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Energy efficient Mortgage Market Implementation Plan

Project information

Grant agreement ID: 894117

Status

Grant agreement signed

  • Start date

    1 September 2020

  • End date

    31 August 2022

Funded under:

H2020-EU.3.3.7.

H2020-EU.3.3.1.

  • Overall budget:

    € 1 767 177,50

  • EU contribution

    € 1 500 000

Coordinated by:

COVERED BOND & MORTGAGE COUNCIL

Belgium

Objective

The European Union (EU) has set itself ambitious climate change targets. The scale of investment needed to meet the energy savings targets alone is estimated at €180 billion p.a., three quarters of which is accounted for by energy efficiency in buildings. In light of the link between buildings and mortgages, the EU-funded Energy Efficient Mortgages Initiative (EEMI)[1] sought to bridge some of this gap by way of the energy efficient mortgage (EEM) product and framework. However, experience gained indicates the development of the EEM market goes far beyond designing the product and requires the integration of a complex web of stakeholders.

The Energy Efficient Mortgage Market Implementation Plan (EeMMIP) will build on efforts to develop EEM by delivering an integrated market and a blueprint for established and emerging markets around the globe. The Project will conduct an analysis of the current market systems relevant to the development of an EEM market and establish demonstrators to support the demonstration of the end-to-end customer journey and EEM life-cycle. It will establish market-based governance and an EEM Label to support recognition of and confidence in EEM and facilitate access to quality information for market participants. It will deliver guidance for the inclusion of energy efficiency in credit risk assessments for lending institutions and supervisors and policy recommendations for the prudential framework in line with the principle of risk sensitivity and promote a well-functioning banking market. Finally, it will support global take-up of EEM through the Label and institutional cooperation. EeMMIP responds to the objectives of the EU in the areas of sustainable finance and climate change, all against the background of Capital Markets Union, and aims to influence the entire value chain, from consumer to bond investor, stimulating mentality change and securing energy efficiency in market attitudes and best practices both in Europe and globally.

Coordinator

COVERED BOND & MORTGAGE COUNCIL

Address

Rue De La Science 14
1040 Bruxelles

Belgium

Activity type

Other

EU Contribution

€ 436 000

Participants (6)

E.ON SOLUTIONS GMBH

Germany

EU Contribution

€ 199 000

UNIVERSITA CA' FOSCARI VENEZIA

Italy

EU Contribution

€ 199 000

CRIF SPA

Italy

EU Contribution

€ 209 000

COPENHAGEN ECONOMICS AS

Denmark

EU Contribution

€ 199 000

SCOTTISH GOVERNMENT

United Kingdom

EU Contribution

€ 159 000

PROVINCIA AUTONOMA DI TRENTO

Italy

EU Contribution

€ 99 000

Project information

Grant agreement ID: 894117

Status

Grant agreement signed

  • Start date

    1 September 2020

  • End date

    31 August 2022

Funded under:

H2020-EU.3.3.7.

H2020-EU.3.3.1.

  • Overall budget:

    € 1 767 177,50

  • EU contribution

    € 1 500 000

Coordinated by:

COVERED BOND & MORTGAGE COUNCIL

Belgium