The SFTE[1] project aims to establish a broad partnership between public and private entities to stimulate the economy and deliver hundreds of billions of euros across Europe for the benefit of medium-sized projects (in the order of €1m) which are necessary for the energy transition. It will enable EU banks to finance the energy renovation of public buildings under excellent – cheap and long-term – conditions.

The SFTE project corresponds with the 2015 European 10-point agenda proposed by the Juncker Commission (12/11/14):

  • “A new boost for jobs, growth and investment”
  • “A resilient Energy Union with a forward-looking climate change policy”
  • “A deeper and fairer internal market with a strengthened industrial base”
  • “A deeper and fairer Economic and Monetary Union” (a globally unique green bond market)
  • “A stronger global actor” (more energy independent; an exemplary shift project for COP21)

The SFTE project should serve to restore the confidence of European citizens in national and European institutions, all of them being users of public buildings. Regular dialogue between the European Parliament and the Commission about the SFTE project will be a catalyst for local decision-making by elected representatives.

The SFTE project is a strategic opportunity under the €300bn three-year investment programme announced by President Juncker. AFTER[2] has recently published proposals which, for the purpose of this note, have been adapted to the above investment programme, its constraints, and a direct economic stimulus by the EU[3].

[1] Société de Financement de la Transition Energétique: Energy Shift Financing Agency (ESFA) in English.

[2] AFTER. Massive Financing of the Energy Transition. Feasibility Study: Summary Report. Energy Renovation of public buildings. November 2014. This feasibility study has been conducted by the AFTER non-profit association with an exemplary consortium of public and private stakeholders in France: local authorities, industry players, banks/financial institutions, NGOs, Plan Bâtiment Durable (Ministry of Ecology, Sustainable Development and Energy).

[3] The SFTE project aims to deliver between €180bn and €420bn of investment in Europe over 10 years.

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