Workshop for CZ Financial Institutions: Financing Energy Efficiency & EEFIG

Size: px
Start display at page:

Download "Workshop for CZ Financial Institutions: Financing Energy Efficiency & EEFIG"

Transcription

1 Workshop for CZ Financial Institutions: Financing Energy Efficiency & EEFIG Prepared by Peter Sweatman, CEO - Climate Strategy Prague Energy Efficiency Finance Meeting Updated for Monday, 8 th December 2014, Prague

2 Objectives for this Workshop Introduction to the Energy Efficiency Finance Challenge in CZ Buildings Energy Efficiency Financial Institutions Group (EEFIG) Approach Financial Instruments in the Context of EU Structural and Investment Funds Establish a common diagnosis of the current situation and identify some key activities which can support a solution set Q&A

3 Climate Strategy & Partners Executive Founded in 2009, Climate Strategy is a Madrid Spain based consulting firm specialized in energy efficiency and the transition to a low carbon economy Climate Strategy provides strategic advice and first class project execution to our clients in areas of: CS Clients Include: CS CEO = Peter Sweatman Engineer from Cambridge University 9 years at JPMorgan 5 years as Social Entrepreneur 5 years as MD for Iberia for Climate Change Capital 6 years running Climate Strategy 7x White Papers on Energy Efficiency Finance Co-author of Spanish National Strategy for Buildings Renovation 190 public lectures/ speeches 90+ press articles Energy Efficiency Clean Technology Clean Energy Policy & Finance Environment Sustainability Climate Strategy has focused on Energy Efficiency financial structures and related projects for a large part of its work over the last 6 years including 7x white papers, project structuring, policy support work in multiple countries and at EU level. In addition, CS s CEO has presented 190+ key-notes, speeches and high-level presentations on Energy Efficiency and the Transition to a Low Carbon Economy and lectures at IE University, ICAI/ Comillas and the European University Institute. Peter is also advisor to Climate Lab, Climate Bonds Initiative, Network for Sustainable Financial Markets, JCI Buildings Institute, EE Global and has generated over 90 press articles.

4 Part 1: Introduction to the Energy Efficiency Finance Challenge in CZ Buildings

5 CZ Buildings: 44% of Czech Families live in Single Family Homes in 195 million m2 SINGLE FAMILY HOMES Terraced 257,262 16% Semi-Detached 133,877 9% Total 1.5 million homes 75% Detached and mainly of 2- storeys 1.9 million apartments (ie families) approx. 100m2 per family Total of 195 million m2 25% already renovated Detached 1,163,655 75% Census and the count of houses and apartments from CCHA,

6 CZ Buildings: 56% of Czech Families live in Multi- Family Apartment Blocks in 156 million m2 Pre ,077 12% ,775 13% Other 4,682 2% ,674 6% ,042 18% Total 211,000 apartment blocks 2.4 million apartments (ie families) of 65m2. Total of 156 million m2 40% already renovated 35,000 30,000 25,000 20,000 15,000 10,000 5, ,573 15% Census and the count of houses and apartments from CCHA, ,429 34% 5 - # Storeys

7 CZ Buildings: 263 million m2 of Tertiary Buildings of which half are heated with 50% potential savings Services/ Education 19% Warehouses 11% Residential 2% Agricultural 3% Total 600,000 tertiary buildings Average floor area of 1,257 m2 Commercial 11% Livestock 2% Industrial 13% Administration 19% Total of 263 million m2 of which 49% is heated 50% of heating load (85% of energy usage per building) can be saved. Source: Chance for Buildings Renovation Strategy April 2014 Hotels 2% Shopping 8% Family Holiday 10% 6

8 Chance for Buildings Study of Energy Savings across Various Buildings Segments Water 12 10% Energy Savings (PJ) Lighting 3 3% Potential savings of 45-81% of Heating load for Residential buildings ( PJ) Potential savings of 30% of Water heating load (12 PJ) Potential savings of 60% of Lighting (3.4 PJ) Source: Chance for Buildings Renovation Strategy April 2014 Heating % 7

9 Chance for Buildings Estimates of Total Funding 1.5 bn per annum to Renovate CZ Buildings 30 Total Expenditure for Renovation (by Type, Euro billions) To renovate CZ buildings over years requires Euro bn investment each year: Recommended Standard = Euro 1.05bn (RES) and Euro 0.37 (TER) 40 years Passiv Standard = Euro 1.55bn (RES) and Euro 0.37 (TER) 40 years SFH ENVELOPE SFH TECH Passiv MFH ENVELOPE Recommended MFH TECH TERTIARY Source: Chance for Buildings Renovation Strategy April

10 Part 2: Energy Efficiency Financial Institutions Group ( EEFIG ) Approach

11 EnergyEfficiency-the first fuel for the EU Economy How to drive new finance for energy efficiency investments Part 1: Buildings (Interim Report)

12 Introduction The Energy Efficiency Financial Institutions Group( EEFIG ) was established as a permanent working group by the European Commission, in late 2013 as a result of the dialogue between DG Energy and UNEP FI, as both institutions were engaging with financial institutions to determine how to overcome the well documented challenges inherent to obtaining long-term financing for energy efficiency. EEFIG aims to create dialogue between policy makers and representatives of the financial sector as well as energy efficiency experts, and ultimately increasing energy efficiency finance. The group is currently comprised of 51 individuals representing 30 institutions. EU Commission tasked EEFIG to deliver an Interim Report which addresses three key questions: What are the most important challenges to overcome? Who would be the right party to address them? What should the European Commission/EU do? Interim report summarizes work and thinking over 6 months - October 2013 and March 2014 EEFIG will deliver a final report in November 2014 which will deepen its work in the buildings sector and also consider energy efficiency investments in Small and Medium Sized Enterprises (SMEs) and Industry in Europe. 11

13 EEFIG Members Allianz Real Estate ASN Bank Bank Nederlandse Gemeenten(BNG) BNP Paribas Investment Partners Buildings Performance Institute Europe(BPIE) Caisse des Dépôts Cassa Depositi e Prestiti S.p.A. CDC Climat Cecodhas Housing Europe Climate Strategy and Partners Deutsche Bank Group E3G European Commission EBRD EIB Energy Managers Association EuroACE EUROBANK ERGASIAS SA European Association of Public Banks(EAPB) Hermes Real Estate Institutional Investors Group on Climate Change(IIGCC) ING Commercial Banking KfW Bankengruppe Netherlands Enterprise Agency(RVO.nl) NRW.BANK Royal Institution of Chartered Surveyors(RICS) Société Générale Triodos Bank UniCredit Group United Nations Environment Programme(UNEP) and its Finance Initiative(UNEP FI). 12 EEFIGis supported by Climate Strategy and Partners (www.climatestrategy.com) which was contracted to support the coordination and drafting of this report on behalf of EEFIGand whose Chief Executive is also a member of the group. EEFIG meetings are convened and chaired by DG Energy

14 Background / Framework Rationale for scaling up Energy Efficiency Investments in Europe: Energy Efficiency is described as the EU s biggest energy resource One of the most cost effective ways to enhance the security of its energy supply and decrease the emissions of greenhouse gases and other pollutants Energy efficiency investments are characterisedby: a. Their capacity to bring direct energy returns b. Bring additional value streams to private owners and asset operators c. Significant public benefits in terms of: Increased employment Lower emissions Increased energy security and reduced dependence on foreign energy imports Improvements to a country s fiscal balance Key Facts a. 2011, global energy efficiency investments across all sectors totaled $300bn b. A 2012 Eurima report estimates that billion is needed to be invested annually in EU buildings to achieve Europe s 2020 energy efficiency targets c. A 2014 Ceres report denotes that the additional investment required beyond business as usual to limit temperature rises to a 2⁰C scenario are up to another $300 billion per annum between 2010 and 2020 d. Europe s Energy Efficiency Plan expects to deliver 2 million jobs Potential annual financial savings estimated at Euro 1,000 per European household 13

15 Drivers of Demand for and Supply of Energy Efficiency Investments in EU Buildings Methodology Step 1 Identification of the key drivers to convert energy efficiency into a preferred investment area Step 2 Step 3 Prioritisation of the importance ofthedriversthroughasurveyto allow EEFIG members to rank them Distinguishing between policy led vs. market led activities D r iv e r s EEFIG members made over thirty written submissions containing examples and analysis of existing and emerging financial instruments The group discussed and identified drivers affecting: demand(25) and supply(23) 14

16 Drivers of Demand for and Supply of Energy Efficiency Investments in EU Buildings EEFIG ranking of key drivers affecting demand and supply of energy efficiency investment by market segment Demand Supply All Financial Intitutions Only All Financial Intitutions Only 1 Standardization 1 Buildings Regulation, Labeling and Energy Performance Certificates 1 Standardization 1 Regulatory Stability 2 Clear Business Case 2 Clear Business Case 2 Regulatory Stability 2 Standardization 3 Effective enforcement of regulation 3 Standardization 3 Increased Investor Confidence & Change in Risk Perception 3 Use of MFF structural funds 4 Awareness at Key Decision Maker Level & Leadership 4 Transaction costs / simplicity 4 Transaction costs / simplicity 4 Measurement, Reporting & Verification (MRV) and Quality Assurance 15 5 Buildings Regulation, Labeling and Energy Performance Certificates 5 Effective enforcement of regulation 5 Measurement, Reporting & Verification (MRV) and Quality Assurance 5 Transaction costs / simplicity

17 Recommendations and Conclusions Summary of EEFIG Recommendations: 1 Thefullbenefitsofenergyefficientrefurbishmentsofbuildingsmustbecapturedandwell-articulated, with evidence, and as a priority, to key financial decision makers(public authorities, buildings owners and managers and for householders) 2 ProcessesandStandardsforEnergyPerformanceCertificates,EnergyCodesandtheirEnforcement need to be strengthened and improved 3 Itmustbeeasytogettherightdatatotherightdecisionmakers 4 Standardsshouldbedevelopedforeachelementintheenergyefficiencyinvestmentprocess 5 Priority and appropriate use of EU Structural and Investment Funds and ETS revenues through public-private financial instruments from will boost investment volumes and help accelerate the engagement of private sector finance through scaled risk-sharing 16

18 Recommendations and Conclusions Recommendations and conclusions to Policy Makers: Existing Buildings Regulations should be fully implemented, harmonized and consistently enforced across EU Member States Future Regulatory Pathways for EU Buildings should provide concerted and consistent regulatory pressure to improve buildings efficiency: High quality decisions and low transaction costs can only be delivered by easily accessible data and standard procedures Reporting, accounting and procurement procedures must facilitate, and not hinder, appropriate energy efficiency investments in public buildings The at-scale energy efficiency upgrade of residential buildings can only happen with a concerted address of the specific investment demand and supply drivers of this segment and the engagement and alignment of retail distribution channels The targeted address of energy efficiency investment supply and technical assistance through the smart deployment of Structural and Investment Funds and Horizon

19 Recommendations and Conclusions What should the European Commission/ EU do? Ensure effective transpositions of the existing EU Directives and effective local enforcement procedures regarding energy performance in buildings(incl performance certification) Deliver regulatory stability for EE investment in building by providing long term regulatory visibility re energy efficiency especially in the context of the 2030 Climate and Energy package Address the need for high quality buildings performance data and standards through Commission support of best practice policies and initiatives within Member States Initiate process to remove accounting, reporting and procurement hurdles for investment in energy efficiency investments; create standard procurement procedures for EU public buildings Benchmark and compare relative success of retail residential Energy Efficiency investment programmes in the Member States to ensure sharing and replication of standards and best practices Ensure that MS connect the funding streams for national Buildings Renovation Roadmap(EED Art. 4) with financial instruments available in the context of structural funds/horizon 2020 to support energy efficiency, funds deriving from Energy Efficiency Obligation Schemes(Art. 7 EED) and funds from ETS 18

20 Links for more information This report can be downloaded at: ec.europa.eu/energy/efficiency/studies/doc/2014_fig_how_drive_finance_for_economy.pd Commissionwebsiteonenergystrategy: Pleasedirectyourcommentsto: This document has been prepared for the European Commission by the members of the Energy Efficiency Financial Institutions Group ( EEFIG ) as listed herein. The views and opinions expressed herein are wholly those of the EEFIG group reached by consensus at the time of writing and do not necessarily reflect those of the Commission, the institutions which EEFIG members represent nor are necessarily fully those of the individual members of the group. These views and opinions are subject to change without notice. The EEFIG, The Commission, Climate Strategy nor any individual member of EEFIG can be held responsible for any use which may be made of the information contained herein. In addition, the examples and case studies described in this document represent the views of the members of EEFIG and are based on information gathered by these members; the references used to develop these illustrative examples (and which are quoted in this study) should always be considered as the most accurate and complete source of information. 19

21 Part 3: Financial Instruments in the Context of European Structural and Investment Funds

22 Financial Instruments in EU Terminology Definition Union measures of financial support provided on a complementary basis from the budget in order to address one or more specific policy objectives of the Union. Such instruments may take the form of: equity or quasi equity investment, loans or guarantees, or other risk sharing instruments, and may, where appropriate, be combined with grants. * Regulation 966/2012, Title I of Part One. Art. 2 (p) (own accentuation) Essential Requirements 1. Should focus on situations of market failure and imperfect market conditions (ie where projects that are principally bankable receive no funding because they are perceived to be too risky) 2. Should not crowd out private finance * Regulation 966/2012, Title I of Part One. Art. 140 (2) 21

23 , Lessons learnt Positive Negative Need for + Leverage of private finance, positive effects on access to finance during financial crisis + Additional levers for EU policy objectives + Provision of experts skills capacity building across governance scales + Revolving funds improve the quality of projects and fiscal discipline - Inconsistencies and overlaps - Concerns about the additionality of actions (deadweight situations) - Lack of capacity and resistance due to perceived complexity and difficulty - Lack of information, visibility and acceptance need for cultural change underestimated 1.Clear, coherent regulatory framework 2.Fewer instruments with streamlined and simplified implementation modalities 3.Greater visibility and transparency 4.New risk-sharing agreements to leverage higher finance volumes Financial instruments are no silver-bullet 22

24 CZ Lessons Learned: Czech Republic Green Investment Fund Overview Between 2009 and 2012 the Czech Republic invested about 550m ($710m) in the Green Investment Scheme which provides grants covering up to 50 percent of residential insulation costs A new Green Investment Scheme was launched in January 2013 ( period) 70 percent of the overall volume of funds is earmarked for the comprehensive refurbishment of private buildings, Results as of ,000 houses improved CO 2 emission reduction of 1.1 Mt annually Energy savings 6.3 PJ (1.75 TWh) annually 3.7 PJ (1 TWh) heat generated from renewable sources 2.2 kt reduction in fine particle matter 30,000 jobs created or retained and the remaining 30 percent will be used for public service buildings 23

25 Potential Buildings Investment Funds from ESIF an estimated CZK bn p.a. Program Name Green Savings program (for SFH, source: EU ETS revenues) Estimated Allocation bn CZK (?) OP Environment (for public buildings, schools, etc.) 14 OP Enterprise, Innovation, Competitiveness (for industrial, commercial buildings) total allocation 20, perhaps 10 into buildings Integrated regional OP (for MFH) 17 OP Prague (for public buildings in Prague) 1 TOTAL CZK bn

26 Buildings Stakeholders see the Engagement of Private Sector Finance as KEY to deliver x4.5-6 leverage To renovate CZ buildings over 40 years requires leverage of public funds of between x 4.5 (recommended) up to x 6 (Passiv) Standards Investment for Renovation (Euro billions) x4.5 x6 PUBLIC FUNDS RECOMMENDED PASSIV Residential Tertiary Source: Chance for Buildings Renovation Strategy April

27 Clearly, Different FIs are needed for Different Market Segments Define the types of final recipients Private Public Households Companies Administration buildings (e.g. local, regional national authorities) Housing (e.g. social housing) Other public buildings (e.g. schools, hospitals) Multi-apartment buildings Small building / houses Optimal financing instruments Preferential loans Renovation loan Grants + loans Guarantees Preferential loans Grants + loans Guarantees Preferential loans Guarantees Equity EPC Preferential loans Guarantees Equity EPC Preferential loans Grants + loans Preferential loans Guarantees Equity EPC Project examples KredEX (Estonia) Jessica Fund (Lithuania) REECL (Bulgaria) Retrofit South East (UK) SlovSEFF (Slovakia) Enegies POSIT IF (France) CEEF (Hungary KfW (Germany) REECL (Bulgaria) CEEF (Hungary) BgEEF (Bulgaria) SlovSEFF (Slovakia) FIDAE (Spain) CEEF (Hungary) EESF (Bulgaria) Re:FIT (UK) BgEEF (Bulgaria) REDIBA (Spain) ELENA Modena EESF (Bulgaria) Use of ERDF for social housing, France Re:FIT (UK) BgEEF (Bulgaria) EESF (Bulgaria) 26

28 And while some of the Barriers are Financial others are lack of drivers in some Market Segments WhiletheEUpolicy contextiscreating stronglegislative driversforaction,a largenumberof barriersexisttose financing in buildings 2 3 Particular Barriers Affecting the Renovation Market in Regions / Countries 1 Financial Barriers Institutional and administrative barriers Information and awareness barriers Limited access to finance, high upfront costs, relatively long pay back periods, higher perceived credit risk associated with SE investments, and competing priorities for property owners Such as regulatory and planning issues, and Complexities due to the variety of stakeholders involved Due a general lack of understanding and expertise regarding SE Financing and its benefits amongst the various players (MAs, financial institutions, public and private final recipients) 4 The issue known Distribution as the Channels and split incentive Partners facing landlords and their tenants as well as other investors and which leads to a disconnect between those making the investment and those benefiting from the energy savings 27

29 Member State Process Steps for Engagement same for Rejuvenating Examples: Identify which projects and therefore stakeholders are likely to benefit from ESIF finance Identify the core communication issues and processes Engage Thoughtleaders in the Development of Solutions Ensure that Sector Solutions which can be funded by ESIF are well researched Note the differences between ex-ante assessments and EED processes Buildings Refurbishments (by segment): Stakeholders: Regional Housing Authorities, Refurbishment teams inside Construction Companies, Installers, Buildings Owners, ESCOs etc Which have been highlight by prior EE-funds or past experience and ensure NGO community is onpoint and taking an interest in new ESIF design. and their pro-active Engagement in ESIF FI design and (ideally) proven in practice. The ex-ante assessment may identify a huge market for EE renovation in Buildings but the OP may not dedicate appropriate funds to address it. 28

30 Most Successful EE Funds take many iterations to work well: CZ is already in this process There is no right answer for ESIF and what is right in one country can at best serve as a guide for others requiring much tailoring and adjustment to fit a different market ESIF FI strategy for the MS: High Level Position/ Messaging Context NEEF Goals and Outcomes: Financial Product Distribution Channels and Partners What are the target political and physical outcomes targeted by the FI and how do these fit the national MS context. Describe the investment climate in the market segment at which the NEEF is targeted and what the gap is that FI fills. What does success for the FI look like and what does that mean in terms which stakeholders can understand (political objectives met, business objectives met, client objectives met). What financial product(s) does the Fund offer? How will the ESIF FI build its pipeline and connect to its end-clients? 29

31 Structural Components of National Funds for Buildings Renovation Mix & Match Alternative Finance Structure Example 30

32 General Conditions of Off the Shelf Financial Instruments for for MFH Draft Outline of Off-the-Shelf FIs and the Renovation Loan (from July 2013 Draft Standard T&Cs) Easier to Execute FI = Off-the-Shelf The off-the-shelf instruments are designed using the limits imposed by the different regulations, in particular state aid; If the MA wants to set-up an instrument with different conditions, it has to be tailor made and the MA has to check if it is done accordingly with different regulations; Considered as a good starting point to develop other financial instruments and approaches. Five initial off-the-shelf Financial Instruments: 1. Loan for SMEs based on a portfolio risk sharing loan model ( RS Loan ) 2. Guarantee for SMEs (a partial first loss portfolio or Capped guarantee ) 3. Equity Investment fund for SMEs and start-up companies based on a co-investment model ( Co-investment Facility ) 4. Loan for energy efficiency and renewable energies in the residential building sector ( Renovation Loan ) 5. Loan for sustainable Urban Development ( UD Fund ). 31

33 Introduction to the Renovation Loan OTS FI for Multi- Apartment Buildings Draft Outline of Off-the-Shelf FIs and the Renovation Loan (from July 2013 Draft Standard T&Cs) Grants Financial Instruments Renovation Loan: An FI made available by the MA in the framework of the operation which is part of the priority axis defined in the programme funded by the ESIF and defined in the context of an ex-ante assessment: FIs at EU level FI at national / regional level Primarily aimed at multi-apartment buildings Complementary grant assistance; Off-the-shelf Customized Long term subsidised loan conditions; and/or Upfront advisory support and funding to prepare and implement full envelope building renovations. H2020 / COSME Renovation loan Preferential loans Credit guarantees Assumes two key conditions in Member State: A financing market in which banks are essentially the only source of funding, but where this funding is either too little, too short term, too costly or otherwise inappropriate for the long term payback nature of the projects being financed; Equity An inefficient system of identifying and procuring the works on behalf of multiple apartment owners; 32

34 Some of the Observed Success Factors among existing FIs Successful Energy Efficiency Funds for Buildings Renovation have certain common characteristics which are listed here: Success Factors: Tailored FI for Market Segment Integrated and Local Targeted Marketing Swift and Easy one stop Broad Distribution Specific FI designed for a particular, well identified market segment (eg. Low income, Multi-family Apartments in blocks) needs LT, low interest plus grant Local marketing with well trained Energy auditors, licensed to discuss integrated finance package and using peer-to-peer techniques based upon local culture. Whole renovation and finance provided in a one stop swift and easy process without delay/ large amounts of paperwork. Strong connection to local Energy Auditor networks. Multiple and broad distribution channels through networks directly connected to and near the targeted communities and owners. 5 Long-term Commitment and Visibility Market demand takes time to build-up and takes time. Multiannual commitments with sufficient funding is necessary. 33

35 Part 4: Establish a Common Diagnosis and Solution Set and Q&A for CZ

36 Example: Estonia s KfW the KredEx Revolving Fund Estonian Housing Stock - Overview 75% population lives in multi apartment buildings These are of low quality and low energy efficiency Buildings account for 40% of energy use Average energy consumption per year in buildings which have not been renovated kwh/m 2 KredEX Financial Measures Grants From state From municipalities Low interest rate loan Beneficiaries can combine the measures ERDF to fund equity 17,7 mio Fund 72 mio Favorable funding to the commercial banks State guarantee CEB loan 28,8 mio State loan 16 mio KredEx funds 9,5 mio Credit from Fund to the Bank Credit to 2 banks Maturity: 20 years Annuity loan Maximum limit of risk margin for Banks Terms for credit to multi-apartment buildings Fixed interest rate for end-beneficiaries Bank is responsible for credit risk of multi-apartment buildings 35 EE loan to HOA, Commercial bank takes the risk of lenders

37 KredEx Revolving Fund Multi-family dwelling targets with Loan + Grant & Guarantees Renovation Loan Multi-apartment buildings: at least 3 apartments Main purpose - energy efficiency (at least 20% energy saving for the buildings up to 2000 m² or 30% for bigger buildings) Self-financing 15% (grant or own funds or loan) Energy audit is obligatory, renovation according to energy audit Supervisory is obligatory Loan maturity: up to 20 years Interest: from 2013 ~ 3,5%, before up to 4,5% fixed for 10 years, average 4% No collateral is needed, credit against cash flow Grant for Reconstruction Fund for the grant from Green Investment Scheme (selling AAU) An Assigned Amount Unit (AAU) is a tradable 'Kyoto unit' or 'carbon credit' representing an allowance to emit greenhouse gases comprising one metric tons of carbon dioxide equivalents calculated using their Global Warming Potential In total 30 million ~ 140 million for investment Goal is to renovate multi-apartment buildings completely, to achieve: energy saving from heating costs, considering all requirements for indoor climate Achieve higher energy class To increase use of renewable energy Decision by buildings: at least 50% +1 one owner at general assemble, decision with simple majority 36

38 Estonia Good results from small beginnings Results combined as of buildings, apartments, inhabitants Ca m² (6,7% from total ap. m²) Total 49 mio credit, 20,8 mio grant Investment 87,2 mio, average Expected saving 39%, 75 GWh per year (1 year production of Kuressaare Soojus) Expected saving 20 years GWh 390 renovated, ca 110 in process Changes in behavior: From single works to complex renovation Heating costs are measured by apartments 37

39 Further Details on the Structure of an OTS Renovation Loan Draft Outline of Off-the-Shelf FIs and the Renovation Loan (from July 2013 Draft Standard T&Cs) Long term, low interest funding provided using European Structural and Investment Funds (ESIF), with an appropriate level of risk sharing by the financial intermediary determined through a competitive process and provided in the form of a shared loss component; Hands-off Management: MA represented in supervisory committee of the Renovation Loan but not participating directly in individual decisions. Transparency and Market Practice: Renovation Loan shall have a governance structure that allows for decisions concerning credit and risk diversification to be made transparently and in line with relevant market practice. Can be used together with grants assuming final beneficiary benefits. 38

40 What discussion topics result? Ensuring EE is adequately supported within the context of EU Structural & Investment Funding under Thematic Objective 4; Questions regarding an Ex-Ante Assessment for the use of Financial Instruments; Models which work, and some which may not in the local context; Identify the most active success features of existing energy efficiency investment programmes; Work to build confidence and capacity in energy efficiency investments at managing authority level; Focus on optimal Energy Efficiency and Energy Savings Criteria as opposed to Minimum Standard Start where it s easier and build-up 39

41 Contact Climate This document has been prepared for specific use and should not be published or circulated outside of its intended audience. The facts and figures are derived from public sources and have not been independently verified by Climate Strategy who provides no guarantees for its accuracy nor completeness nor will assume any liabilities for such arising from any third party use of the contents. Any opinions in this document constitute the present opinion of Climate Strategy which is subject to change without notice. There are no financial services marketed here nor intended as promoted herein. Please refer to website for further information. Climate Strategy Headquarters Climate Strategy SL Calle Oretga y Gasset, 25, Planta Baja Madrid SPAIN Tel local: Tel UK: +44 (0) Fax: Follow us on 40

Energy Efficiency the first fuel for the EU Economy

Energy Efficiency the first fuel for the EU Economy Energy Efficiency the first fuel for the EU Economy Mobilizing Investments for the Energy Transition: How to drive new finance for energy efficiency investments Slides from EEFIG Report - Covering Buildings

More information

Innovative Finance Mechanisms for Energy Efficient in Buildings: Finance Models from Europe, USA and Spain Compared

Innovative Finance Mechanisms for Energy Efficient in Buildings: Finance Models from Europe, USA and Spain Compared Innovative Finance Mechanisms for Energy Efficient in Buildings: Finance Models from Europe, USA and Spain Compared Presentation Prepared for and Hosted by : Peter Sweatman, Chief Executive @ClimateSt

More information

Financing the. Commission DG Energy

Financing the. Commission DG Energy TECHNICAL GUIDANCE Financing the energy renovation of buildings with Cohesion Policy funding f FINAL REPORT A study prepared for the European Commission DG Energy This study was carried out for f the European

More information

EXAMPLES OF SUCCESSFUL POLICY TOOLS FOR EMISSION REDUCTION

EXAMPLES OF SUCCESSFUL POLICY TOOLS FOR EMISSION REDUCTION Submission of the United Nations Environment Programme (UNEP) Sustainable Building Initiative (SBCI) to the Ad Hoc Working Group on Long-Term Cooperative Action under the Convention (AWG-LCA) 24 April

More information

Leveraging EU Funds with the Market Financing Instruments for Energy Efficiency at EU / National Level

Leveraging EU Funds with the Market Financing Instruments for Energy Efficiency at EU / National Level Leveraging EU Funds with the Market Financing Instruments for Energy Efficiency at EU / National Level Johannes Feist, KfW European Parliament, Brussels, 4 October 2011 Leveraging EU Funds with the Market

More information

Fabio Travagliati European Policies and Managing Authority ERDF and ESF Marche Region

Fabio Travagliati European Policies and Managing Authority ERDF and ESF Marche Region MARTE project Marche Region Technical assistance for healthcare buildings Energy retrofit IEE/13/465 Energy Fund: Working group and first steps Fabio Travagliati European Policies and Managing Authority

More information

EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments

EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments EIB and the Energy Sector: Potential Synergies with the MED Programme to Support Energy Efficiency Investments Marina Galindo Energy Efficiency and Small Energies Division Projects Directorate EUROPEAN

More information

European Experience with ESCO financing

European Experience with ESCO financing 1 European Experience with ESCO financing Energy Performance Contracting Alexandra Langenheld European Commission Joint Research Centre (JRC) Institute for Energy http://re.jrc.ec.europa.eu/energyefficiency

More information

Energy Efficiency Review v. 12

Energy Efficiency Review v. 12 Energy Efficiency Review v. 12 0 1. INTRODUCTION At any time, and all the more so now as the Union is just beginning to emerge from the economic and financial crisis that began in 2008, growth and jobs

More information

Energy Efficiency Review v. 12

Energy Efficiency Review v. 12 Energy Efficiency Review v. 12 1 1. INTRODUCTION At any time, and all the more so now as the Union is just beginning to emerge from the economic and financial crisis that began in 2008, growth and jobs

More information

Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013

Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013 Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013 Finance session objectives Appreciate the scale of energy

More information

PROMOTION OF ENERGY EFFICIENCY THROUGH THE HOUSING MODERNISATION IN LITHUANIA

PROMOTION OF ENERGY EFFICIENCY THROUGH THE HOUSING MODERNISATION IN LITHUANIA PROMOTION OF ENERGY EFFICIENCY THROUGH THE HOUSING MODERNISATION IN LITHUANIA Daiva Matonienė Vice-Minister Ministry of Environment Vilnius, Lithuania September,2013 RESIDENTIAL ENERGY EFFICIENCY 2 Lithuania

More information

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020)

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Jean-David MALO European Commission - DG Research and Innovation Head of Unit RTD C-03 Financial Engineering

More information

ENERGY EFFICIENCY POLICIES IN BUILDINGS THE USE OF FINANCIAL INSTRUMENTS AT MEMBER STATE LEVEL

ENERGY EFFICIENCY POLICIES IN BUILDINGS THE USE OF FINANCIAL INSTRUMENTS AT MEMBER STATE LEVEL ENERGY EFFICIENCY POLICIES IN BUILDINGS THE USE OF FINANCIAL INSTRUMENTS AT MEMBER STATE LEVEL Authors Joana Maio Silvia Zinetti Rod Janssen Graphic Design Lies Verheyen - Mazout.nu Published in August

More information

Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020. MADRID, 7 November 2013

Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020. MADRID, 7 November 2013 Financial Instruments supported by the European Structural and Investment (ESI) Funds in 2014-2020 MADRID, 7 November 2013 Financial instruments and IFI Relations Directorate-General for and Urban 1 Contents

More information

Practicalities of designing, structuring and implementing Financial Instruments

Practicalities of designing, structuring and implementing Financial Instruments Practicalities of designing, structuring and implementing Financial Instruments 1 Key success factors in designing financial instruments Design it from the ground up 2 Key success factors in designing

More information

EnPC/ESCO in Romania (public buildings and public lighting)

EnPC/ESCO in Romania (public buildings and public lighting) EnPC/ESCO in Romania (public buildings and public lighting) Dana Ionescu EBRD Bogdan Anton Tractebel Engineering 17 November 2014 Content: EU Context Romanian Context Benefits of EnPC / ESCO EBRD specific

More information

22 November 2012, Madrid

22 November 2012, Madrid 22 November 2012, Madrid 1. Introduction on EIF Introduction on EIF 2 / 21 Introduction on EIF EIF at a Glance 1. Introduction on EIF EU specialised institution for SMEs, risk financing Venture Capital

More information

Promoting Economic and Social Cohesion in Europe

Promoting Economic and Social Cohesion in Europe Promoting Economic and Social Cohesion in Europe The EIB helps to deliver growth, jobs and cohesion in Europe by supporting the implementation of EU regional policy. Through a mixture of loans and advisory

More information

eeef - European Energy Efficiency Fund

eeef - European Energy Efficiency Fund eeef - European Energy Efficiency Fund Agenda 1 2 3 Introduction to eeef Eligibility check for projects Technical Assistance 4 Potential project structures 5 Case Studies 2 eeef at a glance Objective Beneficiaries

More information

EU Regional Blending Facilities and Private Sector Investments

EU Regional Blending Facilities and Private Sector Investments EU Regional Blending Facilities and Private Sector Investments Innovative Development Finance Workshop Margareta McConnell 8 May 2015 EU Regional Blending Facilities 2 Potential Sources of Private Finance

More information

HORIZON 2020. Energy Efficiency and market uptake of energy innovations. Linn Johnsen DG ENER C3 Policy Officer

HORIZON 2020. Energy Efficiency and market uptake of energy innovations. Linn Johnsen DG ENER C3 Policy Officer THE EU FRAMEWORK PROGRAMME FOR RESEARCH AND INNOVATION HORIZON 2020 Energy Efficiency and market uptake of energy innovations Linn Johnsen DG ENER C3 Policy Officer EU 2020 Targets Energy Efficiency Energy

More information

Comments of PU Europe on the Energy Efficiency Plan 2011 Commission Communication COM(2011) 109 final

Comments of PU Europe on the Energy Efficiency Plan 2011 Commission Communication COM(2011) 109 final Comments of PU Europe on the Energy Efficiency Plan 2011 Commission Communication COM(2011) 109 final PU Europe is the European association representing the polyurethane insulation industry (PUR/PIR).

More information

EU Heating and Cooling Strategy

EU Heating and Cooling Strategy EU Heating and Cooling Strategy March 2016 Unit Energy Efficiency DG ENER European Commission EU Strategy for Heating and Cooling One of the actions under the Energy Union Strategic Framework and Roadmap

More information

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Access to finance for SMEs István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Why EU intervention needed? EU financial instruments for SMEs Building on success

More information

Guidance for the financial sector: Scope 3 accounting and reporting of greenhouse gas emissions. Summary of Scoping Workshop

Guidance for the financial sector: Scope 3 accounting and reporting of greenhouse gas emissions. Summary of Scoping Workshop Guidance for the financial sector: Scope 3 accounting and reporting of greenhouse gas emissions Summary of Scoping Workshop Hosted by JPMorgan Chase, New York, February 25, 2013 Table of Contents Introduction...

More information

ELENA. A new KfW-Facility in favour of sustainable investments of small and medium sized municipalities. Dr. Johannes Feist Berlin

ELENA. A new KfW-Facility in favour of sustainable investments of small and medium sized municipalities. Dr. Johannes Feist Berlin A new KfW-Facility in favour of sustainable investments of small and medium sized municipalities Dr. Johannes Feist Berlin Objective of the Facility ELENA: a IEE (Intelligent Energy Europe II) technical

More information

AXA INVESTMENT MANAGERS

AXA INVESTMENT MANAGERS AXA INVESTMENT MANAGERS Entering a new phase of growth Investor Day November 20, 2014 Andrea ROSSI CEO AXA Investment Managers Member of the AXA Group Executive Committee Certain statements contained herein

More information

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens.

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens. 1 Entrepreneurship is about two things. It means, of course, fostering the creation of new start-ups. But entrepreneurship refers also to a mindset, that should be stimulated at each stage of a company

More information

Brussels, 6 November 2014. Rüdiger Lohse / Alexander Zhivov Co- Operating Agents Annex 61

Brussels, 6 November 2014. Rüdiger Lohse / Alexander Zhivov Co- Operating Agents Annex 61 Business and Technical Concepts for Deep Energy Retrofits of Public Buildings: Findings from IEA- EBC- Annex 61 Investing into Energy Efficiency Projects: why and how? Brussels Brussels, 6 November 2014

More information

COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document

COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document EUROPEAN COMMISSION Brussels, 22.6.2011 SEC(2011) 780 final COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document DIRECTIVE OF THE EUROPEAN PARLIAMENT AND

More information

COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL

COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL EUROPEAN COMMISSION Brussels, 23.7.2014 COM(2014) 520 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL Energy Efficiency and its contribution to energy security and the

More information

EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE

EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE Access to finance is key to business development. Investment and innovation are not possible without adequate financing. A difficulty in getting finance

More information

Policies to enforce the transition to nezeh

Policies to enforce the transition to nezeh Policies to enforce the transition to nezeh Theocharis Tsoutsos, Professor Technical University of Crete SUSTAINABLE AND COMPETITIVE HOTELS THROUGH ENERGY INNOVATION - NEZEH 2015 L'INNOVATION ÉNERGÉTIQUE

More information

Financing Options for Public and Residential Buildings. Scaling up EE in Buildings In the Western Balkans

Financing Options for Public and Residential Buildings. Scaling up EE in Buildings In the Western Balkans Financing Options for Public and Residential Buildings 1 Public Sector 2 Public Sector Energy Efficiency Potential Note : Includes schools and hospitals only COUNTRY Potential Energy Savings Investment

More information

EU Finance for Innovators and Growth Companies in Poland. Warsaw, Thursday 6 November 2014

EU Finance for Innovators and Growth Companies in Poland. Warsaw, Thursday 6 November 2014 EU Finance for Innovators and Growth Companies in Poland Warsaw, Thursday 6 November 2014 Welcome addresses László Baranyay, Vice-President, EIB Krzysztof Pietraszkiewicz, President, Polish Bank Association,

More information

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF )

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Dear LEP Representative As you consider the options for an ESIF-backed Financial Instruments

More information

SESSION VI: CLIMATE CHANGE AND ENERGY EFFICIENCY POLICIES

SESSION VI: CLIMATE CHANGE AND ENERGY EFFICIENCY POLICIES SESSION VI: CLIMATE CHANGE AND ENERGY EFFICIENCY POLICIES A European regulator s perspective Valeria Termini*, co-moderator *Commissioner of the Regulatory Authority for Electricity and Gas Italy Member

More information

the EU framework programme for research and innovation

the EU framework programme for research and innovation the EU framework programme for research and innovation The Multiannual Financial Framework 2014-2020: Commission s proposals of 29 June 2011 1. Smart & inclusive growth ( 491bn) Education, Youth, Sport

More information

Re: FEE responds to the public consultation on the Small Business Act

Re: FEE responds to the public consultation on the Small Business Act DG Enterprise and Industry, Unit D.4 SME Policy development and Small Business Act Sent via e-mail: ENTR-SBA@ec.europa.eu 16 December 2014 Re: FEE responds to the public consultation on the Small Business

More information

Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency

Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency RENEWABLE ENERGY INDUSTRIAL ENERGY EFFICIENCY BUILDING ENERGY EFFICIENCY Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency A RANGE OF FINANCIAL SUPPORT

More information

EU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3

EU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3 Working Party on Latin America and the Caribbean (COLAC) m.d. : 90/15 source : EEAS for : Information date : 29-04 - 2015 EU-CELAC Business Summit eucelac-bizsummit2015.eu Wednesday 10 th June 2015, 14:30-16:30

More information

Financing renewable energies. The role of the banking sector

Financing renewable energies. The role of the banking sector Financing renewable energies The role of the banking sector Milan, 20 June 2014 UniCredit at a glance Key figures (March 2014) UniCredit is a leading European commercial bank with an international network,

More information

White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose?

White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose? White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose? Dr. Xiaodong Wang, EASCS September 11, 2013 Structure of the Presentation Context: Chinese government s commitment

More information

Allianz offers customers an increasing number of Green Solutions

Allianz offers customers an increasing number of Green Solutions Allianz offers customers an increasing number of Green Solutions page 1/5 Climate change is mainly caused by human-activity induced (anthropogenic) global warming and poses a major challenge to the global

More information

Introduction to the London Energy Efficiency Fund (LEEF)

Introduction to the London Energy Efficiency Fund (LEEF) Executive Summary Introduction to the London Energy Efficiency Fund (LEEF) 1. The London Green Fund (LGF) is a 100m Fund comprising of 50m from the London 2007-13 European Regional Development Fund (ERDF)

More information

EU Finance for Innovators in the Nordics. Oslo, Thursday 11 December 2014

EU Finance for Innovators in the Nordics. Oslo, Thursday 11 December 2014 EU Finance for Innovators in the Nordics Oslo, Thursday 11 December 2014 Welcome addresses Dilek Ayhan State Secretary, Norwegian Ministry of Trade, Industry and Fisheries Helen Campbell EU Ambassador

More information

Energy Performance Contract Financing as a Strategy:

Energy Performance Contract Financing as a Strategy: COMMERCIAL BANKING Energy Performance Contract Financing as a Strategy: Transforming Healthcare Facilities Maintenance 2 Energy Performance Contract Financing as a Strategy: Transforming Healthcare Facilities

More information

DIVISION ON TECHNOLOGY INDUSTRY AND ECONOMICS Energy Branch Renewable Energy and Finance Unit THE BALKAN RENEWABLE ENERGY PROGRAMME (BALREP)

DIVISION ON TECHNOLOGY INDUSTRY AND ECONOMICS Energy Branch Renewable Energy and Finance Unit THE BALKAN RENEWABLE ENERGY PROGRAMME (BALREP) DIVISION ON TECHNOLOGY INDUSTRY AND ECONOMICS Energy Branch Renewable Energy and Finance Unit THE BALKAN RENEWABLE ENERGY PROGRAMME (BALREP) Call for Proposals Evaluation of Concepts for the Implementation

More information

Driving New Finance for Energy Efficiency Investments

Driving New Finance for Energy Efficiency Investments Institutional Investors Group on Climate Change Driving New Finance for Energy Efficiency Investments Summary for Institutional Investors of the work of the Energy Efficiency Financial Institutions Group

More information

ECOFUNDING PROJECT. Polona Lah JSI EEC Portorož, 21.5.2015. Jozef Stefan Institute ENERGY EFFICIENCY CENTRE

ECOFUNDING PROJECT. Polona Lah JSI EEC Portorož, 21.5.2015. Jozef Stefan Institute ENERGY EFFICIENCY CENTRE ECOFUNDING PROJECT Polona Lah JSI EEC Portorož, 21.5.2015 The story goes Access to finance; a critical point to SMEs to maintain competitiveness 2013 SMEs Access to Finance survey Barriers and SMEs: 1.

More information

EU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3

EU-CELAC Business Summit eucelac-bizsummit2015.eu. Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3 EU-CELAC Business Summit eucelac-bizsummit2015.eu Wednesday 10 th June 2015, 14:30-16:30 Concept Note for Workshop 3 Access to finance and financial instruments The important role of Small and Medium-sized

More information

FROM BILLIONS TO TRILLIONS:

FROM BILLIONS TO TRILLIONS: FROM BILLIONS TO TRILLIONS: MDB Contributions to Financing for Development In 2015, the international community is due to agree on a new set of comprehensive and universal sustainable development goals

More information

ELENA Application Form

ELENA Application Form ELENA Application Form The EIB accepts proposals in English and French. For the application of funding under the ELENA facility the following form 1 must be used. Content of ELENA application form: 1.

More information

Public workshop on innovative financing for energy efficiency and renewables. 28 April 2015, Brussels

Public workshop on innovative financing for energy efficiency and renewables. 28 April 2015, Brussels Public workshop on innovative financing for energy efficiency and renewables 28 April 2015, Brussels Up-scaling investments in energy efficiency and renewables is a major challenge to meet the European

More information

15 April 2011 Re: Expansion of the Victorian Energy Efficiency Target

15 April 2011 Re: Expansion of the Victorian Energy Efficiency Target Mr Anthony Williamson Principal Policy Officer, Energy Sector Development Division Department of Primary Industries Email: energysaverincentive@dpi.vic.gov.au 15 April 2011 Re: Expansion of the Victorian

More information

The energy industry and energy price issues in Slovakia during recent years 1

The energy industry and energy price issues in Slovakia during recent years 1 The energy industry and energy price issues in Slovakia during recent years 1 Ing. Mikulá Cár, PhD. National Bank of Slovakia The energy industry and energy prices are becoming a subject of political decisions

More information

Financial instruments in ESIF programmes 2014-2020

Financial instruments in ESIF programmes 2014-2020 DATE Ref. Ares(2014)4149039-10/12/2014 EUROPEAN COMMISSION Financial instruments in ESIF programmes 2014-2020 A short reference guide for managing authorities This short reference guide is designed to

More information

eeef European Energy Efficiency Fund

eeef European Energy Efficiency Fund eeef European Energy Efficiency Fund Agenda 1 introduction to eeef - key elements 2 eeef investments: eligibility, process and project structures 3 Case studies 4 Final Remarks 2 1a eeef at a glance Objective

More information

Future of European Consumer Finance A joint Eurofinas Roland Berger Survey

Future of European Consumer Finance A joint Eurofinas Roland Berger Survey Future of European Consumer Finance A joint Eurofinas Roland Berger Survey Highlights of 1st Edition Cascais 15 October 2015 118 companies participated to the first Eurofinas - Roland Berger Survey - representing

More information

European actions to improve the energy efficiency of buildings. Olli Seppänen, professor Federation of European Heating and Airconditioning

European actions to improve the energy efficiency of buildings. Olli Seppänen, professor Federation of European Heating and Airconditioning European actions to improve the energy efficiency of buildings Olli Seppänen, professor Federation of European Heating and Airconditioning Associations 1 Climate Action: Energy for a Changing World On

More information

Manchester City Council Report for Information. Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012

Manchester City Council Report for Information. Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012 Manchester City Council Report for Information Report To: Subject: Report of: Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012 Access to Finance for Start Up Businesses Interim

More information

CECODHAS HOUSING EUROPE

CECODHAS HOUSING EUROPE CECODHAS HOUSING EUROPE Contribution to the XIX Informal Meeting of EU Housing Ministers 9 th and 10 th December 2013 - Brussels The sustainable financing of housing policies in times of crisis EXECUTIVE

More information

Energy Efficiency in the Public Sector through ESCOs

Energy Efficiency in the Public Sector through ESCOs Energy Efficiency in the Public Sector through ESCOs Steps forward to developing the ESCO market Toivo Miller Energy Efficiency and Climate Change EBRD - London HQ millert@ebrd.com European Bank for Reconstruction

More information

COSME Financial Instruments for SMEs

COSME Financial Instruments for SMEs COSME Financial Instruments for SMEs Stockholm, 4 February 2015 Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) Unit F3: SME Access to Finance Astrid Bartels (Policy

More information

COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document. Proposal for a COUNCIL REGULATION

COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document. Proposal for a COUNCIL REGULATION EUROPEAN COMMISSION Brussels, 10.7.2013 SWD(2013) 258 final COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a COUNCIL REGULATION on the

More information

Innovation and PPP financing: The European Investment Fund

Innovation and PPP financing: The European Investment Fund Innovation and PPP financing: The European Investment Fund Dr. Helmut Kraemer-Eis Head of Research & Market Analysis European Investment Fund UNECE - 12 February 2014 Geneva What is the EIF? As part of

More information

Frequently asked questions

Frequently asked questions Frequently asked questions ENERGY EFFICIENCY - Project Development Assistance Call ID: H2020-EE-2014-4-PDA Topic EE 20: Project Development Assistance (PDA) for innovative bankable and aggregated sustainable

More information

Financial instruments in ESIF programmes 2014-2020

Financial instruments in ESIF programmes 2014-2020 DATE Ref. Ares(2014)2195942-02/07/2014 EUROPEAN COMMISSION Financial instruments in ESIF programmes 2014-2020 A short reference guide for Managing Authorities This short reference guide is designed to

More information

8 October 2015 The evolution of renewable energy integration and the smart grid in Europe: The current situation, challenges and opportunities

8 October 2015 The evolution of renewable energy integration and the smart grid in Europe: The current situation, challenges and opportunities 8 October 2015 The evolution of renewable energy integration and the smart grid in Europe: The current situation, challenges and opportunities Stefano Besseghini CEO & President Luciano Martini T&D Dept.

More information

Financial instruments - opportunities offered by the 2014-2020 framework. Key novelties and Commission guidance Bratislava, 2 October 2015

Financial instruments - opportunities offered by the 2014-2020 framework. Key novelties and Commission guidance Bratislava, 2 October 2015 Financial instruments - opportunities offered by the 2014-2020 framework Key novelties and Commission guidance Bratislava, 2 October 2015 2014-2020 framework Ø Performance oriented legal framework to promote

More information

Long term investment and the role of guarantees in social housing finance

Long term investment and the role of guarantees in social housing finance Long term investment and the role of guarantees in social housing finance Dr. Julie Lawson, Hon. Assoc. Professor AHURI Research Centre, RMIT February 4-5, 2013 UNECE Social Housing Forum Geneva Objectives

More information

General Ex-Ante Conditionalities. Anna-Lena ZADEMACH-SCHWIERZ DG REGIO, E1, Competence Centre Administrative Capacity Building Brussels, Summer 2014

General Ex-Ante Conditionalities. Anna-Lena ZADEMACH-SCHWIERZ DG REGIO, E1, Competence Centre Administrative Capacity Building Brussels, Summer 2014 General Ex-Ante Conditionalities Anna-Lena ZADEMACH-SCHWIERZ DG REGIO, E1, Competence Centre Administrative Capacity Building Brussels, Summer 2014 Contents 1. Overview and purpose of general ex-ante conditionalities

More information

Preparing for Scaled-up Climate Financing: New Business Opportunities for Green Growth

Preparing for Scaled-up Climate Financing: New Business Opportunities for Green Growth SUMMARY WORKSHOP REPORT Preparing for Scaled-up Climate Financing: New Business Opportunities for Green Growth An Asia Low Emission Development Strategies (LEDS) Partnership Workshop on Financing for Green

More information

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014 InnovFin SME Guarantee & COSME Loan Guarantee Workshop Warsaw, 6 November 2014 EIF at a Glance EU specialised institution for SMEs risk financing Debt - Structuring and Guaranteeing portfolios of SME loans/leases

More information

A guide to Energy Services Companies (ESCOs) on how to participate in the Dubai Buildings Retrofit Program

A guide to Energy Services Companies (ESCOs) on how to participate in the Dubai Buildings Retrofit Program A guide to Energy Services Companies (ESCOs) on how to participate in the Dubai Buildings Retrofit Program Version 1.0 Produced by Etihad Energy Services Co. May 2014 Contents Introduction... 3 The Dubai

More information

The Renewable Energy Sector in Cyprus

The Renewable Energy Sector in Cyprus Energie The Renewable Energy Sector in Cyprus Dr. Isabelle Riesenkampff, German Energy Agency (dena) Cologne, 29 November 2010 Conference Solar Industry in the Republic of Cyprus Outline: The Renewable

More information

Energy Efficient Renovation of the EU Building Stock is the Economic Boost the EU Needs

Energy Efficient Renovation of the EU Building Stock is the Economic Boost the EU Needs HUPFAS Event Zagreb 30 th November 2012 Energy Efficient Renovation of the EU Building Stock is the Economic Boost the EU Needs Adrian M Joyce Campaign Director 1 Introduction Why Energy Efficiency? Actions

More information

ANALYSIS OF THE STAKEHOLDER CONSULTATION ON

ANALYSIS OF THE STAKEHOLDER CONSULTATION ON ANALYSIS OF THE STAKEHOLDER CONSULTATION ON Science and Technology, the key to Europe s future: guidelines for future European policy to support research COM(353)2004 DG Research, European Commission,

More information

Alain Schmitt Directorate General for Enterprise October 14 th, 2014

Alain Schmitt Directorate General for Enterprise October 14 th, 2014 Alain Schmitt Directorate General for Enterprise October 14 th, 2014 I. Facts and figures about innovation in France II. Startup financing III. Entrepreneurship culture and ecosystems Worldwide ranking

More information

Public consultation on Building a Capital Markets Union

Public consultation on Building a Capital Markets Union Case Id: 6793f8c7-c6ef-45dd-8987-665fe5775337 Date: 13/05/2015 23:30:38 Public consultation on Building a Capital Markets Union Fields marked with * are mandatory. Introduction The purpose of the Green

More information

European Local Energy Assistance (ELENA) facility

European Local Energy Assistance (ELENA) facility European Local Energy Assistance (ELENA) facility ELENA is a technical assistance facility, providing grants to cities, provinces, regions and entities acting on their behalf, of up-to 90% of eligible

More information

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank

Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank Investment and Investment Finance in Croatia, how can the EIB contribute? Dario Scannapieco and Debora Revoltella European Investment Bank 24 March 2014 Outline EU and Croatia key challenges The Investment

More information

What Are Vendors Looking for in NPP Finance?

What Are Vendors Looking for in NPP Finance? NEA Workshop 19 September 2013 The Role of Electricity Price Stability and Long Term Financing for Nuclear New Build What Are Vendors Looking for in NPP Finance? Jean-Hugues Perréard, Vice President Project

More information

Deutsche Asset & Wealth Management. Environmental & Social Capital

Deutsche Asset & Wealth Management. Environmental & Social Capital Environmental & Social Capital Agenda 1 Introduction to Environmental & Social Capital 2 Investment Manager Mandates: Fund overview 2.1 Africa Agriculture and Trade Investment Fund 2.2 European Energy

More information

ESCO Financing. State of Israel Ministry of National Infrastructure. Pierre Baillargeon. March 2007 ECONOLER INTERNATIONAL

ESCO Financing. State of Israel Ministry of National Infrastructure. Pierre Baillargeon. March 2007 ECONOLER INTERNATIONAL ESCO Financing State of Israel Ministry of National Infrastructure Pierre Baillargeon March 2007 Agenda Evaluation of the EE market Introduction to the ESCO concept Introduction to performance contracts

More information

Energy Service Companies and Financing. David Morgado Energy Analyst Energy Efficiency in Emerging Economies

Energy Service Companies and Financing. David Morgado Energy Analyst Energy Efficiency in Emerging Economies Energy Service Companies and Financing David Morgado Energy Analyst Energy Efficiency in Emerging Economies Topics What are Energy Service Companies (ESCOs)? Why are ESCOs important? Energy Performance

More information

Financing energy efficiency through grants lessons learned in Austria

Financing energy efficiency through grants lessons learned in Austria Financing energy efficiency through grants lessons learned in Austria FINANCING ENERGY EFFICIENCY FUNDING OPORTUNITIES, INSTITUTIONAL MODELS AND SUCCESFUL PRACTICES Wolfgang Diernhofer 1 Contents Introduction

More information

How are energy companies adapting to the changing rules in the energy sector? Jaroslav Zlabek Country President Schneider Electric Polska

How are energy companies adapting to the changing rules in the energy sector? Jaroslav Zlabek Country President Schneider Electric Polska How are energy companies adapting to the changing rules in the energy sector? Jaroslav Zlabek Country President Schneider Electric Polska Sopot November, 2011 the energy challenges today 2 The solution

More information

Shifting sands the UK market for low carbon B2B offerings may never be the same again

Shifting sands the UK market for low carbon B2B offerings may never be the same again Shifting sands the UK market for low carbon B2B offerings may never be the same again White Paper June 2015 Contact: Michael Brown michael.brown@delta-ee.com +44 131 466 5544 Dina Darshini dina.darshini@delta-ee.com

More information

Green Bonds: financing the development of low carbon & climate resilient cities

Green Bonds: financing the development of low carbon & climate resilient cities Green Bonds: financing the development of low carbon & climate resilient cities Bringing solutions to capital Investment required $2.6tn+ p.a. $2tn+ p.a. IEA: Investment, not cost! Discovery Risk-Bridging

More information

European judicial training 2014. Justice

European judicial training 2014. Justice European judicial training 2014 Justice Europe Direct is a service to help you find answers to your questions about the European Union. Freephone number (*): 00 800 6 7 8 9 10 11 (*) Certain mobile telephone

More information

Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation

Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation 27th November, 2013 Agenda Introduction Backdrop: bank lending to companies in Germany, France, UK, Italy and Spain Policymakers

More information

Position Paper. April 2012

Position Paper. April 2012 Position Paper April 2012 On draft Regulation of the European Parliament and of the Council establishing a Programme for the Competitiveness of Enterprises and small and medium-sized enterprises (2014-2020)

More information

Strengthening Investment, Advancing Europe

Strengthening Investment, Advancing Europe Strengthening Investment, Advancing Europe As the world s largest trading block, a prosperous Europe is essential for the health of the global economy. One of the key drivers of economic growth and job

More information

EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT

EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT EUROPE 2020 TARGETS: RESEARCH AND DEVELOPMENT Research, development and innovation are key policy components of the EU strategy for economic growth: Europe 2020. By fostering market take-up of new, innovative

More information

British Business Bank

British Business Bank British Business Bank Peter Wilson CEO British Business Bank Investments ABFA Annual Conference 3 June 2015 Contents Overview of the British Business Bank Rationale Business Model Aims Programmes Impact

More information

Accessing finance. Developing a business case for your resource efficiency projects

Accessing finance. Developing a business case for your resource efficiency projects Accessing finance Developing a business case for your resource efficiency projects Developing a business case for your resource efficiency projects 2 Contents 1 Planning a resource efficiency project?

More information

eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels

eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels eeef - European Energy Efficiency Fund Investing into Energy Efficiency Projects: why and how? November 6 2014, Brussels Advancing Sustainable Energy for Europe Agenda 1 eeef - key elements 2 Implemented

More information

3. Good Practice Example: SEAP (Sustainable Energy Action Plan) (Budapest, Hungary)

3. Good Practice Example: SEAP (Sustainable Energy Action Plan) (Budapest, Hungary) 3. Good Practice Example: SEAP (Sustainable Energy Action Plan) (Budapest, Hungary) Keywords Budapest, sustainable energy, CO2 emission reduction, climate protection, action plan Name and location Budapest

More information