News & Events

The Commission is in the process of updating some of the content on this website in light of the withdrawal of the United Kingdom from the European Union. If the site contains content that does not yet reflect the withdrawal of the United Kingdom, it is unintentional and will be addressed.

Closing the gap on energy efficiency investments

Share this Post:

Source: https://ec.europa.eu/info/news/closing-gap-energy-efficiency-investments-2020-dec-22_en

The Commission officially launched a new, revamped website for the EU-UN initiative Energy Efficiency Financial Institutions Group (EEFIG), which aims at addressing the investment gap on energy efficiency.

 

The objective of the new website is to keep stakeholders in the financial sector better informed on EEFIG activities, including synergies between the existing EEFIG structures and new EU initiatives foreseen under the European Green Deal, notably in the renovation wave initiative.

 

Energy efficiency plays a crucial role in achieving the EU’s Green Deal ambition of becoming climate-neutral by 2050. At the same time, the largest investment gaps identified in achieving this clean energy transition are those for energy efficiency measures in the building stock, small and medium-sized enterprises (SMEs) and industry.

 

The European Commission estimates that to achieve the newly agreed 55% climate target by 2030, around EUR 275 billion of investments are needed - the lion’s share in energy efficiency.

 

The Energy Efficiency Financial Institutions Group (EEFIG) was established by the European Commission’s Directorate-General for Energy and the United Nations Environment Programme Finance Initiative (UNEP FI) in 2013.

 

Its aim is to gather participants from both public and private financial institutions, industry representatives and sector experts.

 

Read the full news here.