Energy efficiency: the role of Green Banking

Energy efficiency: the role of Green Banking

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Promote theenergy efficiency is a goal shared by institutions of all levels: from the European Union 2020 Strategy to individual local administrations, numerous programs have been put in place to encourage savings and sustainability in the energy sector. In practice, however, the current crisis situation makes it increasingly difficult to find the economic resources necessary to achieve the set goals. In this context, the Green Banking it can represent an important resource for putting sustainability policies into practice.

Banks, on which the shares of Green Banking, they can act in 3 different ways. Firstly, by offering subsidized lines of credit for projects related to the energy sustainability; secondly, as intermediaries between credits from third-party sources and actors requesting access to financing; finally, as real protagonists of a reorientation of the banking sector towards environmental sustainability.

The first sector of intervention is becoming more and more common: the number of banks that have chosen to offer ad hoc products for theenergy efficiency. The loans are aimed at both individuals and small and medium-sized enterprises and provide particularly advantageous conditions, starting from reduced or zero interest rates. Often companies wishing to implement energy efficiency they can count on further tax benefits from the State, through the instrument of deduction from the gross tax.

In the second case, however, the banks perform a linking function between funds made available by external actors - such as the EU or the Kyoto Fund - and the final recipients. This mode of Green Banking it lends itself very well to financing actions of local institutions, which often struggle to find the funds to concretely promote sustainability in the area.

Finally, the third method concerns the management methods and internal policies of credit institutions. A decisive turning point in favor of environmental sustainability andenergy efficiency it can lead to not negligible results. An example is that of the Bank of Piraeus, one of the largest Greek institutions, thanks to a European program it has had the opportunity to radically review its procedures.

The Green Banking offers the opportunity to intervene in favor of efficient and innovative development models that would otherwise struggle to find credit. The seventh edition of the Green Globe Banking, to be held in Milan on June 13 and which will be dedicated (not surprisingly) to the delicate issue of access to credit. Even this year IdeasGreen will be present at the event as a media partner.

Video: Energy Efficiency for Offices - A Green Business Fund Webinar (August 2022).