No, says this article and this.
Which is a shame because insulating solid walls (i.e. not cavity walls) can be very expensive (£10k + for external work). So it would be far simpler and cheaper to slap on a few coats of this insulating paint (aka thermal paint) and be done with it.
However, it seems that it's too good to be true. Hell, if it were true, I'm sure many governments would be making it mandatory to use it when re-decorating exterior walls. It would cut national carbon emissions enormously. Ah well.
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