The report Creating an Energy Efficient Mortgage for Europe: The Supporting Role of the Green Building Sector sets out roadmap for market development with potential to transform millions of buildings across Europe.
In order to grow the market so that energy efficient mortgages will be made available to every borrower in Europe, the finance and the green building sector must work together more closely.
The roadmap set out for building, construction and energy efficiency organisations to follow will help the market for green finance to flourish – with the potential to transform millions of buildings across Europe.
Written jointly by WorldGBC’s Europe network and E.ON as part of the highly successful, EU funded Energy Efficient Mortgages Initiative, the report emphasises the importance of considering the needs of the borrower to ensure energy efficient mortgages have broad appeal.
A pilot scheme launched in 2018 by the initiative, which also involves the European Mortgage Federation – European Covered Bond Council and the Royal Institute of Chartered Surveyors, has already seen 46 major banks signed up to develop new green lending products.
City and regional governments including the Scottish government have also committed to support the initiative.
The success of these new products can be secured through the support of businesses and organisations with expertise in building energy performance.
They can take action to stimulate demand, streamline delivery of energy efficient buildings and renovations and provide extra support to the borrower.
These goals can be achieved through both greater collaboration across sectors and education and training to increase awareness and skills.
Additionally, innovation is required to streamline the assessment, planning and delivery of high-performance buildings and renovations which satisfy lenders criteria for energy efficient mortgages.