UCD Business professors join EU Energy Efficient Mortgages Pilot Scheme Council
Prof. Andreas Hoepner and Dr. Theodor Cojoianu from University College Dublin have joined the Advisory Council of the EU Energy Efficient Mortgages Pilot Scheme. The Energy Efficient Mortgages (EEM) Initiative is part of the European Union’s Horizon 2020 Research and Innovation Programme. Professor Hoepner and Dr Cojoianu are the first representatives from an Irish university and were chosen due to their international-leading research on environmental finance.
“Given the urgent need to transition to a low carbon economy, the Energy Efficient Mortgages project is a much-needed initiative which is expected to unlock the financing towards decarbonising the EU building stock and beyond,” said Hoepner and Cojoianu.
The EEM Initiative aims to deliver a mortgage financing mechanism where borrowers are incentivised to improve the energy efficiency of their properties, or to acquire highly energy-efficient properties, by way of favourable financial conditions linked to the mortgage, for example. The initiative will design a data collection infrastructure for energy-efficient mortgages. This will enable financial innovation to ensure the funding of decarbonisation initiatives in Europe’s building stock.
“UCD will help us to play a pivotal role in building a greener and more sustainable planet for future generations and we are delighted to welcome Professor Andreas Hoepner and Dr. Theodor Cojoianu as new Council members,” said Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator. “We believe that their knowledge and expertise, combined with Professor Hoepner’s participation in the European Commission’s Technical Expert Group on Sustainable Finance (DG FISMA) will be a great asset for the initiative and help us to reinforce the linkages between the EEMI and the work of DG FISMA on sustainable finance.”
The Advisory Council plays a key role in providing support to the EEM Initiative as a platform for the exchange of best practices and dialogue between policymakers and stakeholders from the financing and banking communities, property and construction sectors at local, European and global levels. The ultimate goal is to achieve market development in relation to energy-efficient mortgages.
Forty-seven European lending institutions, including AXA, BNP Paribas and KBC, among others, joined by 33 supporting organisations throughout the EU, have signed up to the Pilot Scheme and have committed to testing the implementation of the energy-efficient mortgages framework into their existing product lines and processes.
To learn more about the Energy Efficient Mortgages (EEM) Initiative, visit https://energyefficientmortgages.eu/.