RETROFIT CREDITS

Unlock additional retrofit funding and be part of sustainable social value innovation

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Get in touch about RETROFIT CREDITS

What is RETROFIT CREDITS?

RETROFIT CREDITS is a new carbon credits scheme that unlocks investment in social housing retrofit by verifying the emission reductions and social value of retrofit projects. It centres the impact of these retrofit activities on residents and communities by incorporating social value metrics so that the funding unlocked through carbon credits doesn’t just reduce carbon but also improves lives.

Simply put – social housing organisations receive the funding they need for retrofit projects and the RETROFIT CREDITS (carbon credits) generated from them are bought by organisations that want to offset their carbon footprint and contribute to positive social and environmental impact!

 

Each tonne of CO2e reduced is eligible for up to 20 years of crediting (RETROFIT CREDITS are issued annually for up to 20 years) reflecting the real and permanent nature of the emission reductions

What are the benefits of being a provider?

Developed by HACT and Arctica Partners, RETROFIT CREDITS is based on quality, integrity, and locality, with retrofit projects generating RETROFIT CREDITS (carbon credits) that meet the Verified Carbon Standard, and sold to organisations that want to offset their carbon emissions. RETROFIT CREDITS links sustainability goals and social value outcomes and it is available along the Social Housing Decarbonisation Fund grant, meaning you can accelerate your retrofitting plans!

  • Get additional, long-term funding for your retrofit projects
  • Understand the social value generated by your retrofit projects
  • Increase the social impact for residents and your the local community
  • Contribute to your sustainability goals
  • Built on an ethical framework

Is it really that simple?

We know, it sounds too good to be true,
so let’s break it down step-by-step!

The social housing provider enrols housing stock where retrofit works could improve the thermal efficiency of the home and/or reduce the carbon intensity of the heating source.

- Arctica calculates the potential emission reductions using the Verified Carbon Standard and projected funding available from RETROFIT CREDITS.
- HACT calculates the social value generated by the retrofit works using the UK Social Value Bank.
- The social housing provider uses the projected funding to inform their investment case for retrofit activities.

Once retrofit works are complete, Arctica originates Verified CarbonUnits (RETROFIT CREDITS) with Verra Registry backed by the certified emission reductions. This ensures the uniqueness and integrity of the credits issued.

- Arctica and HACT manage the sale of the RETROFIT CREDITS.
- The social housing provider receives payment for the emission reductions and social value created or uses the RETROFITCREDITS to compensate their unabated emissions.

Calculating the social value with The UK Social Value Bank

To calculate the social value attached to RETROFIT CREDITS, we used our UK Social Value Bank  which was developed with the sector for the sector. The social value can be aggregated to measure the impact of energy efficiency programmes at neighbourhood, place and national levels.

RETROFIT CREDITS Verified Carbon Units + Social Value

A certified product

HACT, along with our project partner, PNZ Carbon, has developed a methodology to measure the carbon savings and social value created through retrofit activity. To ensure the environmental integrity of the issued credits, this project has been developed under the Verified Carbon Standard, the world’s leading certification program for emission reduction projects. ​ 

Get in touch

Contact our Customer Relationship Lead, Antoine Pellet

Get in touch