The whole world is going green. Green of course is in reference to   the climate change bandwagon. In the United Kingdom, the so-called Green Deal best personifies this idea. The Green Deal is essentially an Act of Parliament that was published   last year by the British Parliament. This bill desires to ensure that the British Commonwealth essentially gets to reduce its carbon emissions. The date due / target date for this cutback is slatted to be the year 2050. The road map to reducing these carbon emissions is divided into four tranches.

The Greed Deal essentially works in the following manner. A household or an entity that wants to join the  scheme essentially files a notice of intent with the energy provider- in this case the Greed deal Scheme – that is administrator of the scheme. To qualify for this scheme, one essentially needs to be pre qualified. Pre qualification means that prior to being signed up you have to be qualified by the administor – this applies for both household consumers as well as commercial consumers. The gist of the entire deal is that the need to pay upfront for energy efficiency measures is offset by a subsidy that the state absorbs in the interim period. The deal is anchored upon the purchase of household appliances/ building material that reduces the carbon footprint of every household in the country. In the event that one is knocked off because of failing to qualify, the state will provide a subsidy for their energy bill- this is a form of social safety net.

The industries that are involved in this scheme are as follows:  Local authorities, energy companies, property practitioners, advisors, and financiers of the entire project. The article will look at these players individually:

ü  Financiers – These stakeholders are drawn from diverse fields of the economy: the banking sector, the world of industry and manufacturing, and even the state is an actor. They come together to raise the requisite capital- some £ 8 Billion to run the process.

ü  Energy companies – They come into the loop on account of the fact that one way the state proposes to offset the discounts to those who enlist in this scheme is by essentially attaching the  payment premiums via ones energy bill.

ü  Property practitioners- These property practitioners include estate agents, solicitors who will represent the interests of the   owners of the houses, as well as potential homebuyers. The Green Deal Scheme will affect all this individuals and it is only fair that they are brought on board as far as matters concerning information, time lines, and    other aspects of the program are concerned.

ü  Local authorities – This entity enters the fray in the sense that it is at the grassroots level and thus best placed to ensure that  this seminal policy of the state is devolved to all boroughs of the country. This briefly is what the Green deal scheme is all about. Reduce your carbon footprint, go green.

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