Climate Neutral Mortgage from UK

A British mortgage lender, Norwich and Peterborough Building Society (N&P), has teamed up with the environmental group Future Forests to make its green mortgage “climate neutral.” Homes must have a Standard Assessment Procedure rating of 80 or greater to qualify (80 out of 100 in an energy rating program similar to our HERS). N&P, through Future Forests, plants 8 trees per year for 5 years to offset the estimated carbon dioxide production associated with the home’s operation (at the end of five years, homeowners are given the option of continuing the relationship with Future Forests and their plantings and forest maintenance). The estimates on carbon dioxide production are based in large part on work done by the Edinburgh Centre for Carbon Management. Future Forests was established in 1989 and works with companies including Mazda, Avis, and Fiat. Trees are planted in new and established forests all over Great Britain, and plans have been developed to support plantings in selected areas of Guatemalan rainforest.