The Energy Efficiency Financial Institutions Group
Up-scaling energy efficiency investments is critical and will have multiple benefits for Europe. Energy efficiency investments increase security of supply reducing Europe's reliance on imported energy, enhancing the competitiveness of Europe's industry, and reducing global as well as local environmental emissions. Buildings are responsible for 40% of final energy consumption in the EU, and yet 75% of Europe's buildings were built with no or minimal energy-related building codes and most of today's buildings will still be in use in 2050. Industry is responsible for 26% of final energy consumption and while European industry is a world leader in energy efficiency, there are still substantial potential savings to be made. Over the coming decade energy efficiency investments will become mission critical to deliver competitive industries and high performing buildings.
The Energy Efficiency Financial Institutions Group (EEFIG) was established in 2013 by the European Commission Directorate-General for Energy (DG Energy) and United Nations Environment Program Finance Initiative (UNEP FI). It created an open dialogue and work platform for public and private financial institutions, industry representatives and sector experts to identify the barriers to the long-term financing for energy efficiency and propose policy and market solutions to them. EEFIG has engaged 120 active participants from 100 organizations to deliver clear and unambiguous messages.
In February 2015 EEFIG presented its landmark report "Energy Efficiency – the first fuel for the EU Economy: How to drive new finance for energy efficiency investments" which provided a significant advance in the understanding and knowledge about the issues of energy efficiency financing. The findings of the EEFIG Report have contributed to actions such as G20 commitments, and the European Commission has taken EEFIG report in full consideration for the implementation and development of energy efficiency related policies. In 2015, five national EEFIG processes were launched taking the EEFIG methodology and results and replicating them at national level in Germany, France, Poland, Bulgaria and Spain.
In 2016, a consortium was formed to pursue EEFIG's conclusions and create an evidence base that would de-risk energy efficiency investments for a new and emerging number of financial institutions entering this market. On 30th November 2016, EEFIG's De-risking Energy Efficiency Platform (DEEP) was launched with over 7,800 projects in an open-source, pan-EU database to improve the sharing and transparent analysis of existing energy efficiency projects in Buildings and Industry. All of EEFIG's reports, analysis and evidence base can be accessed from the main menu toolbar above.
Last update: 30-11-2016