24 April 2019
Brussels, 24 April 2019 – For immediate release
Today, the Energy Efficient Mortgages (EEM) Initiative is taking another important step toward its objective of delivering a standardised European framework and data collection architecture for energy efficient mortgages.
The EEM Initiative is organising a series of high-profile EEM Initiative events in Riga, Latvia, gathering together relevant stakeholders from the financing and banking communities, property and construction sectors, as well as policymakers to discuss how to align market best practices and debate the next steps with a view to securing market development in relation to energy efficient mortgages, in line with the overall objectives of the Capital Markets Union (CMU). These events are being organised alongside the 29th ECBC Plenary Meeting, where the covered bond industry is celebrating another milestone in the form of the adoption of the Covered Bond Legislative Package (read more ).
To recall, the objective of the Initiative is to stimulate and finance investment in energy efficient buildings, energy saving renovations and anti-seismic measures and, in this way, help to secure a greener and more sustainable future for all.
Remarkable progress has been made by the Energy Efficient Mortgages Initiative since the launch of the Pilot Scheme in June 2018, including the publication of a high-level, principle-based definition of an Energy Efficiency Mortgage, which constitutes a benchmark for lending institutions and consumers in a market of more than 30 energy efficient/green mortgage products compliant with the definition.
The EEM Initiative is the concrete and tangible market response to the Action Plan on Sustainable Finance adopted by the European Commission, and currently 45 European lending institutions, joined by 32 supporting organisations throughout the EU and by 12 national, European and International institutions of the Advisory Council are working together under the EEM Initiative to achieve the ultimate goal to successfully lead the way and foster sustainable growth.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, stated:
“The journey towards developing a European energy efficient mortgage market, by linking energy efficiency to financial processes and decision-making, and delivering a financial system that supports sustainable growth, requires actions across the entire financial system in close cooperation with the built environment world. The tangible progress achieved so far by the EEM Initiative has been made possible through the kind of close collaboration we are seeing today between market players which have recognised the importance of the Initiative and have committed to road-testing its integration into existing systems and infrastructures, ensuring that the solutions are scalable and have the potential to become the mainstream products of tomorrow for a greener future for all”.
Additional information can be found here.