Two years have passed since European DataWarehouse, Hypoport, Unión de Créditos Inmobiliarios, NN Bank, Università Ca’ Foscari and Dexai launched the ENGAGE for ESG initiative with the aim of creating a future-proof data and innovative funding framework for energy efficient mortgage and renovation financing, making sustainable energy investments more attractive to private investors and aligning them with the EU’s sustainable finance objectives.
The ENGAGE for ESG Consortium is proud to share that in November 2024, the initiative will have achieved two crucial milestones: the development of the ENGAGE Templates and the release of the ENGAGE Portal.
In November 2023, version 1.0 of the Templates was released. This very first version included the data fields to test the alignment of mortgage loans with the substantial contribution criteria of the Climate Delegated Act for the acquisition and ownership of buildings. Version 1.0 of the ENGAGE Templates also included data requirements relating to the minimum safeguards.
The Consortium continued work to improve the Templates and published an updated version in August 2024 (version 1.1), enhancing the existing data requirements and, most importantly, including the data fields relevant for the Do Not Significant Harm criterium. With this update, the ENGAGE Templates now comprehensively cover all EU Taxonomy requirements to comply with the technical screening criteria for climate change mitigation for mortgages.
Version 1.2 of the Templates is currently under development and will focus on the data fields needed to test the alignment of home renovation loans with Annex I of the Climate Delegated Act.
From November 2024 the ENGAGE Templates will be embedded in the ENGAGE Portal, an IT infrastructure developed by European DataWarehouse and Hypoport.
Lending institutions will be able to upload, validate, and manage data relating to mortgages and home renovation loans in the ENGAGE Portal in compliance with specific reporting obligations, starting with the Taxonomy Regulation.
The ENGAGE Portal does not require any IT implementation by lending institutions, as data can be directly submitted to the Portal, where it is processed and from which the Taxonomy-alignment report is generated. The ENGAGE team supports test users through the data extraction process, as well as with data enrichment and data quality checks.
Please note, the next ENGAGE for ESG webinar will take place on Thursday, 21 November at 10:00 CET, where the ENGAGE Portal will be on display for the first time. Click HERE to register.
During the final 12 months of the ENGAGE for ESG initiative, the Consortium will continue upgrading the Templates and the Portal to support lending institutions through the sustainability disclosures reporting process.
European lending institutions interested in testing the ENGAGE Portal can do so free of charge until October 2025. Please email engage4esg@eurodw.eu to participate in the testing phase.
To receive the ENGAGE Templates, lending institutions are required to complete a simple access request form available via the ENGAGE for ESG website. Once the request is processed, the applicant will receive the Templates and supporting documentation via email.
In a 30-minute meeting, the ENGAGE Team will walk you through the nuances of the ENGAGE Templates and demonstrate how they will help lending institutions identify the relevant climate-related data to align their mortgages and home renovation loans with the EU Taxonomy in line with the Technical Screening Criteria of the Climate Delegated Act for the economic activities of acquisition and ownership and renovation of real estate.
Sign the ENGAGE agreement to receive the sample data submission files. A specific legal framework has been prepared for the safe and lawful processing of data.
Complete the ENGAGE Templates and submit your mortgage sample file to the ENGAGE Portal.
Receive the ENGAGE report on EU Taxonomy compliance.
To achieve the proposed 55% emission reduction climate target by 2030, around EUR 275 billion of additional investments are needed per year.
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