Brussels, 5 August 2019 – For immediate release
The Energy Efficient Mortgages (EEM) Initiative is pleased to announce that Official Monetary and Financial Institutions Forum (OMFIF) has joined the Advisory Council of the Energy Efficient Mortgages Pilot Scheme.
The Advisory Council plays a key role in providing institutional support to the EEM Initiative, as a platform for the exchange of best practices and dialogue between policymakers and stakeholders from the financing and banking communities, property and construction sectors at local, European and global levels, with the ultimate goal of achieving market development in relation to energy efficient mortgages.
As of today, 47 European lending institutions, joined by 32 supporting organisations throughout the EU, have signed up to the Pilot Scheme and have committed to testing 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, for example. The Initiative will furthermore design a data collection infrastructure for energy efficient mortgages.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:
‘It is with great pleasure that we welcome OMFIF as a new member of the Advisory Council of the Energy Efficient Mortgages Initiative. As a forum for central banks around the globe, OMFIF’s participation marks another important step forward for the Initiative in bringing public and private energy efficient mortgage market stakeholders closer together, both in Europe and on a global level. We are confident that with their research capabilities that will provide additional insight into future prudential considerations linked to energy efficient mortgages, as well as their extensive experience and network, OMFIF will be a great asset to the Advisory Council and we look forward to working with them.’
David Marsh, Chairman, Official Monetary and Financial Institutions Forum (OMFIF), said:
‘We are pleased to join the Advisory Council of the Energy Efficient Mortgages Pilot Scheme. OMFIF highlighted in the Global Public Investor 2019, our flagship publication, that households will have to bear at least some of the costs of the transition, such as retrofitting homes to reduce energy consumption. By joining the Advisory Council, we want to share our knowledge and research on green finance and promote the sustainability trend through the finance community worldwide.’
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.
