EU cooperative banks are committed to supporting the EU’s goals for a zero-emission building sector and will continue providing feedback on a voluntary Mortgage Standards Portfolio framework under the Energy Performance of Buildings Directive.
The EACB welcomes the opportunity to participate in shaping this framework, and wishes to underline the following points:
1. Need for public funding policies: many households lack the financial means for energy-efficient renovations. The introduction of public aid in the form of subsidies and conditional repayment option as well as additional government-backed guarantees could help reduce credit risks and facilitate affordable lending to low-income households for energy renovations.
2. Alignment with existing regulations: any legislative initiative should take proper account of current mortgage and consumer credit regulations. State-backed guarantees and tax incentives could encourage banks to offer more energy-focused loans, especially for low-income clients.
3. Interaction with EU Taxonomy standards: financing for energy renovations should be recognized as sustainable within EU standards. Simplified criteria for compliance, such as energy certification or certified contractors, could make it easier for banks to finance energy-efficient projects.
4. Call for consistency and simplification: the EACB advocates for a coherent, principle-based approach in establishing the framework, focusing on achievable standards that facilitate energy-efficient renovations. Greater harmonization of regulatory requirements is essential to encourage banks to finance these projects effectively.