Legal & General has announced it is going to make its new housing stock net-zero carbon enabled by 2030, this will be implemented in a phased approach across all its homes
Housing is a major contributor to carbon emissions so requires some of the most radical and immediate overhauls of any industry. Legal & General is one of the UK’s largest housebuilders by volume, and its housing platform continues to grow.
The net-zero carbon homes included will be invested in or built by Legal & General Group, including:
Delivering operational net-zero carbon on all new homes
Net-zero carbon will be achieved on all new Legal & General homes through a combination of an improved thermal building fabric and the use of environmental control systems, including low and net-zero technologies.
Legal & General has been piloting energy-saving initiatives through the design and operation of its house-building businesses.
Legal & General Modular Homes’ product portfolio which will form all future developments and consists of two and three-bedroom family homes along with one and two-bedroom apartments, meets the government’s EPC ‘A’ rating as standard (only around 1% of new and existing dwellings in England & Wales currently meet this rating1).
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.
Commitment to delivering a low-cost, low-carbon economy
Legal & General invests its capital in clean energy assets, businesses and technologies to help accelerate progress including: offshore wind, solar and fusion energy.
Recently, Legal & General has increased its stake in Pod Point, the electric vehicle charging companies, to c. 22% alongside EDF, and invested in Kensa Group, one of the UK’s largest players in the ground source heat pump technology sector, taking a 36% stake.
Planning for future developments
Commenting on the net-zero carbon plans, 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.”