HACT and Arctica Partners Retrofit Credits initiative announced as finalist for prestigious 2023 Ashden Award for Energy Innovation.

Of the 240 organisations who applied for the 2023 Ashden Awards, HACT is one of just two finalists in the category Ashden Award for Energy Innovation  following a rigorous assessment and judging process involving on-the-ground visits and input from sector experts.

This fantastic achievement is in recognition for our work in accelerating the UK’s net zero journey through our Retrofit Credits initiative, the first carbon credit in the world focused on additional funding for the retrofit of homes. The initiative has only been recently rolled out following the huge success of the initial pilot from the past 12 months. It not only captures the carbon emission reductions created by retrofit works but also incorporates the positive wellbeing impact for those living in these homes, thanks to metrics contained within the UK Social Value Bank.

At HACT we’re passionate about the importance of the decarbonisation of homes for residents, to a standard that is both comfortable and energy efficient. But we are aware that it can be expensive. And with homes accounting for almost a quarter of the UK’s total carbon emissions these homes represent the largest barrier to reaching net zero before 2050.

When we developed our Retrofit Credits initiative to help with this issue, we knew it was a game-changer for the sector – what we didn’t expect was to be short-listed so soon for an award.

The credits originated through the pilot alone will generate about £100,000 in revenue this year. Over the next twenty years, we forecast that these credits will raise over £7 million that can be reinvested back into retrofit works. The interest has been overwhelming from both those carrying out the works and those wanting to invest in credits meaning the environmental impact along with the positive social value impact on residents’ wellbeing is set to exponentially grow.

Andrew van Doorn, HACT’s chief executive is delighted that the project has been recognised so quickly:

“I’m incredibly proud that our Retrofit Credits scheme has reached the final of such a prestigious award in such a short period of time – and even more delighted to see the HACT and Arctica team’s hard work being recognised by Ashden.

The future potential for this initiative is huge in being able to make an impact in supporting the delivery of warm, comfortable and energy-efficient homes for residents improving their wellbeing along with levering even more resources for us to achieve net zero’.

Simon Turek, Managing Director at Arctica Partners, said: 

“I’m delighted that the Retrofits Credits scheme, delivered alongside HACT, has been recognised by the prestigious Ashden Awards. Our one-of-a-kind scheme has the potential to rapidly decarbonise the UK’s housing stock, and we’re proud that this scheme also delivers significant social value by helping to create warmer, more efficient homes for generations to come.”

Ashden, a UK charity, has been spotlighting transformative climate solutions for more than 20 years through their prestigious Ashden Awards scheme.

Dr Stephen Hall, Head of Awards at Ashden, said: “Our finalists are boundary-pushing pioneers cutting emissions and restoring nature. Crucially, they show how green jobs and community projects can drive a just transition and more equal society.”

“This blows apart the ridiculous idea that net zero will make us all worse off. Politicians should put our finalists and other trailblazers at the heart of inclusive, ambitious plans for a sustainable future.”

The finalists for all Awards will be judged by international specialists on each award category. The winners will be announced in London in-person/online on 14 November 2023. Winners will receive financial and strategic support.

ENDS

Notes to Editors: 

1. Announcement: The Ashden Awards finalists will be announced on the 4^th September 2023 [at Africa Climate Week – NOT NEEDED FOR UK-BASED ORGANISATIONS].
2. 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
3. About Arctica Partners Arctica Partners funds the affordable decarbonisation of British homes through the sale of transparent, UK-generated carbon credits to corporate buyers, without the need for further Government spending or the imposition of costs on households.

4. Available for interview:
   Andrew van Doorn, HACT Chief Executive
   Antoine Pellet, HACT Head of Retrofit
   Simon Turek, Director at Arctica PartnersContact:
   Emma Greenwood, HACT Head of Marketing
   e: emma.greenwood@hact.org.uk
5. About Ashden: Ashden’s mission is to accelerate transformative climate solutions and build a more just world. Through awards and programmes, Ashden promotes and supports climate and energy innovators – including businesses, non-profits and public sector organisations. Find out more at https://www.ashden.org/.

6. About the Ashden Awards: Eight Ashden awards highlighting proven solutions to the climate crisis and energy access challenges will be announced in November 2023 before COP28. Winners receive a cash prize, development support, and the chance to connect with investors and leading figures in the energy and climate sectors. Since 2001, Ashden has awarded more than 245 ground-breaking organisations.
7. Interviews with 2023 Ashden Award Finalists can be arranged on request.
8. Dr Stephen Hall, Head of Awards at Ashden is available for interview. Dr Hall has a background in Energy systems change, low carbon finance and sustainable cities. Contact Ashden Press Lead wheat@ashden.org   Mob. 07950 953004