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SEFA Ratifies New Manifesto at Barcelona General Assembly, marking a Milestone in Europe’s Net-Zero Transition
Barcelona, November 05, 2024 – At SEFA’s General Assembly held in Barcelona, the Sustainable Energy Finance Association (SEFA) adopted a pivotal manifesto aimed at advancing Europe’s transition to a net-zero carbon future within the built environment. This manifesto outlines SEFA's commitment to accelerating Europe’s transition to a net-zero carbon economy through targeted support for sustainable energy finance. SEFA’s framework aligns with the EU’s 2040 climate target, which aims for a 90% reduction in emissions, and emphasizes strengthening sector competitiveness, enabling green investment, and fostering a skilled workforce to support sustainable projects.
SEFA’s Commitment to a Net-Zero Future
John O'Rourke, SEFA Chairman, highlighted the significance of this manifesto, stating:
Major Priorities in the SEFA Manifesto
Commitment to Achieving EU Climate Goals by 2040
SEFA is dedicated to advancing the EU’s climate ambitions by advocating for the reallocation of fossil fuel subsidies to clean energy investments. The association encourages EU member states to frontload investments that support businesses and consumers in energy-efficient renovations, especially as the ETS2 carbon pricing implementation approaches.Boosting Sector Competitiveness
SEFA endorses a forward-thinking EU Clean Industrial Strategy that moves beyond traditional bank-based finance to embrace capital market solutions. This shift will drive large-scale renewable energy initiatives, reducing reliance on imported technologies, lowering energy costs, and enhancing Europe’s global competitive edge in sustainable energy.Reducing Single Market Barriers and Improving Public Procurement
The manifesto calls for a comprehensive Single Market strategy that harmonizes and simplifies regulations, creating a level playing field for all. SEFA also advocates for updated EU procurement policies that prioritize green public procurement, reduce regulatory complexity, and streamline the renovation process for public and private sector projects alike.Ensuring Effective Implementation of Energy Efficiency Directives
SEFA emphasizes the importance of quickly enacting the revised Energy Performance of Buildings Directive (EPBD) to stimulate demand for energy-efficient renovations across Europe. Accelerating the transposition of these directives into national law is crucial to achieving the EU’s energy savings targets.A Capital Markets Union for the Energy Transition
SEFA supports a robust EU Capital Markets Union to ensure wide access to capital for businesses, especially SMEs, allowing them to expand and compete across Europe and beyond. The framework should include varied debt and equity products suited to different risk profiles, attracting long-term investment in the energy transition. SEFA also highlights the need for credit enhancement and blended financing to mitigate risk and encourage private investment in deep renovation projects, particularly in member states with lower investment grades.·Developing a Skilled Workforce for Sustainability
Recognizing the growing demand for energy-efficient renovations, SEFA underscores the need for workforce development through a European Skills Agenda. This initiative will prepare SEFA’s ecosystem with the skills necessary to support and expand sustainable projects across Europe, ensuring a well-prepared workforce for the green transition.
SEFA Executive Director added emphasis on the manifesto’s actionable vision:
The manifesto sets the stage for SEFA’s ongoing advocacy efforts, building partnerships with European institutions, industry leaders, and financial organizations to foster a competitive, sustainable, and energy-efficient Europe.
For more information, please contact:
Telvin Kulecho
Communications and Membership Officer
Email: telvin@sefaeu.org