As society’s values shift to include sustainability, so too will the way decisions are being made throughout the mortgage market.

In 2020, data from the Department for Business, Energy and Industrial Strategy outlined the residential sector accounted for 20.8% of all carbon dioxide emissions.

The Covid-19 pandemic and the restrictions brought in across the UK had a major impact on various aspects of society and the economy.

This resulted in a significant impact on greenhouse gas emissions, which saw carbon dioxide (CO2) emissions in the UK fall provisionally – according to estimates – by 10.7% in 2020 from 2019.

This large fall in 2020 was primarily due to the large reduction in the use of road transport during the nationwide lockdowns and the reduction in business activity.

CO2 emissions from transport fell 19.6% in 2020, accounting for over half of the overall fall from 2019, and in the business sector they fell by 8.7%.

Conversely, CO2 emissions from the residential sector increased by 1.8% as more people stayed at home.

Many companies in the UK will find themselves continuing to work remotely over the coming months as some restrictions may continue to remain.

These businesses will want to retain some positive behavioural changes which manifested during lockdowns in a post-Covid world such as remote working and maintaining reduced travel. Although there clearly is a need for energy-efficiency in homes to be improved.

EPC matters and lender requirements

It has become ever more important for the industry to assess energy efficiency and for clients to receive expert advice on how to combat climate change. However, climate change isn’t simple and many aspects need to be considered.

As the regulatory landscape shifts, lenders have become increasingly concerned with mortgage origination and their back book in relation to EPC ratings. How this is reflected in the context of valuations will need to be a key focal point for the sector.

To deal with some of these challenges, technological innovation, data, clear evidence-based measures aligned with expert advice will prove invaluable as we strive to meet regulatory requirements and achieve regional targets.

Clear expert guidance

Concerns over climate change and legislative, regulatory and commercial changes in the context of sustainability have clearly created a demand for clear, expert guidance on energy matters.

As one of the leading surveying companies in the UK, we play a critical role in supporting home buyers make greener choices to reduce emissions from UK homes.

We provide guidance and information around the impact of the significant climate change challenge with an aim of reducing emissions. For example, we recently launched EnergyFact, a report designed to support homeowners to assess and identify potential improvements in enhancing energy efficiency.

To support our people in improving energy efficiency in their homes, we provide CSS employees free Energy Fact reports to enable them to track their own carbon footprint.

As the market shifts, surveyors will need to equip their clients with the advice they need to enable them to make well-informed decisions when it comes to improving energy efficiency throughout their homes.

This shift has also been reflected in the recent RICS Home Survey Standard which has incorporated the need for surveyors to provide advice to customers on energy matters.

It introduced a mandatory requirement for surveyors to identify and advice on defects and deficiencies by inappropriate energy efficiency measures implemented at the property.

Countrywide’s sustainability strategy

We all have a responsibility to limit the harm we cause to the planet. To support and contribute positively to our communities, be transparent in the way we deliver our services and report our performance in an honest and evidence based way.

Countrywide is all about providing the skills, expertise and innovation to ensure our clients meet present and future challenges, all in a responsible and sustainable way.

As we strive to deliver the highest of services, we’re also serious about reducing our negative impact and will continue to develop a comprehensive sustainability strategy to build on our commitments and deliver services in a sustainable and responsible way to our customers, while engaging with all our stakeholders in this journey. And we want to include you on this journey.

Ana Bajri, is senior technical manager, risk and compliance at Countrywide Surveying Services