PROJECT DESCRIPTION
BACKGROUND
The SMARTER Finance for EU (SMARTER4EU) is a significant initiative to launch new green finance programs in the European Union and candidate countries. The project resources would create “on the ground” operational and self-sustaining Green Homes and Green Mortgage (GHGM) programmes implemented in Portugal, Spain and Ukraine. The project follows and builds upon on the success of the SMARTER Finance for Families (SFFF) H2020 project (#847141) which has introduced into 12 European countries comprehensive GHGM programs. While not beneficiaries of the action, SMARTER4EU also intends to share tools, access to capacity building training, and guidance to help the Rep. of Moldova, Rep. of Georgia, and Croatia - the two former of which having created the Essential Tools - to also sign bank partnerships. SMARTER4EU will build upon and exploit transformational initiatives and trends such as: the acceptance of the “EU Taxonomy on Sustainable Activities”; a growing appreciation for “green finance”; guidance by Central Banks for financial institutions to improve reporting, with a view to increasing transparency and managing climate risk. This project will demonstrate the close “fit for purpose” of the project partners’ green homes certification systems, and answer the need to assess building performance to receive the benefits of discounted green finance. The GHGM systems already implemented through SFFF meet and exceed the minimum planned EU Taxonomy (EUT) requirements for energy performance in the built environment. In fact, SFFF started its alignment process to the EU Taxonomy while only the Technical Expert Group reports were available (prior to the Climate Delegated Act). In addition to the climate mitigation objective, the residential certifications (existing and planned) by the consortium are very well-positioned to assess the “Do No Significant Harm” mandate of the EU Taxonomy, which states that energy performance must not come at the expense of other non-energy green criteria.