The Energy Efficient Mortgages Pilot Scheme welcomes Hemma as the first digital mortgage platform to join the Initiative


Brussels,  20 October 2020 For immediate release

The Energy Efficient Mortgages Initiative (EEMI) is delighted to announce that Hemma has joined the Energy Efficient Mortgages Pilot Scheme. As of today, 65 lending institutions have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes.

The Energy Efficient Mortgages Initiative is the result of multisectoral governance and strong cooperation aimed at designing a new sustainable business model which delivers incentives and benefits for consumers, banks, utilities, SMEs, local authorities, regions and cities. This joint effort between the private and public sectors is intended to not only secure quality and transparency in relation to energy efficient mortgages, but also to deliver unprecedented coordinated support across sectors to the recovery from the COVID-19 crisis and to the implementation of the EU Green Deal. Against this background, these 64 lending institutions are joined by 48 supporting organisations throughout EU and by 17 national, European and International institutions of the 19 Advisory Council, which advises on the development of the Pilot Scheme in the market

The EEMI is intended as a pan-European effort to coordinate market interventions in relation to the financing of energy efficiency in buildings, create synergies in the mortgage and covered bond value chain, and in this way deliver a virtuous circle between lenders, borrowers and investors from the origination of the mortgage to the pooling of energy efficient collateral that would be the underlying collateral for “green” covered bonds.

It consists of three parallel projects, the “Energy efficient Mortgages Action Plan” (EeMAP), the “Energy Efficient Data Protocol and Portal” (EeDaPP) and the “Energy Efficient Mortgage Market Implementation Plan” (EeMMIP) and is funded via the European Commission’s Horizon 2020 Programme.

Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, stated:

It is with pleasure that we welcome Hemma to the Energy Efficient Mortgages Pilot Scheme as the first digital mortgage platform, with a licence to originate mortgages from the Swedish FSA, to join the Initiative. We believe that the shift towards a digitalised economy should go hand in hand with sustainable financial services and products: digitalisation and sustainability will be the key drivers for a new market paradigm. Additionally, digitalisation further facilitates financial intermediation between borrowers and lending institutions and enables greater data transparency on asset portfolios which is to the benefit of all.”

Therese Ruth, Founder and CEO of Hemma commented:

We are excited to join the Energy Efficient Mortages Pilot Scheme as the first digital mortgage platform. With a fully digital experience and more affordable mortgages, we want to create financial incentives for households to invest in energy efficiency and renewables and act as a catalyst for change and increased focus on sustainability in the mortgage markets.”