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EeMAP: Comments to Energy Efficient Mortgages - Juho Maalahti, Nordea


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Presented at Green Building Council Finland's EeMAP workshop on 13th Feb 2018.

Published in: Real Estate
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EeMAP: Comments to Energy Efficient Mortgages - Juho Maalahti, Nordea

  1. 1. 1 Green Forum, EeMAP Juho Maalahti Group Sustainable Finance, Nordea Bank AB
  2. 2. 2 Role of the banks in climate change mitigation EU High-Level Expert Group recommendations Green Taxonomy, Green Factor, EeMAP Finland Climate goals, Paris agreement Carbon neutral 2045, carbon free energy 2025 Nordea and other banks Supporting transition to low-carbon economy Built environment - 40% of primary energy consumption - 30% of CO2 emissions Household energy consumption* - EU avg. 5tCO2 annually per hh - FI estimate >3tCO2 annually per hh Energy production (direct emissions, gCO2/KWh)* - EU avg. 353 - FI 149 - DK 256, SE 14, NO 10 ~50% Share of lending to households out of total lending book (total 300bn EUR) ~30% Market share of Finnish mortgage market (housing loans, Q3/2017) Position Statement (Oct 2017) - Not provide new financing to energy production companies that are primarily dependent on thermal coal NORDEA Commercial and residential buildings represent an important role in mitigating climate change through energy efficiency improvements Opportunities to create positive impacts through green products while encouraging consumers to focus on energy efficiency and cleaner energy consumption Our impact opportunities are significant and primarily in urban areas (large part of household loans focused on capital regions) Nordic countries National implementation / commitments to climate change mitigation goals *Source: EUStat & European Residual Mixes 2016, Association of Issuing Bodies. Only estimated figures, based on primary energy production.