The organisation said knock-on effects felt by improving Britain's buildings' energy usage would generate £8.7 billion in net benefits.
However, it added the PM's decision to scrap the Department of Energy and Climate Change (DECC) is "alarming" as it signals improving the energy efficiency of existing buildings "has been pushed ever-further down the list of Government priorities".
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Brian Berry, Chief Executive of the FMB, said: "Three years ago Cameron told his officials to “cut the green crap” and May has taken this further still by dissolving DECC. This means that there will be no Cabinet-level Minister championing climate change issues at the highest level of Government, which is bound to result in less emphasis and less action. Andrea Leadsom's appointment as Secretary of State for Environment, Food and Rural Affairs provides little solace when you consider that she has regularly voted against measures to tackle climate change in the past. This matters because for May's newly-formed Government to side-line its green policies, would be to sacrifice their numerous economic benefits.
"May should make improving our existing buildings an infrastructure investment priority as the knock-on benefits for jobs and growth are enormous."
(LM/CD)
