1. EeMAP: The Story So Far
James Drinkwater, Director, WorldGBC Europe
2. • Mortgages = ⅓ of total EU banking sector assets -
worth ½ EU GDP (€7 trillion)
• Most well-known and cheapest form of property loan
• Engage with key “trigger points” for renovation
(purchase, refinance)
• EU capital market reforms – EU setting out strategy
for sustainable finance
• Leading mortgage lenders recognise case for
favourable capital treatment if loan data can
evidence lower risk
Why mortgages and why now?
3. “has the potential to change consumer behaviour”
“opens tremendous social and economic opportunities
for households, lenders and investors”
“A clear and common framework constituting an Energy
Efficient Mortgage would help us grow this market”
“we support the development of the EeMAP initiative”
“Now is the time for private financial
institutions to enter the market at scale”
Growing enthusiasm amongst
Europe’s biggest banks
4.
5. “A unique partnership to leverage
the power of mortgage lending in
reducing the energy use of
Europe’s buildings.”
7. Project Timeline: Energy Efficiency Work
Research Phase
State of
Play
Reports
Pilot Phase
10x National Workshops
Initial
Pilot
Outcomes
Consultation
Draft
Proposals &
Consumer
Research
Updated
Proposals
for Pilot
Phase
Public
Consultation
Closes
12 March
2018 2019
OCT NOV DEC JAN FEB MAR APR MAY JUN JUN
2017
8. EeMAP Consumer Research
Qualitative and Quantitative Consumer Research:
• Focus groups in 4 key markets: DE, IT, SE, UK
• Online surveys in 3 key markets: IT, SE, UK
• Insights into consumer preference and likelihood to take out a
‘green mortgage’
• Full report out 15 Feb 2018!
Available from worldgbc.org/green-mortgages
9. 9 All respondents. UK = 525, IT = 516, SW = 543
500 interviews in three markets with consumers who had recently taken out a
mortgage, or were actively considering a mortgage
First time buyer
1st mortgage or considering first
mortgage
19% 24% 17%
Experienced mortgagee
onto their 2nd or more mortgage 54% 54% 48%
Multiple mortgage holder
2 or more mortgages 27% 22% 34%
10. 10
A significant proportion of the market in Italy consider energy efficiency when buying
a home, but this is more muted in other markets
X1. Which of the following are most important when considering which property to buy?
Base: All respondents UK (525), Italy (516), Sweden (543)
Important factors when buying a property
All respondents
Importance
Price
53
%
42
%
Location of the
property
How energy efficient
the property is
37
%
How energy efficient
the property is
24
%
Price
71
%
62
%
Location of the
property
Size of the property
35
%
How energy efficient
the property is
19
%
Price
65
%
62
%
Location of the
property
Size of the property
42
%
11. 11 B2. How relevant is this new mortgage product to you?
Base: All respondents UK (525), Italy (516), Sweden (543)
Italian’s see Green Mortgage as relevant, but some consumers in Sweden struggle to
believe it could be of interest to them
Claimed relevance of Green Mortgage proposition
All respondents
34%
Very / quite
relevant
Very
relevant
63%
53%
Very / quite
relevant
Very
relevant
79%
Very relevant
Very / quite
relevant
Not at all
relevant
20%
19%
43%
* Not at all relevant UK = 10%, Italy = 3%
Significantly higher or lower vs. other markets
12. 12
The Green Mortgage holds greatest appeal to the Italian market, and outright
rejection of the proposition is minimal…
Very appealing
(T2B)
37% 55% 31%
Appeal of Green Mortgage proposition
All respondents
B1. Thinking broadly about the new mortgage product you have seen, how appealing do you find it?
Base: All respondents UK (525), Italy (516), Sweden (543)
Very / quite
appealing
(T3B)
66% 80% 58%
Very unappealing
(B2B)
7% 3% 9%
“This would be brilliant –
we’ve been wanting to
do something like this for
years… there’s no
downside – 10/10”
Sweden
“I like the idea
of improving energy
efficiency and I think that
in the long run I’ll save
money”
Italy
“An excellent opportunity
for energy improvement
in my home, helping not
only me, but the
environment”
Italy
“I like trying to be
green and love idea
of being rewarded for
it”
UK
Significantly higher or lower vs. other markets
13. Building Assessment Briefings
Detailed market intelligence covering:
• Characteristics of the building stock
• Energy performance certificates, eg: access, QA procedures,
coverage, etc.
• Other energy performance assessment infrastructure
• Energy performance measurement infrastructure
• Existing EE finance initiatives
• Sustainability assessment and certification landscape
Available from worldgbc.org/green-mortgages
14. EeMAP Pilot Scheme
June 2018 onwards
• To test the EeMAP guidelines in an
operational environment
• Create the learning and relationships needed
to strengthen value-chains
• In time, mortgages will be issued, in line with
EeMAP’s proposed guidelines
• Lenders will identify and ‘tag’ existing
mortgages that meet the requirements
• Anonymised data on energy performance will
be collected by the EeMAP consortium
15. EeMAP National Workshops
• To gather detailed national feedback on proposed Building Performance Criteria
• To explore national implementation
• Feedback will be collated by WorldGBC Europe
• Feedback used to refine to proposals ahead of the pilot in June