Major housebuilder and investor Legal & General will make all its new housing stock operational net zero carbon by 2030, it has announced.
The move – which it said was necessary to avoid ‘stoking up’ the climate crisis – will be implemented in phases across all homes L&G Group builds or invests in, including Build to Rent, later living and affordable housing, as well as market housing.
L&G’s growing housing platform includes Edinburgh-based housebuilder CALA Group, a 3,500-unit pipeline of affordable homes, a major later living business, a 5,000-home Build to Rent portfolio and a significant modular housing operation, which it hopes will deliver 3,000 homes a year by 2024.
The group’s chief executive, Nigel Wilson, said: ‘We have to Build Back Better after Covid-19. Construction is rocket fuel for UK economic growth: every pound invested delivers a threefold economic multiplier and the housebuilding sector provides jobs and vital economic resilience.
‘But, as we accelerate building, we have to avoid stoking up a climate crisis that would be at least as serious as the Covid emergency.’