Private Low-carbon Investment: Green Finance Institute Report

Baroness Wheatcroft Excerpts

Monday 9th December 2024 Lords Chamber

[Lord Hunt of Kings Heath (Lab)]

My Lords, this is the third time the noble Baroness has asked me this question in the last two weeks. I am afraid that we have not moved on from that position. On the warm homes plan, as she will know, we made it clear in the Budget that we will see a total investment of £3.2 billion in warmer homes across 2025-26. She is right that making progress in relation to energy-efficient homes is very important indeed.

[Baroness Wheatcroft (CB)]

My Lords, while it is important to make sure that older homes are brought up to standard, does the Minister accept that there is merit in ensuring that all developments going ahead use heat pumps for the entire development? That works in areas of Germany. Will the Minister consider doing that?

[Lord Hunt of Kings Heath (Lab)]

My Lords, the noble Baroness is right to raise new homes but part of the issue we have is that we have the oldest housing stock in Europe and a third of our housing was built before World War II. As far as her question is concerned, I can tell her that the Ministry of Housing, Communities and Local Government has indicated that it is working on future standards. These will set new homes and buildings on a path that moves away from relying on volatile fossil fuel markets and ensures that they are fit for a net-zero future. This is likely to see a mix of low-carbon technologies used for heating, including heat pumps and heat networks. Of course, the point the noble Baroness raises is an important one.