Green Heat Finance Taskforce: report part 1 - November 2023

Footnotes

1 For heat consumption: Non-electrical heat consumption by sector

For total energy consumption: Total final energy consumption by consuming sector

2 As above

3 Supporting documents - Scottish House Condition Survey: 2021 Key Findings - gov.scot (www.gov.scot)

4 Supporting documents - Scottish Greenhouse Gas Statistics 2021 - gov.scot (www.gov.scot)

5 For more details, please see the Update to the Climate Change Plan: Update to the Climate Change Plan 2018 - 2032: Securing a Green Recovery on a Path to Net Zero (www.gov.scot)

6 Please see chapter 10 of the Heat in Buildings Strategy for more detail on non-devolved area of energy policy.

7 Scottish Emission Targets & Progress in reducing emissions in Scotland – 2022 Report to Parliament,

8 Energy Performance Certificate Reform Consultation - Scottish Government - Citizen Space

9 Net zero: Investor Panel - gov.scot (www.gov.scot)

10 Supporting documents - Heat in Buildings Strategy - achieving net zero emissions in Scotland's buildings - gov.scot (www.gov.scot)

11 This Parliamentary session runs for five years from May 2021.

12 Please find the Terms of Reference and membership of the Taskforce here.

13 Green Deal and Energy Company Obligation - National Audit Office (NAO) report

14 Description of blended Finance on the Convergence website

15 Paper by Professor Mariana Mazzucato and Laurie Macfarlane on a mission oriented framework for the Scottish National Investment Bank

16 HÖHNE, N., BURCK, J., EISBRENNER, K. & VIEWEG, M. 2009. Scorecards on the best and worst policies for a green new deal, London (E3G & WWF), Ecofys/Germanwatch.

17 https://www.kfw-entwicklungsbank.de/PDF/Download-Center/Materialien/2018_Nr.6_Lessons-Learnt-from-Germany-and-Emerging-Economies.pdf

18 Investors incorporate ESG standards into their sustainable funding packages

19 Green Technical Advisory Group (GTAG) Terms of Reference

20 Solvency II | Bank of England

21 [A.] Parker, M., Guthrie, P., 2016. Crossing the energy efficiency chasm: an assessment of the barriers to institutional investment at scale, a UK perspective. Journal of Sustainable Finance & Investment 6, 15–37. [

B.] Climate Strategy, COWI, d-fine, Directorate-General for Energy (European Commission), EEIP, EnergyPro, Fraunhofer ISI, ICCS-NTUA, Viegand Maagøe, 2022.

[C.] Report on the evolution of financing practices for energy efficiency in buildings, SME’s and in industry: final report. Publications Office of the European Union, LU.

22 Article by the Nationwide Group which indicates that heating improvements are leading to enhanced property values

23 Rightmove Greener Homes Report 2023

24 Article by Simply Business noting that Your Move data indicates that the average UK tenancy length is almost 2 years

25 Intermediaries to take 90% market share by 2024: IMLA | Financial Reporter .

26 Broker’s Handbook (greenfinanceinstitute.co.uk)

27 Toolkit for Energy Efficiency Financing Instruments for Buildings in the Arab Region (unescwa.org)

28 Scottish Government Statistics: Businesses in Scotland 2022.

29 Green Home Finance Principles (greenfinanceinstitute.co.uk)

30 Green Mortgages (greenfinanceinstitute.co.uk)

31 Will 2023 be the year of green mortgages? - FTAdviser

32 Money Facts’ figures include the number of rates available for each green mortgage product

33 imla-green-mortgages.pdf

34 Green Additional Borrowing | Nationwide

35 Article by the Bank of England on whether energy efficiency predicts mortgage performance

36 Article on how Green Mortgages are changing the mortgage market

37 Long term statistical review of the Scottish property market 2022-2023, Registers of Scotland

38 How equity release works and risks involved - MSE (moneysavingexpert.com)

39 Green Lease Toolkit | Better Buildings Partnership

40 Green Lease Essentials - Better Buildings Partnership

41 PACE financing and its impact in the USA

42 Property Linked Finance: Rising Consumer Demand for Energy Efficiency and the Need for Financial Innovation by the Green Finance Institute

43 Major UK pension funds worth nearly £900bn commit to net zero | Pensions industry | The Guardian

44 Open Data Strategy - gov.scot (www.gov.scot)

45 World Energy Investment Outlook

46 UNEP SEFI, Public Finance Mechanisms to mobilise investment in climate change mitigation, 2009

47 Property-Market-Report-2020-21-Infographic.pdf (ros.gov.uk)

48 Scottish Housing Condition Survey 2021.

49 https://www.ros.gov.uk/data-and-statistics/property-market-report-2022-23

50 https://www.gov.scot/publications/scotlands-non-domestic-energy-efficiency-baseline/documents/

51 Supporting documents - Scotland's non-domestic energy efficiency baseline: report (Scottish Government publication)

52 The economics of the Green Investment Bank: costs and benefits, rationale and value for money (publishing.service.gov.uk)

53 Taken from the EEMI ‘Current and Future developments of the market framework for accelerating growth of energy efficiency – learnings form Scotland and Trento?’ Report: Current-and-Future-developments-of-the-market-framework-for-accelerating-growth-of-energy-efficiency-–-learnings-from-Scotland-and-Trento.pdf (energyefficientmortgages.eu)

54 For more detail on EEMIP and access to reports, please see: EEMI – Funding the hope for a better … (energyefficientmortgages.eu)

55 For more detail please go to the Scottish Government Website: Local heat and energy efficiency strategies and delivery plans: guidance - gov.scot (www.gov.scot)

56 For more details on the Heat networks delivery plan: Heat networks delivery plan - gov.scot (www.gov.scot) , the Heat Networks Fund: Heat Network Fund: application guidance - gov.scot (www.gov.scot) , and the heat networks support unit: Home - Heat Network Support Unit

57 Energy efficiency in social housing - Home energy and fuel poverty - gov.scot (www.gov.scot)

58 Local Energy Scotland programme CARES - Energy Saving Trust

59 Business Energy Scotland · Make Your Business Greener

60 SME Loan Scheme · Business Energy Scotland

61 New Green Jobs Workforce Academy - gov.scot (www.gov.scot)

62 MCS Certification Fund - Energy Saving Trust

63 Towards an Industry for Green Heat: heat in buildings supply chains delivery plan - gov.scot (www.gov.scot)

64 Accelerating green heat delivery - gov.scot (www.gov.scot)

65 Domestic Energy Performance Certificates (EPC) reform: consultation - gov.scot (www.gov.scot)

66 TrustMark - The Government Endorsed Scheme For Work Around The Home

67 The Heat in Buildings Quality Assurance policy statement

68 Heat in Buildings strategy - quality assurance: policy statement - gov.scot (www.gov.scot)

69 More details about the Scottish Housing Condition survey can be found here: Scottish House Condition Survey - gov.scot (www.gov.scot)