The ENGAGE for ESG initiative is proud to announce the creation of a high-level Expert Group dedicated to strengthening the practical implementation of the European Union’s sustainable finance regulatory framework. This step marks a significant milestone in ENGAGE for ESG’s mission to support lending institutions across the EU in aligning their mortgages and home renovation loans with the EU Taxonomy Regulation.
The newly formed Expert Group brings together prominent members from the European Investment Bank (EIB), Banque de France, and Banco de España. The diverse and experienced team will work to enhance the usability and impact of the ENGAGE solutions for simplified ESG reporting.
Specifically, the Group will collaborate to optimise the two pillars of the ENGAGE for ESG initiative, the ENGAGE Templates and the ENGAGE Portal, with the purpose of identifying how they can best serve key stakeholders and support the implementation of the EU Taxonomy Regulation.
“The creation of this Expert Group represents an important step in bridging policy, practice, and innovation in sustainable finance,” said Marco Angheben, Project Coordinator of the ENGAGE for ESG initiative. “The input of these leading experts will definitely contribute to the improvement of the ENGAGE for ESG solutions as pivotal instruments to help the EU’s financial sector transition towards a more sustainable future.”
Vincent Mahieu, Head of Energy Efficiency & Regulatory Technology at Hypoport, stated: “In a period marked by shifting regulatory priorities in Brussels, the importance of clarity and collective expertise cannot be overstated. That is why we are especially pleased to have this Expert Group. As we enter a decisive phase for sustainable finance in Europe, their insight will help us navigate the path ahead—anchored in the practical application of the EU Taxonomy and its relevance to residential mortgages. Together, we will turn complexity into clarity, and ambition into action.”
Media Contact:
European DataWarehouse GmbH
Carla Scarsella
Tel. +49 (0) 69 50986 9320
Email: carla.scarsella@eurodw.eu
Project Background
Attracting private investments and stimulating green loan financing is crucial for the EU mission of achieving a zero-emission building stock by 2050. ENGAGE aims to provide a solution to have a single data disclosure format for mortgage funding and regulatory purposes encompassing the most relevant European ESG regulations such as the EU Taxonomy, EU GBS and EPBD. Thereby ENGAGE aims to facilitate a truly new format that facilitates both the banks, regulators and investors by combining existing mortgage disclosure(s) with new (and recently announced) ESG regulations, such as the EU Taxonomy. Creating transparency on definitions and requirements, with respect to the data-needs will allow the Financial Institutions to translate these needs towards the consumer products as well.
Why ENGAGE for ESG?
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[1]. Home renovations and the financing thereof should increase. Financing the energy efficiency improvement 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 European building stock. The ENGAGE for ESG framework for energy efficient mortgages and renovations will create transparency through the translation and application of the relevant sections of the EU Taxonomy (and forthcoming EPBD) into the Dutch and Spanish national building and mortgage-lending practices that will ultimately contribute to standardisation of innovative and decarbonisation-targeted capital markets financing transactions.
DISCLAIMER: Co-funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for them.
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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