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EEMI encourage the energy efficient renovation of the local building stock

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.
As of today, 47 European lending institutions, joined by 33 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. These pilot scheme lending institutions are furthermore supported by an Advisory Council bringing together 17 regional, national, European and international authorities, of which the Province of Trento is one.
Today’s event is the prelude to plans to establish a market demonstrator in Trento later next year, in which relevant stakeholders, including banks, building energy performance experts, property valuers and the Province itself, will come together to test the energy efficient mortgage life-cycle and demonstrate the end-to-end customer journey. 

 

Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:

“Today’s event confirms that the European efforts in relation to improving energy efficiency should start in local communities and add real value for their citizens, stakeholders and authorities. Against this background I’m delighted to be in Trento today on behalf of the EEMI to support the efforts of the Province to encourage the energy efficient renovation of the local building stock.Through its extensive network and the learning and expertise gained so far, the EEMI together with the Province of Trento can develop a local test environment to implement Energy Efficient mortgages as soon as possible and in this way meet local expectations.”

 

Mario Tonina, Vice President & Councilor for the Environment & Urban Planning, Autonomous Province of Trento, said:

“Actions undertaken locallyin close cooperation with other actors in the energy renovation value chain, are repaying the efforts of the provincial administration. With about 4 million Euro of investments in the form of public support, to date 24 million Euro worth of renovation has been undertaken and 16 million Euro in loans have been granted. This public support is guaranteed throughout 2020 and is expected to be confirmed in the years to come. At the same time, Trentino - through the provincial agency for water resources and energy (Aprie) - is working on a new provincial environmental energy plan 2021-2030. The goal is to reduce consumption and improve the energy efficiency of the public sector, as well as its innovation. The focus is on technological and technical challenges on the one hand, and economic-financial levers on the other. This is the beginning of a process that will see the Province play an important role in the national and international landscape."

 

Notes to the Editor:
The Energy Efficient Mortgages Action Plan (EeMAP) Initiative – led by the European Mortgage Federation-European Covered Bond Council (EMF-ECBC),Ca’ Foscari University of VeniceRICS, the Europe Regional Network of the World Green Building CouncilE.ON and SAFE Goethe University Frankfurt–  aims to create an energy efficient mortgage through which homebuyers are incentivised to improve the energy efficiency of their building or acquire an already energy efficient property by way of favourable conditions liked to the mortgage. The cornerstone of the initiative is the assumption that energy efficiency has a risk mitigation effect for banks as a result of the impact on a borrower’s ability to service his/her loan and on the value of the property, a correlation which the EeMAP Initiative will seek to substantiate.

The Energy Efficiency Data Protocol and Portal (EeDaPP) Initiative – led by European Mortgage Federation-European Covered Bond Council (EMF-ECBC),Ca’ Foscari University of VeniceCRIFEuropean DataWarehouseHypoportSAFE Goethe University Frankfurt and TXS  - aims to design and deliver a market-led protocol, which will enable the large-scale recording of data relating to energy efficient mortgage assets, via a standardised reporting template. The data will be accessed by way of a common, centralised portal, allowing for continuous tracking of the performance of the energy efficient mortgage assets, thereby also facilitating the earmarking of such assets for the purposes of energy efficient bond issuance.

 

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