the urgent need to decarbonize the housing sector and improve living standards, Unity Trust Bank introduced the Housing Association Decarbonisation Initiative (HADI), which has already made a significant impact.

The importance of tackling climate change and decarbonising all sectors of the economy has never been greater. The UK government has set ambitious targets for reaching net-zero emissions by 2050, making it imperative to reduce carbon emissions across all sectors, including housing.

Housing associations play a key role in achieving this ambition. They manage over 2.7 million homes for 6 million people in England alone and the wider housing sector accounts for nearly one fifth of UK carbon emissions.

Unity Trust Bank saw an opportunity to contribute to a greener future and improve the quality of social housing. As a socially motivated bank that supports organisations that improve the lives of local communities, they introduced the Housing Association Decarbonisation Initiative (HADI).

Unity Trust Bank committed £25 million to HADI, offering funding of up to £3 million per customer for retrofitting activities in housing associations. These activities aimed to reduce carbon footprints and enhance energy efficiency in existing housing. The initiative quickly gained momentum, benefiting numerous housing associations across the UK and contributing to the country’s transition to a greener future.

Joshua Meek, Head of Impact & Sustainability at Unity, on HADI:

Unity recognises the critical importance that energy-efficient housing plays in the global climate crisis and in ensuring all people in our communities have a home. By establishing the Housing Association Decarbonisation Initiative (HADI), we have been able to support the delivery of energy efficiency measures within the UK’s social housing stock and also help families struggling during the current cost of living crisis. Our commitment to supporting housing associations through effective retrofitting activities is helping to reduce their carbon footprint and provide better quality living for people in social housing.”

Thinking bolder for a greener future

So far, 1,200 homes have benefitted from HADI.  As a social impact bank, Unity Trust Bank believes that finance can play a pivotal role in achieving a greener and more equitable future. Housing associations are central to providing affordable and supportive housing to the UK population, and Unity recognised the importance of financing retrofitting solutions for these organizations.

Unity Trust Bank’s HADI initiative is a testament to the bank’s dedication to sustainability and equity, making a tangible impact on the fight against climate change while improving the living standards of those in social housing. By consistently acting in line with their values and working with socially minded organisations across the UK to address social, economic and environmental needs, the bank is committed to helping create a better society for everyone.

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