International law firm Trowers & Hamlins has partnered with the innovative HACT Retrofit Credit Scheme - the first carbon credit initiative of its kind, in the UK and worldwide.
Delivered by the Housing Associations' Charitable Trust (HACT) in collaboration with PNZ Carbon and certified by the Verified Carbon Standard, the scheme unlocks funding for the decarbonisation of social housing, delivering measurable environmental and social value.
Trowers & Hamlins' participation in the HACT Retrofit Credit Scheme is a key component of the firm’s broader sustainability and social impact strategy, with an ambition to achieve a 90% reduction in carbon emissions by 2050 and to help build a world that is environmentally and socially sustainable.
Chris Paul, Head of the Energy and Sustainability team at Trowers, commented:
"Reducing our own emissions remains our primary focus, but we also recognise that there are actions we can take to address the climate crisis beyond our immediate impact. The HACT Retrofit Credit Scheme facilitates essential funding for retrofitting the UK’s social housing stock with improved insulation and low-carbon heating systems. By leveraging the UK Social Value Bank to quantify the positive impact on residents' lives, this initiative builds on the valuable work we’ve been doing in the affordable housing sector for many years."
The decarbonisation of homes is widely regarded as a crucial factor in achieving the UK's net zero target. Retrofitting social housing is crucial to this effort, improving not only environmental outcomes but also the quality of life for residents. As a trusted advisor in the housing sector, Trowers & Hamlins participation in the HACT Retrofit Credit Scheme has delivered a 120 tCO2e reduction and generated £69,480 in social value, as measured by the UK Social Value Bank, which assesses residents' well-being as a primary indicator of social impact.
Antoine Pellet, Head of Retrofit Credit at HACT, added:
"It has been a real pleasure working with a such well regarded and influential group as Trowers & Hamlins on the collaboration of their support of Retrofit Credits, not only the monetary terms to assist with the decarbonisation of UK social housing but also all their support bringing the impact of the project to the sector.
"HACT and PNZ Carbon would like to thank Trowers & Hamlins for their support, which has created a real, tangible difference, and positively impacted the environment and the lives of residents with the funding of the retrofit measures undertaken on UK social homes. This has resulted, as Chris Paul mentions in the reduction of multiple tons of CO2 and facilitated thousands of pounds worth of positive social value impact for the people who live in them. We very much look forward to a continued and strong collaboration for many years to come."
