What is an Energy Efficient Mortgages? EEM initiative published the definition
The Energy Efficient Mortgages (EEM) Initiative is unveiling its definition of an energy efficient mortgage which is the result of extensive cross-sectoral, market consultation of the lending institutions piloting the energy efficient mortgage framework and of the EEM Advisory Council.
The announcement coincides with the United Nations Climate Change Conference – COP24 – taking place in Katowice, Poland until 14 December.
The definition is intended as a concrete response to the efforts of the European Commission to construct a capital markets union, to facilitate the clean energy transition in line with the Paris Agreements, and in this context, to build a financial system that supports sustainable growth. It will provide a market benchmark to operationalise the integration of energy efficient mortgages into the business lines of the forty-one pilot lending institutions. At the end of 2017, these lending institutions represented 55% of mortgages outstanding in the European Union, equal to 25% of EU GDP, constituting significant critical mass in the market.
The EEM Initiative is a market-led initiative, funded via the European Commission’s Horizon 2020 Programme, which aims to deliver a standardised European framework and data collection architecture for energy efficient mortgages, with favourable financing conditions for energy efficient buildings, energy saving renovations and anti-seismic measures.
The EEM Pilot Scheme was launched in June 2018, further to the engagement of market actors in a consultation process by way of national and European roundtable events. The pilot scheme lending institutions are supported by the EEM Advisory Council, which includes representatives from the European Commission, the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, The World Bank, UNEP Finance Initiative, the Scottish Government and Climate Bond Initiative.
To consult the definition, visit the EEM website
News published on Build Up News
Consult the source
Other news in "Information"
Second opus of our trend analysis of the 2019 Green Solutions Awards. A short tour in warm climates, where building resilience and adaptation are essential. 2.1. The resilient building: a reality The construction resilient buildings (...)
With almost 200 case studies from 36 different countries, the 2019 Green Solutions Awards provided a fine example of what is being done today to build more sustainable cities and territories. First opus of our trend analysis. 1.1. (...)
Decarbonizing the heat sector is imperative to meeting carbon emissions reduction objectives across Europe. However, progress so far has been sluggish in most European countries. Sweden is an exception with 80% of its heat coming from (...)