Natwest CEO to chair energy efficiency taskforce

Alison Rose, the chief executive of Natwest, has been announced as the co-chair of the government’s Energy Efficiency Taskforce.

The group, which will be jointly led by energy minister Lord Callanan, has been tasked with helping to reduce national energy consumption by 15% over the next seven years through insulation measures, boiler upgrades and other energy efficiency initiatives.

The appointment of a financial sector expert will please industry figures that have bemoaned the lack of credible incentives for homeowners to invest in energy efficiency. Companies such as Eon have long backed green mortgages as a way to stimulate demand.

Announcing Rose’s appointment, energy security & net zero secretary Grant Shapps said: “I am determined to reduce people’s energy bills, bringing wholesale energy prices down to their lowest ever within the next decade, through investment in cheaper and more innovative energy sources such as renewables and nuclear.

“But improving the energy efficiency of our homes by bringing the latest technologies into them will also help cut energy use, and with that people’s bills.

“The Energy Efficiency Taskforce – to be led by the excellent Lord Callanan and Alison Rose – will be committed to clearing the barriers to getting this done, whether that’s investment, training up installers or improving the supply of products.”

Rose said: “Addressing the climate crisis is a team sport, and building vital partnerships between the public and private sector is the key to tackling this challenge at pace.

“Improving energy efficiency will not only drive a lower carbon environment, but also deliver greater economic security through lower bills for people, families, and businesses right across the UK.”

The government said that other members of the taskforce’s steering group will be announced “in due course”.