PwC Luxembourg Real Estate and Sustainability Newsletter - July 2016


Investor Ready Energy Efficiency certification launched in Europe

How to make sure energy efficiency projects deliver on their promises and raise up to investors' expectations? The Investor Confidence Project (ICP) has the solution, with their newly launched "Investor Ready Energy Efficiency" (IREE) certification.

Effective since 30 June, the IREE certification's purpose is to build confidence in savings, while reducing transaction costs. This is further expected to attract private capital and boost investments in green buildings globally. The Carbon and Energy Fund has already some development projects in the pipeline, worth around EUR 120 million. A notable example is the UK National Health Service (NHS) retrofit project in Liverpool, the first to be IREE-certified in Europe.

The advantage of IREE certifications is that they guarantee to investors and owners that projects are developed according to best practices and that the entire process is under the supervision of an independent body. The investors obtain, therefore, access to reliable information before they even consider the investment. This certification has the potential to tap into Europe's building retrofit market potential, estimated at around EUR 100 billion per year.

ICP Europe is financed through the European Commission's Horizon 2020 programme and aims at connecting investors with effective ways of achieving environmental results.

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