A pool of 37 European banks will be the protagonist for the concession green mortgages for energy efficiency. They are getting organized and within two years they will establish how, where and how to intervene. They have launched a pilot project which will mature, precisely, over the next 24 months, together with about twenty organizations in the sector. The framework for theEnergy Efficient Mortgages Pilot Scheme (this is the title chosen) is a real aid to the transition to renewables with dedicated financial products. A bet in which medium and large credit institutions participate. From the Italian Monte dei Paschi di Siena, BPER, Banca Friulovest Banca, to Paribas, Compagnie de Financement Foncier, Société Généerale, Nordea Bank, Triodos Bank.
Even before the pilot experiment, the promoters evaluated the project of the European Mortgage Federation, which also includes the ItalianCa' Foscari University of Venice.
The banks are working on an initial data collection, useful for establishing which sectors to intervene on. But it is well known that the most critical sector, and at the same time the most interesting, is that of non-renovated old buildings. It is clear that the granting of mortgages will also have repercussions on the real estate market.
The good intention of the bankers is to provide answers to the market in support of European programs, still aimed at the 2030 objectives. The large number of organizations participating in the pilot project represents 45% of the loans currently granted and corresponds to the 21% of EU GDP. Both banks and collateral organizations will prepare a cross-functional standard protocol that will allow individual lenders to understand the level of energy efficiency and sustainability of the properties the money will go to. Here the goal becomes even more ambitious, because it takes into account theAction Plan on Sustainable Finance maintained by the European Commission. A supranational plan where the criteria of environmental and energy sustainability cannot overlook what is found in individual countries.
Even better in individual areas, such as in Italy, where the differences in the building stock between North and South are profound and structural. The Gentiloni government had however taken charge of its own allocation of 150 million euros to be managed together with Invitalia.
Luke Bertalot, coordinator of the pool, having put together the skills of the various players will give "a decisive impulse to make the building stock of our cities more efficient and a concrete contribution to achieving the objectives established by the COP23 agreement". The Europe of banks is not always to blame.
