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Carbon Offset Mortgage Service

Introduction

Our unique Carbon Offset Mortgage service allows individuals to receive the very best independent advice on the most suitable mortgage for their needs, and at the same time ensure the carbon footprint of their house is offset at no cost.  Because we have always taken the lead in ethical and environmentally conscious financial management, we will bear the cost of carbon offsetting your home for the first two years of any mortgage arranged by our Ethical Mortgage Department.  After the first two years, you will be able to take over the small offsetting cost or, if it is appropriate for you to remortgage, we will continue to pay to offset your carbon for a further two years.

Background

Climate Change is fast becoming a permanent feature of our daily lives, and an issue the media is increasingly covering in more detail.  Greater coverage of the issue will, we hope, bring climate change to everyone’s attention, hopefully engendering a desire to act. 

Collectively, many millions of small acts to tackle climate change will make a difference.  Whilst major changes to the way we live may be the responsibility of our political leaders, each of us as individuals can take responsibility for the small things in our lives that we do have control over.  We can use energy efficient lighting, save rather than waste energy and water, drive less, fly less, take public transport more, consume less, reduce packaging and so on.  However, whilst all of these measures are within our control, and for the majority of people involve little or no additional cost (saving energy saves money!), there is a significant contributor to climate change that is a little more difficult to deal with. 

According to recent statistics, the carbon emissions from the UK housing stock represents 27% of our total carbon emissions! Whilst it is possible to make significant improvements to the energy efficiency of our homes, this requires considerable capital expenditure and such funds may not always be available.  Installing wind and solar to a property is great if one intends to stay in the house long term, but it is still too expensive for most people to be a practical consideration.

Rather than simply accept that we have a relatively energy inefficient housing stock in this country, we have developed a service for clients wishing to take practical and affordable action with regard to the carbon emissions of their largest asset – their home.    

How does it work?

When you instruct Ethical Investors to arrange a new mortgage or a remortgage, you will receive the best advice on the most suitable mortgage for your needs.  If required, we can also look at the ethical aspects of the mortgage for you, using our own ethical assessment of the lenders.  Once the mortgage has been agreed, we will use the details of your property to calculate the average carbon emissions for that type of property.  Once we have the annual estimate of carbon emissions, WE will pay to offset these emissions for the first two years of the mortgage

It’s that simple – we pay to offset the carbon, not YOU.  No additional costs, independent mortgage advice and a reduced carbon footprint.  How good is that?

How do we offset?

After extensive research into the minefield of carbon offset schemes, we have singled out an organisation that we believe offers the most direct and most accountable carbon offset service.  The service is from Noveris Ltd (Noveris is ancient Greek for clean air).

What we like about the Noveris service is that it ties in direct measurement of carbon emissions with direct offsetting schemes, using detailed and measurable calculations.  In addition the offsetting is done via projects that we at Ethical Investors are already familiar with.  One problem with many other carbon offsetting schemes is that they only pledge to do ‘something’ to offset your carbon, without actually providing detailed information on what will actually happen. As you will see, the Noveris service offers a very direct way of ensuring that the carbon offsetting is actually happening.

Once we have calculated the average carbon emissions of your home and have paid the appropriate offsetting cost to Noveris, they are responsible for turning our payment into real offsetting.  They do this by linking up with an excellent social, ethical and environmental scheme in Brasil, involving the sustainable planting and management of teak.  Ethical Investors knows the Brasilian company that manages the Teak plantation, Floresteca, and many of our clients have already invested money in the sustainable and ethical management of this valuable resource.

Here are some important facts relating to the Ethical Investors, offsetting scheme: -

 

So, not only will you be offsetting your carbon emissions on your property in the UK, but you will be supporting the growing of sustainably managed teak, creating employment in a deprived area and ensuring that schools and hospitals in a poor area receive much needed funding.  What’s more, it hasn’t cost you anything!

What’s the catch?

Put simply, there isn’t one.  Logically though, we would expect you to take some responsibility to reduce your own home’s carbon emissions, by being more energy efficient.  We may be able to offset your emissions, but it is better for everyone if carbon emissions are reduced as far as possible. 

What next?

The next step is to contact our Ethical Mortgage Consultant, Kevin Brogan, who is based in our Head Office in Cheltenham.  Kevin will be able to guide you through the mortgage process and find the best mortgage for your needs – once that is complete, we can begin to carbon offset.


Further information: -

www.carbonfreemortgage.co.uk
Noveris – www.noveris.co.uk Floresteca - www.floresteca.com.br FSC – www.fsc.org/en

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