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EEMI DeliverEEM: Launch of a Groundbreaking Energy Efficient Mortgages Ecosystem to Accelerate Private Investment in Energy Efficiency

1 October 2024

Brussels, 1st October 2024 – For immediate release

The European Mortgage Federation-European Covered Bond Council (EMF-ECBC) and its Consortium Partners, Ca’ Foscari – University of Venice, CRIF, Modefinance, Operate, Harley&Dikkinson Consulting & Leibniz Institute for Financial Research SAFE, are delighted to formally announce the launch of Delivering the Energy Efficient Mortgages Ecosystem (DeliverEEM). This ambitious project builds on the foundations laid by the EU-funded Energy Efficient Mortgages Initiative (EEMI) and aims to respond to the European Commission’s call to increase private sector engagement in financing energy efficiency, thereby accelerating Europe’s transition towards a more sustainable future.

The official kick-off event, which will be held during the 3rd EEMI International Sustainable Housing Finance Symposium on 4th October 2024, will feature participation from high-level authorities and Institutions such as the European Commission, the OECD, Banca d’Italia, and the Spanish Ministry of Ecological Transition, who will be present to speak and contribute to discussions on the pivotal role of sustainable finance in the energy transition.

DeliverEEM will scale up and extend the development of Energy Efficient Mortgages (EEM) by creating a fully integrated market ecosystem that ensures an efficient, end-to-end customer journey and optimised market interventions. The project seeks to provide a blueprint for both established and emerging markets, with the potential for global replication, through deeper consumer and market insights, innovative financial operating models and enhanced institutional cooperation.

The launch of DeliverEEM comes at a critical time, as an increasingly complex geopolitical and macroeconomic landscape highlights the urgent need to meet the Paris Agreement’s 1.5°C goal. Building on EEMI’s previous successes, including its efforts to standardise energy efficiency in loan performance assessments, DeliverEEM will advance the EU’s climate targets while supporting the Green Deal and the European Commission’s Renovation Wave, which is key to sustainable development and economic growth.

One of the key features of DeliverEEM will be its focus on de-risking energy efficiency investments, improving the articulation of ESG factors in property valuations, and coordinating a streamlined renovation supply chain that puts consumers at the forefront of the transition. The project will also provide tools, mechanisms, and best practices for market players across the value chain, supporting accelerated energy efficiency mortgage market development.

Thanks to the collaborative efforts of the Consortium Partners, and with key participation from piloting banks, Banco BPM, Banca Sella, Agos, Jyske Realkredit & MBH Bank, DeliverEEM stands ready to drive the energy transition through innovative financial models and partnerships, ensuring that the mortgage industry continues to play a central role in supporting Europe’s path to a more sustainable and resilient economy.

Commenting on DeliverEEM’s launch, DeliverEEM Coordinator, Luca Bertalot, said:

“The scale of the climate challenge is nothing short of huge and we cannot afford to be naïve: unfortunately, there are no simple solutions to the complex issues that face us. A systemic approach to building a new sustainable, housing ecosystem, rooted in a comprehensive understanding of the challenges and needs of all market stakeholders, including consumers, banks, investors, SMEs and digital start-ups, holds the key to rapidly scaling-up the flow of private capital to the renovation of the EU’s building stock. Our new EU-funded Project, DeliverEEM, will help to free up capital markets resources in support of the climate transition and therefore represents the best industry response to the recent recommendations of Mario Draghi in his Report on EU Competitiveness.”

Contact:

Luca Bertalot,

 

Energy Efficient Mortgages Initiative Coordinator

E: lbertalot@hypo.org

Tel: +32 2 285 40 35

Notes to the editor:

  1. The Energy Efficient Mortgages Initiative (EEMI) also consists of:

 

  • Established in 1967, the European Mortgage Federation (EMF) is the voice of the European mortgage industry, representing the interests of mortgage lenders and covered bond issuers at European level. The EMF provides data and information on European mortgage markets, which were worth over 9 trillion EUR at the end of 2023 (EU27 + UK, Norway & Iceland). As of September 2024, the EMF has 13 members across 11 EU Member States as well as a number of observer members.

 

  • In 2004 the EMF founded the European Covered Bond Council (ECBC), a platform bringing together covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders. As of September 2024, the ECBC has over 120 members across more than 30 active covered bond jurisdictions and many different market segments. ECBC members represent over 95% of covered bonds outstanding, which were worth over EUR 3.3 trillion at the end of 2023.

 

The EMF-ECBC is registered in the EU Transparency Register under ID Number 24967486965-09.

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