Showing posts with the label United Nations Environment Programme Finance Initiative

Energy Efficiency Financial Institutions Group. Comments by Jalil Boulahssas, Impact Investing Intern, University of Richmond

The Energy Efficiency Financial Institutions Group (EEFIG) – New Working Groups Webinar was held early Monday morning (Jan. 27, 2020) to address long term barriers to energy investment in Europe.  Led by Martin Schoenberg of the United Nations Environment Programme Finance Initiative, the webinar discussed the role of energy efficiency within sustainable finance as banks work to align their portfolios with the Paris climate change agreement. As of September 2019, financial institutions and alliance investors have adopted principles for responsible banking to reach net zero emissions by the year 2050. As real estate loans form a large portion of bank asset composition, the energy efficiency of mortgages comes under focus as a significant point of improvement.  According to the EEFIG, the global economy must double its investment in energy efficiency by 2025 and double it again by the year 2050. Many European banks are looking to establish a standard definition of energ