The Investor Confidence Project (ICP) is being extended in Europe to cover energy efficiency projects for industry, street lighting and district energy.
ICP is a framework for standardizing how energy efficiency projects are developed and how energy savings are calculated in order to make projects more attractive to investors and building owners.
It’s backed up by the Investor Ready Energy Efficiency
The ICP Energy Performance Protocols adopted by IREE-certified projects reference best practice project standards to be used in industry, district energy schemes and street lighting upgrades. These protocols allow for the standardisation of project origination, thus reducing transaction costs and improving project performance. This will lead to more projects completed and for greater impact.
“Since 2015, with the strong support of the European Commission, ICP has made great progress in introducing standardisation to building energy efficiency projects in Europe,” said Dr. Steve Fawkes, senior advisor, ICP Europe. “With additional support from the European Commission we look forward to extending the principles of ICP into industrial, street lighting and district energy projects.”
The expansion will be overseen by the ICP Europe Consortium, which includes EnergyPro Ltd; RdA Climate Solutions in Portugal and Spain; Serimus in Germany; Denskatt in Austria & Bulgaria; and Verco in the UK; as well as Energy Efficiency in Industrial Processes (EEIP) and GRESB, the global ESG benchmark for real assets, who will play a communication role to engage with the European investment market.
“We are pleased to see the successful ICP framework being extended into industry, street lighting and district energy.” said Lonneke Lowik, Head of Operations, GRESB.
The European Commission published an energy policy update in 2016 citing the ICP Europe protocols as “best practice” to maximize environmental performance in new buildings and investor interest and faith in buildings requiring energy efficiency building upgrade projects. In 2016, Green Business Certification Inc. (GBCI) and the Environmental Defense Fund (EDF) announced a strategic vision to work together to develop, deliver and promote the Investor Confidence Project (ICP) as the premier global underwriting standard for energy efficiency projects. ICP joined GBCI’s portfolio of credentials and certifications, which includes the LEED green building rating system, to accelerate investment in energy efficiency.