The European Union’s Energy Efficiency Financials Institutions Group, jointly convened by the European Commission and the United Nations Environment Programme Finance Initiative (“UNEP FI”) recently released a report “Energy Efficiency – the first fuel for the EU Economy, How to drive new finance for energy efficiency investments.”
The report highlights the importance of energy efficiency and describes the resource as “EU’s biggest energy resource and one of the most cost effective ways to enhance the security of its energy supply and decrease the emissions of greenhouse gases and other pollutants. This is why the EU has a 20% primary energy consumption saving target for 2020 and further legislation in the field.”
The report highlights the importance of energy efficiency and describes the resource as “EU’s biggest energy resource and one of the most cost effective ways to enhance the security of its energy supply and decrease the emissions of greenhouse gases and other pollutants. This is why the EU has a 20% primary energy consumption saving target for 2020 and further legislation in the field.”
Download Report It is clear that there are many similar efforts in the European Union and the United States, aimed at address a set of barriers to investment in energy efficiency that transcend borders and oceans. Issues such as climate change, increasing energy costs, and the large amount of energy imports the EU requires, means that energy efficiency is front and center on the European Union's agenda.
The report focuses on a series of key areas of focus that include accounting for the full benefit of retrofits, increase enforcement of codes and standards, access to data, and investment standardization. The report also supports increases public-private investment partnerships.
Of particular relevance to the Investor Confidence Project efforts, the report highlights ICP as an example of approaches to standardization underwriting and investment procedures for energy efficiency investments.
The report focuses on a series of key areas of focus that include accounting for the full benefit of retrofits, increase enforcement of codes and standards, access to data, and investment standardization. The report also supports increases public-private investment partnerships.
Of particular relevance to the Investor Confidence Project efforts, the report highlights ICP as an example of approaches to standardization underwriting and investment procedures for energy efficiency investments.
Later in the report, our growing efforts around ICP Europe applies to at least three areas that are identified as "building blocks to develop a practical framework to stimulate energy efficiency investment in buildings." One of those critical areas is listed has to do with Standardization (below), however ICP EU was also highlighted as helping to establish a "Clear Business Case, Leadership and Awareness at Key Decision Maker Level" and to help provide a "Strong, Stable and Well-enforced Regulatory Framework."
ICP has been gaining traction in Europe in this year including the establishment of a broad based European steering committee including both policymakers, investors, and industry.
Matt Golden, Senior Energy Finance Consultant, attended ESCO Europe, the continent’s largest conference for energy service providers, specifically to talk about how ICP is being used in the U.S. and how adaptable it can be for the European market. Since the conference and along with the release of this report, ICP has been engaging in conversations with European stakeholders to further advance a plan to raise funds and execute a European ICP initiative.
We look forward to additional European engagement in ICP and believe that in a global economy, the more we can align our efforts the more investment and energy efficiency we will achieve.
Matt Golden, Senior Energy Finance Consultant, attended ESCO Europe, the continent’s largest conference for energy service providers, specifically to talk about how ICP is being used in the U.S. and how adaptable it can be for the European market. Since the conference and along with the release of this report, ICP has been engaging in conversations with European stakeholders to further advance a plan to raise funds and execute a European ICP initiative.
We look forward to additional European engagement in ICP and believe that in a global economy, the more we can align our efforts the more investment and energy efficiency we will achieve.
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