Green loan rate for new HPI-certified housing
Home Building Finance Ireland (HBFI) has launched a new green loan product offering a discount of up to 0.5 per cent on loans to home builders for developments certified with the Irish Green Building Council's Home Performance Index.
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The HBFI Green Funding Product is the “first Irish green financial product fully aligned to the Paris Agreement and EU taxonomy regulations,” the Irish Green Building Council said in a statement. In order to qualify for the discounted product all residential projects must be certified to the Home Performance Index standard.
The Home Performance Index was developed by the Irish Green Building Council as the first comprehensive sustainability certification for new Irish homes, and 3,250 homes have registered for certification to date. The certification goes well beyond BERs to address the broader environmental impacts of new homes such as the production of building materials, impact on ecology, pollution, water consumption and flood risk, while the scheme also recognises the passive house standard.
It also encourages home builders to improve the health of new homes by installing mechanical ventilation, improving daylighting and acoustics, and minimising harmful chemicals such as radon and VOCs. The partnership has been developed as part of the SMARTER Finance for Families initiative, funded by the EU Horizon 2020 program.
“We recognise the importance of sustainability in the delivery of new homes and with that in mind we are delighted to have launched the Green Funding Product, which provides a discount of up to 0.5 per cent on the loan rate that would normally be charged, for projects that are certified to the HPI (Home Performance Index) or an equivalent standard,” read a statement from HBFI. “We encourage any builders/developers seeking funding for residential projects to contact HBFI directly for further information.”