Swedbank part of Nordic hub to scale up lending for energy renovations

The Nordic Energy Efficient Mortgages (NEEM) Hub is a consortium to promote energy renovations of the Nordic building stock. It will be comprised of experts from the financial sector, behavioural scientists, mortgage specialists and authorities on digital technologies from across the Nordics, all guided by Copenhagen Economics.

The project will be a part of the existing Energy Efficient Mortgages Initiative which Swedbank entered last year and supported by Horizon 2020. The EU green deal proposes a ‘renovation wave’ of the EU’s public and private building stock and requires Nordic governments to commit to ambitious climate targets and massive private investment.

“Swedbank’s vision is a financially sound and sustainable society where Swedbank empowers the many people and businesses to create a better future. You cannot drive that change alone. We are excited to be a part of the Nordic initiative, enabling the transformation towards sustainable mortgages and housing” says Fredrik Nilzén, Head of Sustainability, Swedbank.

Over the next decade, estimated investments of up to EUR 50 bn are needed in the Nordics to be sure of reaching the current targets. However, a substantial amount of the necessary investment, though profitable on paper, is not being carried out. This issue, which has come to be labelled the “energy efficiency gap”, is well-publicised and has been described in numerous research papers and articles. The focus of the NEEM Hub will be to break-down the factors contributing to this energy efficiency gap and promote energy renovations in the Nordics.

Read more in the NEEM whitepaper attachement

More on the Energy Efficient Mortgages Initiative: https://energyefficientmortgages.eu/

Contact:

Unni Jerndal, Head of Group Press Office, Swedbank
unni.jerndal@swedbank.com,
Ph. +46 730 92 11 80

Swedbank encourages a sound and sustainable financial situation for the many households and businesses. As a leading bank in our home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 159 branches in Sweden and 81 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. Read more at www.swedbank.com

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