Brussels, 27 May 2019 – For immediate release
The Energy Efficient Mortgages (EEM) Initiative is pleased to announce that Japan Housing Finance Agency has joined the Advisory Council of the Energy Efficient Mortgages Pilot Scheme.
The Advisory Council plays a key role in promoting and facilitating dialogue between policymakers, stakeholders from the financing and banking communities, property and construction sectors, with the ultimate goal of achieving market development in relation to energy efficient mortgages. The addition of the Japan Housing Finance Agency to the Advisory Council brings the Initiative one step closer to achieving its objectives also on a global level.
As of today, 45 European lending institutions, joined by 32 supporting organisations throughout the EU, 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.
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.
In this context, two important workshops have been planned on 27 May 2019 in Bologna, Italy and on 26-27 September 2019 in Venice, Italy, focusing on a common data transparency template and practical implementation at a national level, with the support of local, European and international authorities. These workshops follow a series of EEM Initiative events in Riga, organised back to back with the 29th ECBC Plenary Meeting on 24 April 2019.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:
“We are delighted to see that the Energy Efficient Mortgage Initiative is achieving such international visibility and recognition. The participation of Japan Housing Finance Agency in the Advisory Council marks another important milestone for the initiative as it paves the way to the development of an energy efficient mortgages framework and sustainable growth on a global scale. 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 and we are confident that with their extensive knowledge, also in relation to earthquake proof structures, Japan Housing Finance Agency will be a great asset to the Council.”
Shoichiro Konishi, Director, International Affairs and Research Department, Japan Housing Finance Agency, stated:
“It’s our great honour and pleasure to join the Advisory Council of the Energy Efficient Mortgages Pilot Scheme. Japan Housing Finance Agency, as a government implementing institution, has been promoting high quality houses by purchasing energy efficient mortgages, earthquake-resilient mortgages and others from private financial institutions. In January 2019, we issued our first Green Bond, which also became the first Green Bond issued in Japan purposed to finance energy efficient mortgages. Japan started to establish energy efficient society triggered by the oil crisis in 1970s and since then, we have been accumulating experiences to promote energy efficient houses in association with the Japanese government. By joining the Advisory Council, we are delighted to share each other’s experience and knowledge and dedicate to build greener society by working closely with the prominent member institutions of the Energy Efficient Mortgage Initiative.”
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.
