EuroPACE Project: An integrated building improvement platform for Europe.
|
|
|
Building Momentum. Creating a Movement. Working with Partners and Allies.
|
|
|
|
Dear friends and colleagues,
Over the last few months, we have been working with partners and allies to build momentum for EuroPACE financing at the European level and at the same time progressing in the development of the EuroPACE pilot on the ground in Spain. Below are three main achievements since the launch of the project:
- Promoting EuroPACE at the national level in Spain: Gained endorsement from multiple Ministries, Cities, national/regional agencies, industries associations, labor unions, and relevant experts.
- Developing Support from the Financial Community at the European level: Held multiple meetings with investors, bankers, bond issuers and multilateral banks to explore synergies and investment opportunities. We are happy to report that EuroPACE is seen as a potential game-changer by the financial community. The next step is to develop an effective financing structure integrated with public sector incentives.
- Co-Hosting a high-level workshop on EuroPACE in Madrid: The workshop was held under the auspices of the Sustainable Energy Investment Forum, which brought together policy-makers, city practitioners, investors and energy efficiency experts to further delve into adoption of PACE in Spain.
|
|
Focus on Central and Eastern Europe
|
|
|
As soon as the project kicked-off in March 2018, CASE (Center for Social and Economic Research) began assessing which countries are best suited for EuroPACE implementation.
|
|
|
|
What distinguishes EuroPACE from other financing opportunities for building improvements is an idea of on-tax financing. Under this mechanism investors lend money for deep building retrofits up-front and then get repaid regularly through an additional surcharge on a tax bill, usually a property tax.
In order to assess the suitability of countries for the adoption of this mechanism and ultimately EuroPACE implementation, a comprehensive review into the local tax and its regulatory frameworks is currently being conducted in the EU-28. For now, we are proceeding with countries from the Central and Eastern European region, so if you are an in-country expert on local taxes in Latvia, Lithuania, Estonia, Hungary, Romania and Bulgaria willing to help us in this research phase, please contact Karolina Zubel, a lead researcher at CASE via email: karolina.zubel(at)case-research.eu |
|
What Influencers are saying about EuroPACE
|
|
|
“Green buildings is the most important area where Europe has to do more to achieve its climate goals. PACE finance, a success story in the U.S., can help to unlock the massive potential for green buildings in the EU." Martin Stadelmann, Practice Leader, Green Finance & Cities at South Pole Group.
|
|
|
|
“PACE has proven itself here in the US, and it's available in parts of Australia now, with Canada close behind. It's really a universally adaptable way to incentivize building owners to upgrade their properties, and there's tremendous need in Europe and throughout the globe." David Gabrielson, Executive Director, PACENation.
|
|
|
|
"EuroPACE makes energy efficiency affordable, democratic, and competitive. It has the potential to fast track home owners in Europe to accessing finance for energy efficiency upgrades." Jessica Stromback, Chair of Joule Assets Europe
|
|
|
Join us in the coming months
|
|
|
In an effort to promote EuroPACE and meet with investors and pulic authorities, we will be attending the following events. Let's use this opportunity to meet.
|
|
|
We will take part in the C4E Forum focused on Central and Eastern Europe, held in Serock, Poland from the 13- 16th of June. EuroPACE project was invited to present on the 15th of June at 9 AM alongside EASME and LABEEF, moderated by our project coordinator - Center for Social and Economic Research. |
|
|
Great news: EuroPACE application to host a talk during the EU Regions Week 2018 was accepted. The Basque Government's energy agency and GNE Finance will team up to bring together the 1st EuroPACE Summit hosted during the EU Regions week in October, 2018. Stay tuned! |
|
|
EuroPACE in Norway and Switzerland
|
|
|
GNE Finance teamed up with Climate KIC, South Pole Group and Norwegian University of Science and Technology.
|
|
|
|
The aim of the project is to assess whether PACE can be adapted to Norway. and Switzerland. The project received funding from Climate-KIC and it is independent of the Horizon 2020 funded EuroPACE grant.
|
|
On the 16th of May, 2018, we are hosting a National Roundtable Consultation on PACE financing in Trondheim, Norway. There are still spot available to join us this week. Please RSVP to attend the Roundtable. You can find the agenda here. |
|
|
Are you involved in clean energy financing in Switzerland? Join us on May, 31st in Zurich at the National Roundtable on on-tax financing, hosted by South Pole together with GNE Finance and Climate-KIC. Learn more about the project here and please reach out to us directly about joining. |
|
|
GNE Finance's Davide Cannarozzi speaking about EuroPACE
|
|
|
Learn more about how EuroPACE is aligned with EU climate and energy goals and why GNE Finance believes it can unlock energy efficiency investment.
|
|
|
|
|
The interview was filmed this March, 2018 by Engerati, Europe's largest community of utilities and power sector professionals.
|
|
|
Please provide us your feedback and help us tailor the content.
|
|
|
Is the newsletter content relevant?
lowest 1 2 3 4 5 6 7 8 9 10 highest
Sorry, voting is closed.
Do you have a good grasp of what EuroPACE project is about?
lowest 1 2 3 4 5 6 7 8 9 10 highest
Sorry, voting is closed.
Do you want to see more updates from Spain?
lowest 1 2 3 4 5 6 7 8 9 10 highest
Sorry, voting is closed.
Do you want to see more information about the financing model?
lowest 1 2 3 4 5 6 7 8 9 10 highest
Sorry, voting is closed.
|
|
|
|
8 Companies and organizations from 4 countries joined together to bring PACE to Europe. The project is co-lead by GNE Finance and Center for Social and Economic Research.
|
|
|
Thank you for being part of the EuroPACE Community
|
|
|
We look forward to working with you to make EuroPACE a success.
|
|
|
Sincerely,
Kristina Klimovich
Head of Communications and Marketing
GNE Finance
|
|
|
|
|
|
