The Renovate Europe Campaign and Positive Money Europe co-organised this webinar on the occasion of the launch of the Unlock campaign.
The current recast of the Energy Performance of Buildings Directive (EPBD) proposes comprehensive measures to accelerate the energy efficient renovation of residential buildings. However, financing the Renovation Wave remains a complex challenge. The Commission expects a funding gap of around €275 billion per year by 2030. Public funding for renovation is often too slow to deploy, too bureaucratic, and not scalable enough for the magnitude of the challenge.
ECB research estimates that around €214 billion a year of the needed additional funding should be covered by bank loans. The Commission’s proposal rightly emphasised the role of energy efficiency loans and mortgages in the Renovation Wave by introducing the concept of a Mortgage Portfolio Standard. However, banks lack incentives to offer cheap lending products.
What role can the banking sector play in the Renovation Wave? How can the European Central Bank unlock affordable green loans and green mortgages? Our experts answered these questions during the webinar.
Agenda
Presentations
- The current state of play of the renovation challenge: Adrian Joyce, Renovate Europe
- Introducing the EU Renovation Loan: Peter Sweatman, Climate Strategy
- How the ECB can finance home renovations through its refinancing operations and TLTRO programme: Uuriintuya Batsaikhan, Positive Money Europe
Discussion and questions
- Sean Kelly, Member of the European Parliament
- Karlis Goldstein, European Commission
- Jennifer Johnson, European Mortgage Federation
Introducing the Unlock campaign
- Vicky Van Eyck, Positive Money Europe
