A number of Europe’s biggest banks have joined forces to launch a new green mortgage scheme. One of the central purposes of the scheme is to support energy efficiency and to establish greater incentive for consumers to achieve reductions in energy use. In short, the collaborating banks will offer lower interest rates for mortgages that meet the criteria of the scheme, which includes the requirement that new buildings meet national “nearly zero-energy building” standards and renovated buildings meet a 30 percent reduction in energy demand.

Led by the World Green Banking Council, a total of 37 banks are participating, providing part of the engine behind a European wide campaign to ‘build green’.

Terri Wills, CEO at WorldGBC, commented: “The commitment by Europe’s leading banks to this pilot shows green building is hitting the mainstream…We look forward to developing the standards over time to support the investor community in addressing climate risks.”

More information can be found here.

If you’re in the UK and want to know more about your ethical mortgage options, visit the Ethical Mortgages section of The Good Shopping Guide.

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