THG is the first affordable housing association to secure funding through our new Green Housing Retrofit Loan pilot scheme. The pioneering deal marked the first successful completion of a use of proceeds loan in the UK affordable housing sector by any UK bank.
The loan, which aligns with LMA Green Loan Principles, enables THG to support the installation of ground and air source heat pumps, as well as to deliver both deep and light retrofit improvements such as the replacement of cladding, roofs and windows to improve thermal and energy efficiency across its network of socially rented properties spanning 30 local authorities.
Working in partnership with NatWest Group’s ESG Advisory team to confirm the efficiency ratings of the planned upgrades, the investment will allow customers to benefit from a significant reduction in energy bills while lowering THG’s emissions across their property portfolio.
Mark Dunford, Executive Director of Finance and Commercial at Together Housing Group, added: "We’re proud of the progressive steps we’ve taken so far towards achieving our ambitious net-zero priorities and we are thrilled to be the first social housing association to receive this valuable funding."
"Our carbon reduction strategy puts residents at the forefront as we strive to make essential retrofit adaptations to properties, ensuring they remain energy efficient for the benefit of current and future residents."