Blackpool based Tandem Bank calls on reinstatement of Energy Efficiency Taskforce

Blackpool based, Tandem Bank, has today called for the reinstatement of the Energy Efficiency Taskforce, or a similar group, to help government – current or new – develop concrete plans for the UK's journey to net zero.

The calls come following the publication of the latest monthly tracker of Tandem's Green Gap – an annual index tracking the intentions of the UK public to go green vs their actions in reality.

The February tracker, published today, shows an improving picture for the UK, with actions closing in on intentions by 0.8pts in the month. This has brought the 'Intention to Act' Tracker up to 108pts – up a sizeable 4pts since the Green Gap's annual report was published last year.

While the trend is therefore positive and the gap closing, the index still forecasts a a gap of 22.4pts by October this year – the time of the next annual report. Tandem has therefore pointed to more action being required and said that recent Government changes on policy have led to a lack of confidence in both consumers and business to make greener choices.

Commenting on the data, Alex Mollart, CEO of Tandem, said: "I’m delighted the Green Gap is closing.

"However, on its current trajectory, there will still be a significant 22.4pt gap between UK consumers’ intentions and actual actions by October this year. More needs to be done. But it’s not just for consumers – the British public’s sincere ambitions and intentions to do the right thing by the planet have been ham-strung by continued confusing rhetoric from political parties, whether blue or red in colour. And with the worrying latest forecasts* suggesting the UK will miss its decarbonisation targets by 2030, it’s critical that our elected leaders take urgent action to correct their course. We need a concrete plan from any government, one that balances ambition with feasibility and is underpinned by support.

"Government shouldn’t do that alone and should again look to utilise industry expertise. A cross industry group is required to develop and re-establishing the Energy Efficiency Taskforce or similar is the way to do it. We know from our customers that people really do care about climate change and want to do their bit, whether that’s taking out a loan for green home improvements or saving ethically. It’s incumbent on decision-makers to do whatever they can to set the right conditions to help people do the right thing.”

The index looks at up to 28 underlying drivers which include UK emissions, which have fallen 3.5% since 2021, and the use of electric vehicles, with registrations hitting an all time high in 2023 at over 314,600 – an increase of 50,000 on 2022. The index has also highlighted that the UK saw its millionth EV hit the road in January 2024.

Tandem is on a mission to be the UK's greener digital bank. Benefiting customers’ pockets and the planet, it offers greener ways to save, borrow, spend and share. From low emission motor loans, to lending for greener home improvements, to EPC discount mortgages and green savings, Tandem's products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon footprints.