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Article: Demand for green mortgages will grow as it has for organic produce.
- Article from:
- Mortgage Strategy
- Article date:
- June 2, 2008
CopyrightCOPYRIGHT 2008 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stewart Hunter is head of introduced mortgages at Norwich and Peterborough
About 10 years ago, Norwich and Peterborough was the first big lender to offer green mortgages for mainstream residential purchases and remortgages and we now plant eight trees per year for the first five years of every N&P green mortgage.
Some 30% of all the carbon emissions produced in the UK come from the energy we use to heat, light and power our homes. The average home produces five tonnes of carbon dioxide per year and trees absorb carbon dioxide - on average one tree grown to maturity soaks up a tonne of carbon dioxide.
So the 40 trees we plant per home offset ...