Brussels, 27 July 2021 – For immediate release
The EEMI is intended to design a new, integrated, multi-stakeholder ecosystem – bringing together banks, investors, utilities and public authorities to name but a few – focussed on the development of a market in energy efficient mortgages. The overall objective of the Initiative is to stimulate and finance investment in energy efficient buildings and energy saving renovations, and by doing so help to secure a greener and more sustainable future for all.
The Initiative will also help to ensure that the Recovery from the COVID-19 pandemic is “green” and will contribute to the NextGenerationEU vision.
It consists of three parallel projects, the “Energy efficient Mortgages Action Plan” (EeMAP), the “Energy Efficient Data Protocol and Portal” (EeDaPP) and the “Energy Efficient Mortgage Market Implementation Plan” (EeMMIP) and is funded via the European Commission’s Horizon 2020 Programme.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, declared:
“Against a background where global climate objectives and sustainable finance continue to dominate the EU agenda and the agendas of EU Member States and participants’ attention is squarely focussed on the management of ESG risks, we are delighted to welcome DBRS Morningstar to the EEMI’s Advisory Council. DBRS Morningstar evaluates and incorporates relevant ESG factors in the assessment of its credit ratings and therefore brings a wealth of expertise and experience which will add significant advisory value to the EEMI’s efforts to base its actions on empirical evidence and robust data analysis.”
Christian Aufsatz, Head of European Structured Finance and Covered Bonds of DBRS Morningstar stated:
“DBRS Morningstar recognises the importance of credit-relevant ESG factors in the credit rating analysis and with the growing quantity of data available in this area, we consider that it is crucial to push for further transparency and standardisation in the mortgage market. Being part of the Advisory Council of the EEMI will allow us to better understand and have easier access to the property efficiency data in the context of mortgage performance.”
Copyright © Energy Efficient Mortgages Initiative
The EeMAP, EeDaPP, EeMMIP projects have received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 746205, No. 784979 and No. 894117 respectively.
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