Market-led, EU-funded ENGAGE consortium awarded grant to enable data and funding needs for the decarbonisation of Europe’s building stock

Project to address the digital transformation and green transition challenges identified by the EU Green Deal

BRUSSELS, November 16, 2022–(BUSINESS WIRE)–European DataWarehouse (EDW), together with Hypoport BV, Università Ca’ Foscari Venezia, Woonnu BV, Unión de Créditos Inmobiliarios SA Establecimiento Financiero de Crédito and Dexai-Etica Artificiale, is pleased to announce the launch of the program Engage for ESG The Activation Investments (ENGAGE) project, which received a grant from the European Climate, Infrastructure and Environment Executive Agency (CINEA) under the LIFE programme.

ENGAGE aims to jointly create an innovative, future-proof data and financing framework for energy-efficient mortgage and retrofit financing, making sustainable energy investments more attractive to private investors and aligning them with financing policy sustainability of the EU.

Marco Angheben, Project Coordinator and Head of Business Development and Regulatory Affairs at EDW, said: “European DataWarehouse is delighted to lead this consortium which will bring together the technical and jurisdictional diversity needed for successful project implementation and impact. positive on the sustainable finance market.”

“We are delighted to be paving the way for strong growth in energy efficiency investment across Europe,” adds Vincent Mahieu of Hypoport. “The regulatory and technical infrastructure must be strong for all market players, including consumers, to realize its enormous potential. We are proud and encouraged to receive funding from CINEA.

Over a period of three years, the ENGAGE team will work to develop a standardized template for disclosing energy efficiency data for mortgages, in line with the most relevant European regulations. The model will be operationalized through the Green Investment Portal.

The ENGAGE Framework for Mortgages and Energy Efficiency Renovations will create transparency through the translation and application of the relevant sections of the EU taxonomy (and the upcoming EPBD) into Dutch and Spanish national practices for construction and mortgage lending, which will ultimately contribute to the standardization of innovative solutions. and capital market financing operations targeted at decarbonization.

Context of the project

Attracting private investment and boosting green loan financing is crucial to the EU’s mission to achieve zero-emission building stock by 2050. ENGAGE aims to provide a solution to have a single format for disclosure of data for mortgage finance and regulatory purposes encompassing the most relevant European ESG criteria. regulations such as EU taxonomy, EU GBS and EPBD. ENGAGE thus aims to facilitate a truly new format that facilitates both banks, regulators and investors by combining existing mortgage disclosure(s) with new (and recently announced) ESG regulations, such as the EU taxonomy. Creating transparency on definitions and requirements, as it relates to data needs, will allow financial institutions to translate those needs to consumer products as well.

Why ENGAGE?

Buildings are responsible for around 40% of EU energy consumption and 36% of EU greenhouse gas emissions. Currently in Europe, approximately 75% of existing buildings are qualified as “energy guzzlers”; Yet 85-95% of today’s buildings will still be in use in 2050. Every year, around 1% of buildings undergo an energy-efficient renovation1. Home renovations and their financing are expected to increase. Financing the energy efficiency improvement building stock is an important element in achieving the objectives of reducing greenhouse gas emissions. The mortgage market can play a crucial role in financing home renovation programs aimed at improving the energy performance of the European building stock. The ENGAGE Framework for Mortgages and Energy Efficiency Renovations will create transparency through the translation and application of the relevant sections of the EU taxonomy (and the upcoming EPBD) into Dutch and Spanish national practices for construction and mortgage lending, which will ultimately contribute to the standardization of innovative solutions. and capital market financing operations targeted at decarbonization.

DISCLAIMER: co-funded by the European Union. The views and opinions expressed are, however, those of the author(s) alone and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for this.

1 https://ec.europa.eu/info/news/focus-energy-efficiency-buildings-2020-feb-17_en

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221115006225/en/

contacts

Media Contact:
European DataWarehouse GmbH
Carla Scarsella
Such. +49 (0) 69 50986 9320
Email: [email protected]

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