Ingenious Real Estate has launched an embodied carbon-based development loan in collaboration with Construction Carbon.
The product offers carbon-based rebates on debt funding costs to selected developers who adopt sustainable construction practices and achieve reduced carbon emissions.
The scheme encourages housebuilders to limit upfront (A1-A5) carbon emissions to below industry best practice levels of carbon equivalent (CO2e) per sq m, with financial incentives for those meeting this exacting requirement.
Integral to the new loan product is Ingenious Real Estate’s partnership with Construction Carbon, whose software platform enables precise monitoring, tracking and verification of carbon emissions. Developers can access real- time insights, ensuring compliance with the loan facility’s key performance indicators.
Tom Brown, managing director of Ingenious Real Estate, said: “Addressing the embodied carbon from the construction sector is a huge challenge for our industry, with much of the onus having historically been on developers taking responsibility and bearing the related costs. Ingenious recognises that a multi-agency approach is necessary to address the challenges associated with delivering cleaner new buildings.
“We’re leading the way by offering eligible borrowers and schemes carbon-based rebates on their debt funding costs. Construction Carbon is essential to this, allowing us to reliably monitor, analyse and report on our financed emissions.”
