It’s only been 12 months since the launch of Retrofit Credits, a new initiative from HACT and its partners PNZ Carbon, but it has already been successful in winning the prestigious annual Ashden Award for Energy Innovation in the UK.
HACT and PNZ's Retrofit Credits award the Ashden Award for Energy Innovation 2023
At a ceremony held on 14th November, HACT was joined by other Ashden Award winners from India, Cameroon, Nigeria, Uganda and Kenya. All the Ashden Award winners were showcased in a ceremony at the Royal Geographical Society and will receive grants, global publicity, and connection to funders, investors and partners who can help them scale their projects and create even more impact.
This is a considerable achievement in recognition of HACT and PNZ Carbon’s work in facilitating the UK’s transition to net zero by funding the affordable retrofitting of British homes from the commercial demand for transparent, localised carbon credits.
Retrofit Credits not only capture each tonne of carbon reduction created by retrofit works but also have an attached social impact value, based on the UK Social Value Bank, another of HACT’s pioneering initiatives. This enables buyers of our credits to model, monitor, and measure their social impact through improvements in resident health and wellbeing
“We’re incredibly honoured to have won this fantastic and
highly acclaimed Ashden award.
Retrofit Credits is all about impact and we’re excited about
the future and our next ambition for delivering this impact
at scale – for people, for place, and ultimately, for our planet.”
Andrew van Doorn OBE
HACT Chief Executive
As a result of the Energy Redress Scheme funded pilot, Retrofit Credits will raise over £7 million that can be reinvested back into retrofit work. That’s equivalent to another 500 homes being retrofitted, which is another 500 families with warmer, more energy efficient homes, as well as huge reductions in carbon emissions.
HACT is passionate about decarbonising homes for social housing residents, but this is only one part of the story. We want the investment that results from Retrofit Credits to be locked into local communities, delivering good jobs, affordable warmth and place-based community renewal, for the benefit of local people.
HACT’s future plans are ambitious – their core focus is to deliver Retrofit Credits at scale through more partnerships, more buyers, new financial instruments, and increased investment, so they can create more impact for individuals and communities.
Andrew van Doorn, HACT’s chief executive is delighted that the project has been recognised so quickly:
“We’re incredibly honoured to have won this fantastic and highly acclaimed Ashden award and be recognised, along with our partners PNZ Carbon, for all the hard work from those involved in making our Retrofit Credits ambition a success.
We’d also like to acknowledge the 22 social housing organisations who participated in our successful pilot, and those buyers who invested in the credits, believing in our vision and supporting us in proving its success – as well as those residents whose homes were retrofitted.
Retrofit Credits is all about impact and we’re excited about the future and our next ambition for delivering this impact at scale – for people, for place, and ultimately, for our planet. “
“These brilliant solutions need serious backing from policymakers
and investors. For example, this year’s winners include innovations,
such as those from HACT, that could unlock millions of pounds to create
warm, energy efficient homes across the UK –
surely that’s a scheme worth supporting?”
Dr Ashok Sinha
Ashden CEO
Simon Turek, Managing Director at PNZ Carbon, said:
“This award represents the future of domestic retrofitting and the huge social and climate benefits we stand to reap from channelling investment into these projects.
It’s clear that we all have a role to play in the net zero transition and that government action alone on greening housing won’t suffice. Investors hold the power to drive their capital into the most effective climate and social solutions through high-quality carbon credits generated from retrofitting in their local communities.
Retrofit Credits are poised to be a game-changer for housing in the UK, delivering environmental benefits for investors, while harnessing funding to create healthier, more affordable, energy-efficient homes and improve lives.”
Ashden CEO Dr Ashok Sinha said: “Our winners prove people are passionate about creating practical solutions to the climate emergency – whether giving their time to restore rivers in the UK or using clean energy to power up a thriving business in Uganda. And just look what happens as a result: higher incomes, better health, stronger communities and the creation of new jobs.
“But these brilliant solutions need serious backing from policymakers and investors. For example, this year’s winners include innovations, such as those from HACT, that could unlock millions of pounds to create warm, energy efficient homes across the UK – surely that’s a scheme worth supporting?”
NOTES
Press contacts:
Emma Greenwood, HACT Head of Marketing,
greenwood@hact.org.uk
+44 (0) 7814375996
PNZ Carbon
press@pnzgroup.co.uk
Interviews:
Winners Video – can be downloaded here
1-page insight summaries for the HACT’s winning entry .
About HACT: As the charity of the social housing sector, our core values of innovation, collaboration and insight have driven the transformation and development of housing providers for over 60 years. We believe the provision of housing is about more than just bricks and mortar – it’s about enhancing peoples’ lives. HACT partners with organisations to drive value for individuals and communities through insight-led products and services, encouraging innovation and fostering collaboration.
hact.org.uk
LinkedIn– /hact-housing
Twitter – @HACThousing
About PNZ Carbon: PNZ Carbon (part of PNZ group) is facilitating the UK’s transition to net zero by 2050, by funding the affordable decarbonisation of British homes from the commercial demand for transparent, localised carbon credits. We are the only project developer in the world originating carbon credits for decarbonising housing stock and the only developer with projects in local UK communities. We work with local buyers to fund local projects which deliver demonstrable benefits and social value in their areas. Our credits measure not just tonnes of carbon reduction, but the social value that warmer, more energy-efficient homes deliver for people and communities.
LinkedIn – /pnz-group
Twitter – @pnz_group
About Ashden https://www.ashden.org/
Ashden is a UK-based charity collaborating with organisations in the UK and Global South, which accelerates transformative climate solutions, to build a more just world. It creates impact through the Ashden Awards, programmes and campaigns. These empower innovators and communities to take on the biggest climate challenges. https://ashden.org/
The Ashden Awards boost outstanding climate solutions. For more than 20 years the awards have backed radical ideas delivering lower emissions and a fairer world, with grants and development support on offer to winners and finalists. Since 2001, more than 261 ground-breaking organisations have won an Ashden Award, recognising their vital role in using innovative solutions to climate change, poverty alleviation and community resilience.
Uniquely incorporating social value, and built on and ethical framework, all credits are Verified Carbon Standard
providing credits with the integrity to help individuals, communities and organisations on the Net Zero journey.
It is UK-based, only the second verified scheme to be so
It is the only project in the world originating carbon credits for the decarbonisation of housing stock
It incorporates social value, measuring the positive impact retrofit has on residents’ lives.
If you would like to learn more simply get in touch and we’d be happy to chat further
Antoine Pellet
Customer Relationship Lead
Through our expertise, we’ll ensure your data and the application of your social value measurement adds up. Providing a full report, along with the HACT certification stamp of approval, we’ll provide observations and recommend improvements to the way you measure social value moving forward.
WATCH THE VIDEO