Financial Incentives Are Needed for Reducing Carbon Footprint

The Federation of Master Builders (FMB) has found that more homeowners would take measures to reduce their home’s carbon footprint if they were given financial incentives for doing so.

The findings have shown that most homeowners are not currently planning to make necessary upgrades unless they are given financial rewards. As a result, the FMB has called for more focus on the environmental issues of our homes.

The director of the FMB, Richard Diment, speaking at the Westminster Energy, Environment & Transport Forum, stated that government plants to help save heat and energy by 2030 will not work unless homeowners have a real incentive for doing so.

Diment said that there needs to be more encouragement towards low carbon utilities, insulation and double glazing. Special programs would help to spur interest in going green. As it stands, homeowners’ priorities lie with job security and simply getting by financially.

The founder of whatgreenhome.com, Gordon Miller, also stated that money is a huge factor in whether people will look at how carbon friendly their home is. He claims that one successful way in getting people to act will be to show them the savings they’ll make on energy bills.

Diment gave some concrete examples of the way in which the government could ensure changes are made to homes. These include cutting VAT rates and giving council tax rebates to greener homes.

These changes will help the government meet targets, including a 15% cut in annual emissions by 2020. Diment also claims the strategy can help to secure a large number of jobs in the construction industry.