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Working Group - Multiple Benefits of Energy Efficiency

Timeline of WG activities

  1. February 17, 2020
    1st WGM, Introduction of the general concept
  2. July 8, 2020
    2nd WGM, Macro-economic effects of multiple benefits in the context of the COVID recovery
  3. September 10, 2020
    3rd WGM, Multiple benefits in the context of social housing
  4. November 20, 2020
    4th WGM, Multiple benefits in the context of social housing (continued)
  5. December 8, 2020
    5th WGM, EU Taxonomy, green building certification schemes and multiple benefits
  6. March 23, 2021
    6th WGM, Multiple benefits in the context of managing and supervising of ESG risks for credit institutions and investment firms
  7. April 28, 2021
    7th WGM, Multiple benefits of energy efficiency in the context of impact investing
  8. May 31, 2021
    8th WGM, Discussion of Policy recommendations

Emerging results

The main output from the working groups covers the three most relevant thematic areas identified in relation to the non-energy benefits associated with energy efficiency investments: health and social benefits, the Sustainable Finance Taxonomy and green building rating tools and impact investing. Additionally, the consortium developed a quantification and monetisation tool for commercial real estate.  

Lessons learned from the working group meetings are: 

  • Multiple benefits are not yet top of mind for stakeholders working in financial institutions (FI’s). 

  • It is important to emphasise the benefits for the company and show how they can improve quality of work beyond energy efficiency.   

  • Multiple benefits are diverse, and it is important to clarify who receives the benefits (e.g. building owners, immediate neighbourhood). 

  • The focus on non-energy benefits and reduced energy poverty can help stimulate demand for a range of programmes such as social building renovation efforts.   

  • Mainstreaming the approach to multiple benefits, through e.g. taxonomy, can lead to benchmarks for monetising these benefits and make them operable for investors. 

Key recommendations from these are:  

  • The built environment has a large influence and impact on people and the environment. It is key to recognise and deliver added value through energy efficiency (EE) investments.  

  • Many Financial Institutions and building sector stakeholders understand the value of energy efficient buildings but struggle to account for the multiple benefits.   

  • Multiple benefits remain difficult to communicate, report, track and monetise due to lack of common definitions, benchmarks, widely accepted KPIs and lack of reliable data.   

  • Targeting Taxonomy compliance via energy efficiency investments can also generate wider benefits which are currently outside the scope of the screening criteria.   

  • Disclosure and reporting initiatives are instrumental to identifying non-energy impacts, improving data collection and disclosure practices.  

  • The impact investment framework can provide useful pointers on how non-energy benefits could be valued. While this identification and evaluation strengthens the connection between EE- and impact investing, it can also increase their attractiveness to impact investors. 

WG External Communications

Report on Multiple benefits of energy efficiency investments for financial institutions

Prof. Dr. Clemens Rohde

Clemens Rohde

WG leader

Clemens is head of the Energy Efficiency business unit in the Competence Center Energy Technologies and Energy Systems at Fraunhofer Institute for Systems and Innovation Research ISI since 2012. His areas of research include the development and evaluation of instruments for improving energy efficiency in different sectors as well as the assessment and analysis of energy efficiency measures in these sectors.

Oliver Rapf

Oliver Rapf

WP co-leader

Oliver has over 20 years’ experience in energy policy and sustainable business consultation. He is currently the Executive Director at Buildings Performance Institute Europe.