In the context of the revision of the EU Energy Performance of Buildings Directive (EPBD), the European Central Bank (ECB) published an Opinion on Monday 16 January in which it recommends a more harmonised methodology for the definition of new energy classes - ranging from A to G - in energy performance certificates (EPCs) for buildings.
“While the ECB appreciates that the proposed Directive aims to increase the comparability of EPC classes across the Union compared to the status quo, it is concerned that the proposed methodology falls short of the necessary degree of harmonisation”, the ECB Opinion states.
The institution points out that the different methodologies applied by Member States to calculate the energy efficiency of buildings “do not allow for accurate aggregation of data at EU level”.
It also regrets that the European Commission’s proposal to revise the Directive (see EUROPE 12854/13) provides for common criteria only for the definition of the best and worst buildings.
By defining G-class buildings as the 15% of buildings identified by each Member State as the worst performing in their building stock from an energy point of view, this implies that the worst 15% of buildings will have very different actual energy performances from one Member State to another, which considerably reduces real comparability across the Union, the ECB further deplores.
In its view, leaving the definition of EPCs to the discretion of Member States rather than implementing uniform thresholds across the EU to harmonise the labelling system could potentially lead to an inefficient allocation of capital.
On the contrary, a more harmonised methodology would “help the ECB, in its prudential supervisory functions, to assess the impact of energy efficiency on credit institutions’ real estate exposures”, while enhancing the Eurosystem’s capability “to properly monitor and assess the impact of the climate-related financial risks on the assets it holds on its balance sheet”.
See the Opinion: https://aeur.eu/f/4ze (Original version in French by Damien Genicot)