The Energy Efficiency Financial Institutions Group
Energy efficiency investments have multiple benefits for Europe. They can at the same time increase supply security through reduced reliance on imported energy, enhance the competitiveness of Europe's industry, and reduce global as well as local environmental problems. Buildings are responsible for 40% of final energy consumption in the EU, but 75% of Europe's buildings were built with no or minimal energy-related building codes and 75-90% of today's buildings will still be in use in 2050. Industry is responsible for 26% of final energy consumption and although EU's industry is a world leader in energy efficiency, there are still substantial potential savings. Hence, significant investments in energy efficiency are needed over the coming decades.
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 on how to overcome the challenges of obtaining long-term financing for energy efficiency. EEFIG has since its creation engaged 120 active participants from 100 organizations to deliver a clear and unambiguous message.
In February 2015 EEFIG presented its 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 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.
Last update: 31-03-2016