Certification of clean energy SMEs

The CONFESS project aims to accelerate sustainable energy investments in SMEs by developing a harmonized certification scheme aligned with the EU Taxonomy, enhancing access to sustainability data for financial institutions.

Subsidie
€ 1.731.161
2022

Projectdetails

Introduction

To tackle the increasingly damaging climate crisis, a profound transformation of Europe's economy, with a focus on decarbonising the energy system, will be critical. However, a transformation of the energy system will require massive investments, both by the public and private sectors.

EU Taxonomy and Its Challenges

In light of this, the EC has introduced the EU Taxonomy, an EU-wide classification system to re-orient capital flows towards sustainable economic activities. Yet, the potential to fully take advantage of this opportunity remains untapped, mainly for several reasons.

  1. SMEs make up over 99% of all businesses in the EU.
  2. They account for more than half of the EU's GDP.
  3. They represent a substantial market opportunity for small-scale renewable energy and energy efficiency improvements.

However, the vast majority of SMEs fall outside the EU taxonomy reporting obligations, resulting in financial institutions lacking access to sustainability data about SMEs.

Project Goals

The main goal of the CONFESS project is to mainstream and foster the maximum growth of sustainable energy investments by establishing a harmonised certification scheme for clean energy SMEs, building on the framework of the EU taxonomy.

Unique Approach

The uniqueness and impact of the project are due to its approach to building a certification scheme based on a profound exchange with various financial institutions (banks and select private investors) combined with rigorous analysis, work with certification bodies, and clean energy SMEs.

Stakeholder Engagement

Furthermore, regular engagement with the stakeholders will be implemented throughout the whole project and is essential in making the CONFESS certification scheme a widely-used tool for financial market participants to assess the sustainability of their energy investments.

Conclusion

Eventually, a faster upscaling of sustainable energy investments is achieved by ensuring that the final CONFESS certification product is created based on transparent certification metrics aligned with the EU's sustainable finance policy framework.

Financiële details & Tijdlijn

Financiële details

Subsidiebedrag€ 1.731.161
Totale projectbegroting€ 1.822.275

Tijdlijn

Startdatum1-11-2022
Einddatum31-10-2025
Subsidiejaar2022

Partners & Locaties

Projectpartners

  • RHEINISCH-WESTFAELISCHE TECHNISCHE HOCHSCHULE AACHENpenvoerder
  • RUSNOK & HERRMANN ADVISORS GBR
  • INTERNATIONAL SUSTAINABLE FINANCE CENTRE, ZU
  • CESKE VYSOKE UCENI TECHNICKE V PRAZE
  • CIRCULAR SRL
  • CLIMATE AND COMPANY PUBLIC AFFAIRS UG

Land(en)

GermanyCzechiaItaly

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