27 February 2019
Brussels, 27 February 2019 – For immediate release
The Energy Efficient Mortgages (EEM) Initiative is pleased to announce that Autonomous Province of Trento through its Agency for Water Resources and Energy (APRIE) has joined the Advisory Council of the Energy Efficient Mortgages Pilot Scheme.
The Energy Efficient Mortgages Initiative has been gaining significant momentum and visibility since the publication of a high-level, principle-based definition of the Energy Efficiency Mortgage (EEM) and the National Market Hubs being held across Europe.
As of today, 42 European lending institutions are taking part in the Pilot Scheme and have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes.
Alongside the remarkable work that is being done by the lending institutions, an important role is also being played by the 30 supporting organisations throughout the EU, and the Advisory Council, currently composed of 9 national, European and International institutions, which advises and assists the deployment of the Pilot Scheme in the market.
The EEM Initiative aims at delivering a mortgage financing mechanism, according to which borrowers are incentivised to improve the energy efficiency of their properties or to acquire highly energy efficient properties, by way of favourable financial conditions linked to the mortgage. The Initiative will furthermore develop a data collection infrastructure for energy efficient mortgages.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:
“We are delighted to welcome Autonomous Province of Trento – Agency for Water Resources and Energy (APRIE) as a new member of the Advisory Council of the Energy Efficient Mortgages Initiative. The Advisory Council plays an important role in promoting and facilitating dialogue between the financing and banking communities, real estate professionals and the utilities sector on the one hand, and policymakers on the other. As such, the participation of Autonomous Province of Trento, a significant province with on the ground knowledge and experience of the local energy ecosystem, including potential barriers to and enablers of energy performance improvement, is an exciting development towards the deployment of local, multi-sectoral solutions to improve the energy efficiency of Europe’s housing stock, potentially region by region.”
Paolo Simonetti, Autonomous Province of Trento – Agency for Water Resources and Energy General Director, stated:
“It is a great pleasure for the Autonomous Province of Trento, through its Agency for Water Resources and Energy to be invited to be part of the Advisory Council of the Energy Efficient Mortgages Initiative. This is, on the one hand, the international recognition of the work done in Trentino in the last decade and, on the other hand, an encouragement and a stimulus to foster our innovative approach to energy efficiency and retrofit of existing building stock related issues. As a member of the Advisory Council the Autonomous Province of Trento will strongly support the deployment of a pilot in the Italian market.”
Additional information can be found here.
The European Covered Bond Council (ECBC) is the platform that brings together covered bond market participants including covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders.
