The European Union (EU) has set ambitious climate and energy saving targets. To achieve these, the scale of investments needed is estimated at more than €260 billion p.a. until 2030, three quarters of which is accounted for by energy efficiency in buildings. Against a background of very low annual rates of renovation of the building stock across Member States, the EU Green Deal highlights the need to boost renovation to meet the EU’s energy efficiency and climate objectives.
On this foundation, the Nordic Energy Efficient Mortgage (NEEM) Hub, aiming to scale up green lending in the Nordics has been commissioned by Horizon 2020. As part of the project, the European Mortgage Federation (EMF), has developed a report with the aim of providing the necessary compliance and alignment guidance to lending institutions on the regulations imposed to enhance the green agenda.
Specifically, we conclude:
Here, the Energy Efficient Mortgages Initiative (EEMI) on an EU-wide level and NEEM in the case of the Nordic countries offer a fast track to meeting the requirements of the policy and supervisory agenda from the perspective of energy efficient mortgages.
Authors
Luca Bertalot, Secretary-General at EMF-ECBC (European Mortgage Federation - European Covered Bond Council)
Jennifer Johnson, Deputy Secretary-General at EMF-ECBC
Relevant links
Energy Efficient Mortgages Initiative (EEMI)
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement N° 101032653.
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