ELTI participates at the European Sustainable Energy Week 2019
As part of the European Sustainable Energy Week, between 17-21 June 2019, The European Long-Term Investors Association (ELTI) presented the role of the members of the association, specifying the long-term experience and know-how of National Promotional Banks and Institutions (NPBIs), which are - in their respective Member States and through their combined action at EU level - key investors and enablers for a fair and sustainable energy transition.
During the session entitled 'Sustainable Finance for Energy Efficiency, Experience from Markets across Europe' ELTI provided an overview of NPBIs’ involvement in the deployment of long-term financial instruments for the development and maintenance of energy infrastructures, as well as boosting energy efficiency through smart financial incentives. An association made up of 29 NPBI members, ELTI was able to shine a light on the exchange of best practices amongst its members. One of the objectives of the session was to share these best practises in financing the energy transition with all relevant stakeholders and policy makers. Another was to identify the remaining barriers on the ground thanks to NPBIs in-depth knowledge of their respective markets in order to unlock the full potential of investment.
The European Commissioner for Climate Action and Energy, Miguel Arias Cañete, had estimated that “around €180 billion of additional investments a year are needed to achieve the EU's 2030 targets agreed in Paris”. NPBIs already play a key role in tackling this investment gap by bringing about innovative and long-term solutions and by crowding-in private investors. In light of the revised Energy Performance of Buildings directive, this role will increase in the future. The Commission’s proposal on the Invest EU programme, granting NPBIs a direct access to the EU guarantee, will be key in enabling NPBIs to fulfil their objectives for the energy transition.