The Energy Efficient Mortgages Initiative welcomes Swedish digital mortgage originator Stabelo to the Pilot Scheme
Brussels, 20 November 2020 – For immediate release
The Energy Efficient Mortgages Initiative (EEMI) is delighted to announce that Stabelo has joined the Energy Efficient Mortgages Pilot Scheme. As of today, 67 lending institutions have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes.
These lending institutions are joined by 49 supporting organisations throughout EU and by 14 national, European and International institutions of the Advisory Council, which advises on the development of the Pilot Scheme in the market.
The EEM Initiative aims at delivering a mortgage financing mechanism, according to which 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. The objective of the Initiative is to stimulate and finance investment in energy efficient buildings and energy saving renovations, in this way, help to secure a greener and more sustainable future for all.
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 mortgage funding 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” funding. .
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, declared:
“We are pleased to welcome Stabelo as a new member of the Energy Efficient Mortgages Initiative, further reinforcing the take-up of the EEMI in Sweden and underlining the timeliness and relevance of the Nordic EEMI Market Hub. The challenges associated with the energy transition, challenges which are exacerbated by the COVID-19 crisis, require a fundamentally new paradigm, integrating both sustainability and digitalisation of financial services. This combination is at the heart of Stabelo’s activities and, with this in mind, we are very much looking forward to the expertise that Stabelo will bring to the EEMI table.”
Mr Hampus Brodén, Co-Founder and CEO of Stabelo stated:
“We look forward to work with our partners to develop the initiative to include also newly emerging types of mortgage originators and mortgage financing platforms. We believe that we can contribute a different perspective given our truly digital nature and our alternative fund-based financing model.”