'The chancellor missed the opportunity today to introduce tax incentives for reducing embodied carbon in retrofit and refurbishment projects'

Jonathan Hale, head of ESG consulting at Knight Frank: 

“It is disappointing that today’s Budget lacked more meaningful measures to support business addressing the urgent needs of the planet. Real estate companies are leading the charge in addressing the sector’s contribution to climate change, but need the government to mitigate the associated risks and create more opportunities for positive impact. The chancellor missed the opportunity today, for example, to introduce tax incentives for reducing embodied carbon in retrofit and refurbishment projects.”