Last September, the European Mortgage Federation – European Covered Bond Council (EMF-ECBC) launched a new mortgage financing initiative. The aim of this pan-European initiative is to encourage energy efficiency improvements in buildings by creating a standardised energy efficiency mortgage. This is the first time a group of major banks and mortgage lenders, organisations and businesses from the building and energy industries collaborate to design a private bank mechanism to support energy efficiency improvements in households.
To support this initiative, RICS contributes to the development of instructions, trainings and an inspection checklist for banks on how to value these properties to ensure that banks are able to recognize “green” assets in their risk profiling, something that may help the market to price-in the added value of energy efficient real estate. The initiative was further discussed at the BUILD UPON Madrid Leaders Summit, where REVALUE started a collaboration with the EMF to update guidelines for valuing energy efficiency in homes
