The UK’s homes are not fit for the 21st century. They currently cause over a quarter of all carbon emissions. Urgent and long term investment is needed to improve the energy performance of existing homes to help protect against future energy price shocks, cold-related deaths in winter, and climate change risks such as future over-heating in summer.

If action is not taken now we will fall drastically short of the UK’s target to reduce carbon emissions by 60% by 2050. Carbon emissions from UK homes are not falling, but rising - up 5% in the last 10 years, making the UK’s housing among the worst performing in Europe. Meanwhile energy prices have risen 50% in two years, forcing four million households into fuel poverty. Policies are piecemeal, supply chains fragmented, industry lacks skills, and consumers lack access to the services they need.

While the new build housing sector has enjoyed a raft of targets and initiatives in recent years, existing housing lacks an equivalent level of policy and industry ambition. It is time to recognise the scale of the challenge presented by our existing homes. Over 85% of the homes standing today will still be lived in by 2050. A coherent strategy to cut carbon emissions by 60% in existing homes by 2050 can save 15 times more carbon that the Government’s policy of zero carbon new homes.

We need to be refurbishing around 450,000 homes every year between now and 2050 if the 60% target is to be met. Government and industry action should focus on developing a ‘whole-house’ approach which encourages packages of resource efficient improvements rather than individual measures, using existing proven technology.

The UK needs to invest up to £15 billion every year to tackle and improve the energy standards in our homes. This can be unlocked from existing sectors if the incentives are right. Currently £23 billion is spent annually on home renovation, maintenance and repair but only a fraction of this is directed to improving the energy efficiency of our homes.

We need to act together to make sustainable, low carbon homes a reality across the whole of the UK’s housing stock.