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Dutch financial institutions unite to promote energy efficient mortgages

Amsterdam, 10 November 2021 - The Energy Efficient Mortgages NL Hub (EEM NL Hub) is an initiative from a diverse group of stakeholders in the Dutch residential housing and mortgage market such as lenders, investors, service providers and other institutions. Energy efficient mortgages will play an important role in financing the transition to a climate-neutral economy. The 20 members of the EEM NL Hub have committed to supporting and promoting the acceleration and adaptation of energy efficient housing in the Netherlands by interpreting the EU regulations for sustainable financing and energy efficient mortgages in specific.

The EEM NL Hub aims to develop and maintain a Dutch framework for energy efficient mortgages [1] that facilitates the translation and application of European regulation into the Dutch mortgage and property market. The ambition of the EEM NL Hub is to interpret and incorporate EU and Global regulations such as the EU Taxonomy and the Paris Climate agreement and other sector initiatives into the Dutch mortgage market. The Dutch framework for energy efficient mortgages is intended to contribute to the sustainability transition of the Dutch housing stock by providing a common interpretation of the EU regulations that will benefit both consumers and investors.

The European Energy Efficient Mortgages Initiative

The European mortgage federation (EMF) initiated the energy efficient mortgage initiative (EEMI) [2]. The EEM NL Hub is a response to the request from the EEMI to set up local (knowledge) hubs to follow European legislation around energy efficient mortgages and facilitate the practical implementation on a national level [3].

The EEM NL Hub focus on implementation of the EU Taxonomy

In the Netherlands buildings are responsible for 35% of the overall energy consumption [4]. Buildings are responsible for approximately 40% of EU energy consumption and 36% of EU greenhouse gas emissions. Currently in Europe about 75% of existing buildings are qualified as ‘energy inefficient’; yet 85%-95% of today’s buildings will still be in use in 2050. Every year about 1% of buildings undergo an energy efficient renovation [5]. Thus: improving the energy efficiency in buildings more swiftly and ambitiously is a critical element in achieving the ambitious goal of carbon-neutrality by 2050, as set out in the European Green Deal. The EU Taxonomy provides criteria to identify the extent to which the financing of economic activities may be considered environmentally sustainable.

Also in the Netherlands, the financing of the sustainability renovation of the property stock is an important component in realising the greenhouse gas emission reduction objectives. The mortgage market can play a crucial role in providing funding to home renovation programmes aimed at improving the energy performance of the Dutch building stock. The Dutch framework for energy efficient mortgages will create transparency through the translation and application of the relevant sections of the EU Taxonomy into the Dutch national building and mortgage-lending practices that will ultimately contribute to standardisation of capital markets financing transactions.

Members of the Energy Efficient Mortgages NL Hub:

ABN AMRO, Achmea Bank/Syntrus Achmea, Aegon, Allianz, ASR, Blauwtrust Groep, Calcasa, CMIS, De Volksbank, European Datawarehouse, Hypoport, ING, Intertrust Group, Nationale Nederlanden/Woonnu, NIBC, NHG, NN Investment Partners, Rabobank/Obvion/Vista, Stater, Venn Hypotheken.

Affiliated members of the Energy Efficient Mortgages NL Hub:

AF Advisors, DBRS, Dutch Securitisation Association, Dutch Association of Covered Bond Issuers, ERM, FitchRatings, IG&H, Moody’s Investor Services, NautaDutilh, NVB, S&P, Rutgers&Posch, Trustmoore, Verbond van Verzekeraars, Vistra, WE Adviseurs.

[1] Otherwise known in the Netherlands as green mortgages


[3] Similar initiatives are currently being undertaken in other EU member states.

[4] Monitor Energiebesparing Gebouwde Omgeving, RVO 2019



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