The HACT Retrofit Credits framework aims to unlock additional funding for housing retrofit projects by verifying both carbon emission reductions and the social value generated through these initiatives. By incorporating social impact metrics, the framework ensures that retrofit activities not only contribute to environmental sustainability but also enhance the well-being of residents and communities.
The credit framework considers:
– Carbon Emission Reductions: Uses the Verified Carbon Standard (VCS) methodology to calculate and verify emission reductions resulting from retrofit activities.
– Social Value Metrics: Employs the UK Social Value Bank to assess and quantify the social impact of retrofit projects on residents and communities.
Each tonne of CO₂e reduced is eligible for up to 20 years of crediting, with credits issued annually.
The framework was developed by HACT in collaboration with Powering Net Zero (PNZ) Carbon. It is the only verified carbon credit scheme in the UK specifically originating from the decarbonisation of housing stock.
