Green mortgage data portal initiative wins Commission funding

A market initiative to produce a standardised pan-European protocol and portal for financial data on energy efficient mortgages, EeDaPP, has won support and funding from the European Commission, ahead of the forthcoming pilot phase of the Energy efficient Mortgages Action Plan (EeMAP).

The Energy efficiency Data Portal & Protocol (EeDaPP) Initiative was launched by the European Mortgage Federation-European Covered Bond Council and consortium partners to address a lack of standardisation in terms of technical and financial datasets that currently hinders market transparency and risk assessment of energy efficiency investments.

It was announced today (Monday) that the Commission will support the initiative through its Horizon 2020 research and innovation investment programme.

The EeDaPP Initiative, which was highlighted at a 13 September ECBC plenary, aims to design and deliver a protocol that will enable the large-scale recording of data relating to energy efficient mortgage assets (loan-by-loan), via a standardised reporting template. This data will be accessed by via a common, centralised portal, allowing for continuous tracking of the performance of the energy efficient mortgage assets, thereby facilitating the earmarking of such assets for energy efficient bond issuance, says the EMF-ECBC.

The initiative will complement the Energy efficient Mortgages Action Plan, which aims to create an energy efficient mortgage product that would incentivise the purchase of energy efficient properties or facilitate energy efficiency improvements in existing properties. EeMAP, launched by the EMF-ECBC and its consortium partners in September 2016, has also received Horizon 2020 funding.

The EMF-ECBC said standardised data collection and reporting will be at the heart of the forthcoming EeMAP Pilot Phase, during which banks will originate energy efficient mortgage products.

“In the context of furthering energy efficiency finance, the EeDaPP Initiative will facilitate the large-scale gathering, processing and disclosing of granular technical and financial information and, in this way, help financial markets to address climate-related risks going forward and safeguard financial stability,” said Luca Bertalot, EeDaPP coordinator and secretary general of the EMF-ECBC.

“We therefore consider the European Commission’s favourable evaluation of the EeDaPP Initiative as an important recognition of and support for our initiative, and we look forward to embarking on this new project.”

The EeDaPP Initiative is to be officially launched at an opening event in the first quarter of 2018.

Photo: Luca Bertalot speaking at an EeMAP event in Rome, June 2017; Credit: EMF-ECBC