Join us for a business briefing on Energy Efficient Mortgages with Luca Bertalot, Secretary-general, European Mortgage Federation – European Covered Bond Council (EMF-ECBC).
In early June 2016, the EMF-ECBC proposed to design an “energy efficiency label” for mortgages, based on certain energy performance indicators. Under this plan, homeowners will qualify for reduced repayment on their mortgages if they undertake energy efficiency renovations, and lower interest rates on loans to pay for them. Research in the US showed that the chance of a green borrower defaulting on a mortgage is up to 32% less than other consumers. EMF-ECBC analysis in the UK and Europe confirmed renovation led to improved property values and reduced risk for borrower and lender. In fact, under this plan, renovation would reduce the risk of banks’ portfolios, resulting in lower capital charges and freeing up cash which could be used to back small businesses.
While much of energy efficiency investment across Europe has been driven by public sector subsidies, green mortgages may provide a key piece of the puzzle for the Irish national renovation strategy.
The business briefing will be followed by a small group discussion (09.30 – 10.30am) on how private investments can be mobilised to make large scale deep renovation happen in Ireland. The group discussion is organised as part of the Build Upon project. Attendees interested in taking part in this discussion should contact [email protected].
About the Speaker
Luca Bertalot is Secretary General of the European Mortgage Federation – European Covered Bond Council (EMF-ECBC). Luca joined the EMF-ECBC in 2006, becoming Head of the ECBC in 2007 and Secretary General in June 2014. Prior to this, he worked as a financial analyst in Italy and in Australia and as a consultant in several World Bank’s missions on Housing and Capital Markets issues. Luca holds a degree in Economics and Financial Markets from the University of Rome, Tor Vergata. He also studied at the University of Mannheim, Germany, and at the Wharton School – University of Pennsylvania, in the United States.
About Build Upon
The aim of the Build Upon project is to build a community of experts and stakeholders to develop the V.2 National Renovation Strategy that Ireland must deliver by April 2017 under the Energy Efficiency Directive. As part of this process, the IGBC, in conjunction with the Department of Communications, Climate Action and Environment (DCCAE) is organising a series of workshop around this topic. Build Upon is funded by the Horizon 2020 Programme of the European Union. Read more.
Bookings
Bookings are closed for this event.
