27 November 2018
Brussels, 27 November 2018 – For immediate release
As of today, 40 European banks are taking part in the Pilot Scheme, launched last June, and have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes. These banks are joined in the Pilot Scheme by 25 other supporting organisations throughout the EU.
The Pilot Scheme is composed of 7 subgroups combining market and institutional expertise to help refine the framework. The initial results of the analysis conducted since the launch of the Pilot in June were presented during the Pilot Scheme Meeting took place in Venice on 27 September 2018 in the presence of members of the Advisory Council.
The ultimate goal of the EEM Initiative is to deliver a mortgage financing mechanism, according to which borrowers are incentivised to improve the energy efficiency of their properties or 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:
“It is with a great pleasure that we welcome Colibri Hypotheken to the Energy Efficient Mortgage Pilot Scheme. In order to achieve more sustainable growth and reach the European Union’s Capital Markets Union project along with the Paris Agreement goals to fight climate change, everyone must play a role. Since its launch in June, the number of banks participating in the Pilot Scheme has constantly increased, demonstrating the relevance of the Initiative and the willingness of the market to work together to build a greener and more sustainable planet for the future generations.”
Joost van Sligtenhorst, Colibri, stated:
“Today, two of the biggest challenges concerning the green transformation of residential properties, are financing energy saving measures and accessibility for inexpert home owners. At Colibri, we have great aspirations in bridging this chasm in two ways. First, we deal with the financing issues by making investments profitable, launching a green mortgage with extra loan capacity and financial benefits to our borrowers. Second, we address accessibility by teaming up with a Dutch initiative, guiding and advising home owners towards the actual implementation of energy saving measures.
Still, we believe that the green transformation can only be achieved when people, businesses and governments cooperate together. Therefore, we joined the EEM Initiative, pursuing a commonly adopted framework and a standardized, effective way to provide for affordable and accessible mortgage solutions. Together, we can actually get the energy transition broadly supported and pave the way to sustainable and energy efficient homes.”
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator
Tel: +32 2 285 40 35
Additional information can be found here.