Enabling the mortgage industry to drive net zero retrofitting through a data-driven portfolio approach

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Residential property accounts for 20% of global carbon emissions and 70% of the homes in 2050 already exist today; retrofitting is therefore critical to meet the UK's legally binding target of net zero by 2050\.Mortgage lenders have 6.2m owner-occupier, private rented and shared ownership properties below a C rating in their portfolios. This represents 24% of residential properties in the UK with over £81bn of investment needed to get these to at least a C rating.Lenders, and their brokers that are expected to make up 90% of the mortgage distribution market in 2024, are in key positions to aggregate demand, engage customers, raise awareness, and connect them with appropriate financing. However, they face several challenges including gaps in analysing the risks in their portfolio, targeting and engaging their customers in the short and long term, and verifying improvements are performing as expected.This phase 2 project will build on phase 1 outputs by developing and enhancing key components of Propflo's end-to-end solution to address these challenges. This includes creation of an analysis and monitoring platform, a leading digital and in-home assessment survey, leading customer engagement tools and real-time verification. This will be tested on a sample of 100 properties with a wider target of 1,000 overall to be retrofitted to at least a C (and above where possible).