Are you concerned about climate change? Would you spend money to reduce your carbon footprint? If you nodded in response to the first question but hesitated at the second, you’re not alone.

While almost 70% of UK adults recognise that climate change is an urgent issue, 63% aren’t prepared to spend their own money to tackle it. This perhaps isn’t too surprising given the current cost-of-living crisis. But it’s still worrying.  

Our latest report, The Green Gap, looks at the gap between intention and action. Of the 2,000 adults who took part, 67% said they’re already doing as much as they can to reduce their impact on the planet. However, 48% don’t have low-energy lighting – one of the cheapest ways to cut energy use. When it comes to higher cost measures, belts are being pulled even tighter. Just 21% are aiming to install solar panels in the next 12 months, and even fewer are considering a heat pump. Cost was given as the biggest barrier to making changes.

If the UK is to hit net zero in time to prevent global catastrophe, almost all of our 29 million homes need to be made more energy efficient . That task might seem insurmountable, but there is some good news. According to the Committee for Climate Change (CCC), most households only need to spend £1,100 or less on energy efficient upgrades for the UK to hit its targets. Clearly, most homes could achieve far greater energy efficiency by spending more, but even small steps can make enough of an impact.  And, of course, energy efficient homes are more comfortable to live in, and cheaper to run.  

While cost is one barrier to change, it’s not the only one. Many people aren’t taking action because they just don’t know where to start. For example, 24% of people said they don’t know enough about renewable energy to make the switch. It can also be difficult to find out which household changes will make the greatest impact.

However, on a positive note, 63% of people are keen to learn how to reduce their emissions. So many people want to make positive greener choices in their lives, but it’s clear there is more to be done to equip them with the knowledge and tools they need to do so.

At Tandem, we want to make information like this more accessible. It’s one of the reasons we’ve launched this new index. As far as we’re aware, it’s the only index of its kind to highlight the difference between what people want to do to tackle climate change and what they’re actually prepared to do. Our aim is to help bridge that gap through Tandem Marketplace and our greener finance products.

We’re also creating jargon-free guides about improving your home’s energy efficiency. Just sign up to our newsletter to find out more. But first up, if you’re one of the 49% of people who don’t know their home’s EPC rating, here’s how to check your EPC rating for free

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