MEPs green light new tool to finance the EU Renovation Wave.
Posted on 09 February 2023Today, MEPs from the European Parliament's Committee on Industry, Research and Energy (ITRE) supported the introduction of Mortgage Portfolio Standards (MPS) in the Energy Performance of Building Directive recast. This new financial tool - which WWF has been advocating for - will help unlock the private investments needed for the financing of the EU building stock’s renovation. WWF also welcomes the inclusion of a Delegated act, to put in place the necessary accompanying framework.
Sebastien Godinot, Senior Economist at WWF European Policy Office commented:
“As citizens are struggling to make ends meet because of raising energy bills, banks need to play their part in alleviating the pressure faced by struggling families. MEPs have taken a major step forward by supporting the introduction of Mortgage Portfolio Standards in the Energy Performance of Building Directive recast. But they can only successfully encourage banks to support citizens renovating their homes if they are mandatory. This is the only way we can achieve the Renovation Wave the EU desperately need”