Skip to main content

Energy efficient Mortgages Action Plan

Objective

In the EU, buildings are responsible for 40% of total energy consumption and 36% of CO2 emissions. By improving the energy efficiency (EE) of buildings, the EU’s total energy consumption could be reduced by 5-6% and CO2 emissions by 5%. Considering that the building stock constitutes the largest single energy consumer in the EU, and that the value of the European mortgage market is equal to 53% of EU’s GDP, there is huge potential to bridge financial innovation and the EE world and to unlock the benefits of mortgage financing to support EE to the benefit of all.
The EeMAP Project intends to deliver a standardised framework based on a market benchmark to stimulate EE investment by households in the EU’s housing stock by way of a private banking financing mechanism.
Three key outputs will be: a framework for a building energy passport, recording the EE history of a property by recognising the improvements made; a framework that can integrate the “green value” of a property through EE and collected market data; the framework for an EE mortgage product. Accordingly, EE investment will become financially viable, as market transparency will be improved. The Project will create synergies in the mortgage and covered bond value chain, delivering a virtuous circle between lenders, borrowers and investors from the origination of the energy efficient mortgage to the pooling of EE collateral for the purpose of energy efficient covered bonds. EeMAP has long-term potential to drive housing markets across Europe in a sustainable manner and encourage significant energy reductions in line with the EU’s aspirations and global climate change demands. Concretely, issuing 35,000 green mortgages a year can achieve savings of 88 GWh per annum.
The EeMAP Project brings together all the necessary competencies (financial, building and EE, property valuation, energy provision and data) to develop a credible, workable and marketable pan-European energy efficient mortgage initiative.

Field of science

  • /social sciences/economics and business/business and management/commerce
  • /humanities/history and archaeology/history
  • /engineering and technology/environmental engineering/waste management/energy efficiency

Call for proposal

H2020-EE-2016-CSA
See other projects for this call

Funding Scheme

CSA - Coordination and support action

Coordinator

COVERED BOND & MORTGAGE COUNCIL
Address
Rue De La Science 14
1040 Bruxelles
Belgium
Activity type
Other
EU contribution
€ 420 000

Participants (5)

UNIVERSITA CA' FOSCARI VENEZIA
Italy
EU contribution
€ 240 000
Address
Dorsoduro 3246
30123 Venezia
Activity type
Higher or Secondary Education Establishments
ROYAL INSTITUTION OF CHARTERED SURVEYORS
United Kingdom
EU contribution
€ 240 000
Address
Great George Street 12 Parliament Square
SW1P 3AD London
Activity type
Other
UKGBC LIMITED
United Kingdom
EU contribution
€ 330 000
Address
The Building Centre 26 Store Street
WC1E 7BT London
Activity type
Other
E. ON UK PLC
United Kingdom
EU contribution
€ 135 000
Address
Westwood Way
CV4 8LG Coventry
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
JOHANN WOLFGANG GOETHE-UNIVERSITATFRANKFURT AM MAIN
Germany
EU contribution
€ 135 000
Address
Theodor W Adorno Platz 1
60323 Frankfurt Am Main
Activity type
Higher or Secondary Education Establishments