Government funding driving action – Tandem Bank’s Green Gap report shows surge in Boiler Upgrade Scheme applications, up 173%

Monthly tracker of Tandem Bank’s, the UK’s greener digital bank, Green Gap report shows:

• Government funding driving action, with a surge in Boiler Upgrade Scheme applications, with a month-on-month rise of 173% in October 2023
• There remains a Green Gap between intention and action – near 33 point gap between UK consumer intention and action, which is expected to increase consumers look to Christmas
• Six in 10 home and small businesses across Britain now have smart or advanced meters

James Streeter, Head of ESG, Tandem Bank, said:

“It’s good news that consumers have taken more action since we published our annual Green Gap report last month.

“But the significant increase in those switching their boilers to more carbon friendly alternatives is a direct result of the increase in the government’s scheme coming into effect.

“That is as strong a signal as any that government action and messaging is crucial in compelling consumer action. Tandem is on a mission to drive greener choices, and we’ll continue to offer insight, tools and expertise to help customers, but we need real-life impactful plans and support from government if we’re to reach any form of net zero and a transition away from fossil fuels.”

UK’s greener digital bank publishes first monthly tracker of annual Green Gap report – available here