Report recommends government guaranteed finance for refurbishments aimed at improving company buildings' rating to C
The government should make capital funding available for companies that commit to improving the EPC rating of their buildings to a 'C', according to a report commissioned by Kingspan Insulated Panel.
The recommendation is one of several put forward in the report, based on a study carried out by sustainability consultant Caleb Management Services. It concludes that over 4.7 million tonnes of CO2 could be saved each year and more than 30,000 jobs created through cost-effective insulation measures of existing non-domestic buildings.
It proposes that a large-scale refurbishment programme should be launched, with up-front, third-party capital funding guaranteed by the government made available and paid back from the savings made.
Paul Ashford, managing director of Caleb Management Services, said that the commercial sector is a strong area to focus on but seems to have fallen off the map. “Refurbishment of such buildings could reduce greenhouse gas emissions by 20 million to 25 million tonnes per year whilst also benefiting energy security and retaining or creating 30,000-50,000 jobs.”
The report states that the total cost of thermally refurbishing the non-domestic building stock to a DEC/EPC rating of 'C' by 2022 would be £14.7bn and result in savings of £5.6bn a year.