The EeDaPP Initiative aims to design and deliver a market-led protocol to enable the recording of data relating to energy efficient mortgage assets and which will be made accessible via the design of a common data portal.
The EeDaPP Initiative is intended to both complement and build on the EeMAP Initiative – which aim to create a standardised “energy efficient mortgage” based on a financing mechanism – by addressing the current lack of large-scale standardised energy efficient asset datasets in order to help develop a true market for energy efficient financing by enhancing transparency, viability and comprehensive risk analysis.
The Energy Efficient Mortgages Initiative, under which umbrella the EeMAP and EeDaPP initiatives run in parallel, is based on the realisation that: (i) banks, in financing the purchase of homes, can play a game-changing role in supporting the EU’s energy savings targets, by bringing energy efficiency into the conversation between banks and consumers by means of a standardised approach to the financing of energy efficient buildings/renovation, and (ii) it is essential to gather and access large-scale data relating to energy efficient mortgage assets (loan-by-loan) for the purpose of risk analysis by way of an accompanying data protocol and portal.
The Energy Efficient Mortgages Initiative is built on the premise that the mortgage and covered bond industries can help to bridge the renovation gap with a private financing initiative, which is independent from but complementary to public funds, tax incentives, and utility rebates, and in this way support the EU in meeting its energy savings targets, whilst at the same time creating a strong link between the Capital Markets Union and energy efficiency agendas.
Significantly, the Energy Efficient Mortgages Initiative represents the first time a group of major banks and mortgage lenders, as well as data providers, companies, and organizations from the building and energy industries and the valuation profession, have proactively come together to discuss private financing of energy efficiency.