Energy Efficiency Financial Institutions Group (EEFIG) Project

Aim: Identify barriers and challenges to obtaining long-term financing for energy efficiency.

The EEFIG, an expert group set up by the European Commission and United Nations Environment Programme Finance Initiative, contains over 120 expert participants. It was established in 2013 to address the need to increase the scale of energy efficiency investments across the EU.

The Group’s final report pointed out that investment in energy efficiency is of strategic importance for the EU since it is a “cost effective manner to reduce the EU’s reliance, and expenditure, on energy imports over €400 billion a year.” The report recommends measures such as the creation of energy and cost database for buildings and the development of a project rating system to provide a transparent assessment of the technical and financial risks of energy renovation projects for buildings. It also mentions that barriers to expanding the green mortgage market should be addressed and there should be a review ensuring that current State Aid rules do not unnecessarily burden accelerated energy efficiency investments.

Duration:2013-ongoing, Territorial level: European