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Paola Rusconi Desk Energy Mediocredito Italiano, Intesa Sanpaolo Group

How can a European regulatory framework help remove the barriers to energy efficiency investment?. Paola Rusconi Desk Energy Mediocredito Italiano, Intesa Sanpaolo Group. Money matters – How to mobilise private finance for energy efficiency. Brussels - February 13, 2012.

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Paola Rusconi Desk Energy Mediocredito Italiano, Intesa Sanpaolo Group

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  1. How can a Europeanregulatoryframework help remove the barriers to energyefficiency investment? Paola Rusconi Desk Energy Mediocredito Italiano, Intesa Sanpaolo Group Money matters – How to mobilise private finance for energyefficiency Brussels - February 13, 2012

  2. There’s no valueifnotsustainable ReducingISP’s carbon footprint and trying to do the same with the clients 96% energyconsumption in Italy from RES • Intesa Sanpaolo (ISP), asinternational standing financialinstitution, sets itself the target of creatingsustainablevalue. This goal goesthrough the conjunction of economical, social and environmental benefits. • Environmentprotectionis more thanonly a duty by law, it’s a strategicpathISP undertookyears ago. The reduction of energyconsumptionis a focalpoint of thispath. • The Management Board of ISP Group isstronglycommittedto reachsignificant targets of energyconsumptionreductionin terms of direct and indirectimpacts. • The CSRunit, the Energy Manager and all the divisions of the Group are giving the maximum attention to the topic of energysustainability, evensupporting clients with a wide range of products. -17,14% CO2 emission 2010 vs 2009 1° Bank official partner of Sustainable Energy Europe – EU Commission 1° Bank certificated UNI CEI EN 16001 1° green group in Italy and 13° in the world – Newsweek Green Rankings 2010-2011 1° prizeGreen Globe Banking Award 2011 ISP ispartner of many EC funded projects in EE/RES

  3. Strengths and opportunities of energyefficiencyinvestments from a bankperspective • Appeal of the concept of saving • Alignment of benefits in terms of profit and environmental safeguard • Investments with short-medium pay back period • Reduced need for public economic incentive • Technologies involved well-known • Issue identified as strategic at european level • Formal commitment of authorities and institutions

  4. Weaknesses and threats of energyefficiencyinvestments from a bankperspective • Few awareness and knowledge of the topic at the medium level • Investments not clearly recognizable (vs. photovoltaic etc.) • Subtle difference between energy efficiency and end-of-life substitution • Few availability for investments out of the “core business” • Few ESCO with firm financial and technical bases • Problem with performance contracting • Lack of benchmark on results of energy efficiency investments • Negativity of the economic scenario • Uncertainty of the regulatory framework • Access to public support mechanisms not simple and/or built for large projects

  5. The importance of havingregulatorystability Many of the pointsof weaknesses/threats are under the control or can be influenced by the effectiveness of the public commitment and of the regulatoryframework. • Financial institutions can multiply the economic results of the sector, under the certainty and the stability of the regulatory framework. Public support in terms of incentives must not necessarily be huge, but quantifiable for sure. • Uncertainty is the antithesis of bankability.

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