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Creating an energy efficient mortgage for Europe - Preliminary recommendations

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EeMAP White Paper



This White Paper presents an overview of current practices in relation to finance, energy efficiency indicators, property valuation and the impact of energy efficiency on risk management in the context of the private bank financing of energy efficiency in the EU’s building stock. In producing this White Paper, the European Mortgage Federation – European Covered Bond Council (EMF-ECBC) has summarised the results of comprehensive research findings which are detailed in four underlying EeMAP Technical Reports on the same topics, and which constitute the basis of initial cross-sectorial conclusions and recommendations regarding the cornerstones of a future Energy Efficient Mortgage product.


A number of important recommendations from banks emerge from the research:


  • In order to facilitate market entry by banks, an Energy Efficient Mortgage product should be supported by a simple and standardised framework allowing for national heterogeneity, with guidance on the underlying finance mechanism
  • A clear definition of an Energy Efficient Mortgage is required to enable banks to differentiate between energy efficient and conventional mortgages in their risk management processes
  • In order to ensure that energy efficiency is appropriately taken account of in property valuations, banks should be guided on how and what to instruct property valuers in relation to energy performance of buildings
  • In order for banks to be able to integrate energy efficiency in credit risk assessments, energy efficiency performance indicators should be simple and proportionate, with flexibility to take account of differences between current national approaches

In closing, the White Paper points to a number of elements which will be taken forward to the next stage of the EeMAP Initiative, and presents the agendas of the EeMAP Banking & Finance, Energy Efficiency and Valuation & Data Committees for the coming months. The White Paper ends with a call to action that targets banks, property sector professionals, utilities, and national and EU policymakers. The engagement of all of these stakeholders in subsequent phases of the EeMAP Initiative is vital to its success.



You can download the White Paper at the link below.