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ARTICLE · 18 FEBRUARY 2021

Prosperity And Climate Action Through Green Mortgages

Castrén & Snellman
Castrén & Snellman
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Castrén & Snellman

Castrén & Snellman

Castrén & Snellman is a law firm of 300 people based in Helsinki, Finland. In other parts of the...

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The EU is aiming to be climate neutral by 2050, which will require climate action from us all.

FinlandFinance and Banking
Julian Lagus
Julian Lagus

The EU is aiming to be climate neutral by 2050, which will require climate action from us all. Banks in Finland have taken a step in that direction by launching the first environmentally friendly green mortgages onto the Finnish market. How will this new product effect the future of the mortgage market?

ENERGY EFFICIENT LIVING REWARDED WITH LOWER INTEREST

The goal of the Energy Efficient Mortgages Action Plan (EeMAP) funded by the EU is to develop a green mortgage for the European markets in order to encourage energy efficiency. The idea is that people who purchase an energy efficient home would be rewarded, for example, with a lower interest rate. The same incentive would be available for renovations to improve energy efficiency.

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