Swedbank joins the Energy Efficient Mortgages Initiative
Brussels, 25 September 2020 – For immediate release
The Energy Efficient Mortgages Initiative is delighted to announce that Swedbank has joined the Energy Efficient Mortgages Initiative. As of today, 60 lending institutions have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes.
The underlying assumption of the Energy Efficient Mortgage Initiative (EEMI), which brings together the EeMAP, EeDaPP and EeMMIP projects, is that energy efficient mortgages represent several advantages for lending institutions, borrowers and policymakers. Namely, they are believed to reduce the owners’ payment disruption risk, increase property value and, as a result, reduce credit risk for banks and financial institutions.
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 Initiative will furthermore develop a data collection infrastructure for energy efficient mortgages.
Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:
“ We are delighted to welcome Swedbank as a new member of the Energy Efficient Mortgages Initiative. Their participation further strengthens the Initiative in Northern Europe and underlines the willingness of the market to build a more sustainable future for the next generations.”
Fredrik Nilzén, Head of Group Sustainability, Swedbank, stated:
“Membership of the Energy Efficient Mortgages Initiative (EEMI) is another important step in Swedbank’s sustainability journey. By listening to customer perspectives and requirements and developing solutions to fulfil and enable their green future, Swedbank is committed to taking this journey in the company of the members of EEMI.“