BPF: Sunak U-turn on net zero “deeply frustrating”
The chief executive of the British Property Foundation (BPF) has branded the Prime Minister’s decision to alter a number of climate change policies as “deeply frustrating” for investors and property owners.
Melanie Leech said the changes in policy will cause problems for property professionals who have already made long-term plans and financial commitments to adhere to climate change targets.
She added that despite Rishi Sunak having said the Government remains committed to a 2050 net zero target, pushing back planned milestones is “the opposite of what [the BPF] need[s]”.
The Prime Minister announced on Wednesday that the Government would be making a number of exemptions and delays to several key climate policies.
Included in the changes is the scrapping of energy efficiency targets for landlords. The Government had originally planned to implement a policy from 2025 in which tenancies would only be possible at properties with an Energy Performance Certificate (EPC) rating of C or higher. From 2028, this policy would also apply to existing tenancies.
Melanie Leech added: “While we understand the need for pragmatism to support households, businesses need certainty in order to invest. Changing the strategic goalposts will deter investment, make the task of meeting the 2050 target much harder and mean more inefficient older buildings are left ‘stranded’ with an economic drag on town and city centres.
“We urge Government to provide and commit to a clear timetable for decarbonising the built environment to accelerate rather than hold back the pace of change.”
The Prime Minister’s decision has faced backlash from other groups, such as the Climate Change Committee, which said that the UK had “moved backwards”. The group had already warned that the UK’s efforts to achieve net zero commitments were “worryingly slow”.