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LIFE EconomisE - Value for money: unlocking the investment potential for resilient low-carbon Finnish building stock

LIFE16 GIC/FI/000072


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Contact details:

Contact person: Kata Kreft-Burman
Email: Kata.Kreft-Burman@wwf.fi



Project description:

Background

Buildings have an important role to play in the EU's attempts to reduce greenhouse gas emissions. According to the Finnish Climate Panel (2014), by increasing the energy efficiency of existing buildings and ensuring strong low-carbon standards for new buildings, energy consumption can be cut by 50% by 2050. Energy renovation of existing buildings is the most effective way to save energy in the building sector, given that current buildings are expected to still make up 70% of all building stock in 2050.


Objectives

The LIFE EconomisE project will reduce emissions through a cooperative ‘EconomisE Platform’, working with institutional investors and municipalities while acting as a catalyst for a low-carbon and resilient economy. The project will work towards the delivery of 2020 and 2030 targets, the 2050 GHG reductions target and the EU adaptation strategy. EU-level collaboration aims to ensure that lessons from EU member states inform implementation, and that results will be properly disseminated.

More specifically, the project aims to:

  • Establish the EconomisE Platform by 2020, which will enable coordinated multi-stakeholder action to achieve accelerated energy decarbonisation and resilience in Finnish buildings;
  • Achieve 75% shift among institutional investors towards low-carbon investment, explicitly focused on decarbonisation of buildings and improved climate resilience by 2020;
  • Ensure that decision-makers and civil servants in 20 municipalities and large cities make investment decisions based on life-cycle planning, taking into account best practices on energy-efficiency implementation to achieve the decarbonisation of buildings.
  • The project foresees an effective project management to secure the sustainability of project’s actions through the establishment of an integrated monitoring process and evaluation strategy, along with supporting structures and advanced reporting. To boost replicability and transferability, the project will contact some 200 stakeholders in EU Member States via various dissemination channels, supported by effective networking initiatives through the project’s participation in 12 conferences, in order to disseminate lessons learned.

    Expected results:

  • Development of 30 investable, innovative, scalable multi-stakeholder projects together with 15-20 new business concepts/models, created through co-operation between investors, municipalities and well-established corporations along with a series of one-to-one meetings among the different actors;
  • 75% of institutional investors having real estate portfolios more aligned with the 1.5/2°C climate increase goals, both in terms of mitigation and adaptation, by adopting best practice disseminated to five EU countries;
  • International investors along with the remaining 25% of Finnish investors adopt the best practices developed after the project;
  • 200 municipal decision-makers and civil servants are trained on low-carbon investments;
  • Production of a guide for energy-efficiency investments for municipalities;
  • A tailored energy efficiency advice for HINKU carbon neutral municipalities to plan investments (the HINKU project involves some 27 municipalities, along with companies and experts assisting as partners, that are committed to carrying out numerous solutions to radically reduce GHG emissions by 2030);
  • A tailored energy efficiency advice for FISU (Finnish Sustainable Communities) municipalities to choose and organise future investments (the FISU project engages municipalities and cities to achieve carbon neutrality, zero waste and sustainable ecological footprint by 2050);
  • Implementation of 150 new investments with a total amount of €1.5 million; and
  • Production of 300 articles in various media channels to showcase and feature the benefits of the suggested energy-efficiency actions.


Results


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Environmental issues addressed:

Natura 2000 sites

Not applicable


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Beneficiaries:

Coordinator Maailman Luonnon Säätiö - World Wide Fund For Nature, Suomen rahasto sr
Type of organisation NGO-Foundation
Description WWF Finland, founded in 1972, is an independent part of the international WWF network. In addition to nature conservation, WWF Finland works to decrease the environmental effects of human actions. These efforts include promoting sustainable consumption and production, mitigating climate change and decreasing water consumption.
Partners Suomen ympäristökeskus (SYKE), Finland Suomen ympäristöopisto SYKLI Oy, Finland

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Project reference LIFE16 GIC/FI/000072
Duration 15-JUN-2017 to 15-JUN -2020
Total budget 897,407.00 €
EU contribution 538,444.00 €
Project location Uusimaa(Finland Suomi) Varsinais-Suomi(Finland Suomi) Satakunta(Finland Suomi) Häme(Finland Suomi) Pirkanmaa(Finland Suomi) Päijät-Häme(Finland Suomi) Kymenlaakso(Finland Suomi) Etelä-Karjala(Finland Suomi) Etelä-Savo(Finland Suomi) Pohjois-Savo(Finland Suomi) Pohjois-Karjala(Finland Suomi) Kainuu(Finland Suomi) Keski-Suomi(Finland Suomi) Etelä-Pohjanmaa(Finland Suomi) Vaasan rannikkoseutu(Finland Suomi) Keski-Pohjanmaa(Finland Suomi) Pohjois-Pohjanmaa(Finland Suomi) Lappi(Finland Suomi) Ahvenanmaa/Åland(Finland Suomi) Baltic Sea Suomi (SF)(Finland Suomi)

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