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Green Gap Monthly Tracker: April 2024

Intent Vs Action: Fight against climate change

Green tracker shows pace of UK’s action to fight climate change is slowing

 

·       Disappointing widening of the Green Gap as Brits’ intentions to go green continue to fall short of the level of change needed

·       While there is a small increase in action being taken, the pace of change is slowing as British consumers de-prioritise the climate crisis

·       Green Bank calls for Government to prioritise the climate crisis following resignation of Chris Stark, Chief Executive, Climate Change Committee

 

A green tracker published today has revealed that UK consumers are de-prioritising the fight against climate change, with the pace of action slowing as consumers focus on more immediate issues.

Tandem, the UK’s greener digital bank, has published its latest edition of its Green Gap monthly tracker, revealing the gap between Brits’ intentions and action in the fight against climate change across April.

While the tracker shows an increase of 0.6pts in actions being taken by consumers, the pace of this has dropped significantly from following months, leading to a 1.4pts deterioration in the Green Gap forecasted.

The slowing of pace has meant the Gap has increased for a third month in a row – leading to calls from the Green Bank for the Government to prioritise the climate crisis urgently. The call follows changing rhetoric and back-pedalling on commitments to reduce carbon emissions by Government, which faced criticism from Chris Stark, the Chief Executive of the Climate Change Committee, who resigned in April.

Commenting on the tracker, Alex Mollart, CEO of Tandem Bank, said: “For the third month in a row, the forecasted gap between intentions and action at our next annual survey has deteriorated.

“The good news is that consumers are continuing to take action – but the pace of that action is slowing. That’s hardly surprising given immediate pressures on household budgets or changing tack by Governments.

“The resignation of the head of the Climate Change Committee, Chris Stark, and his open criticism of the Government’s de-prioritisation of climate change is testament to the changing of the goalposts we’ve seen in recent months. The UK needs clarity and confidence now, to ensure we remain committed to our pathway to greener lifestyles.”

The tracker points to underlying drivers of the index, including a rise in renewable’s share of electricity now being highest on record and recent increases in solar panel installations and applications for the Government’s boiler upgrade scheme – but all remain comparatively low when faced with the scale of the challenge the UK faces.

As the UK’s greener digital bank, Tandem is on a mission to highlight the scale of the challenge for UK consumers when it comes to fighting climate change, and to offer support and expertise to help them on their journey to a greener lifestyle.

Benefiting customers’ pockets and the planet, Tandem 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, its products make it easier for more people to choose a greener lifestyle – helping them save money, whilst reducing their carbon footprint.

 

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