In line with its focus on ensuring the mortgage and finance industry is set up to harness the opportunities of the future, the Mortgage & Finance Association of Australia has accepted invitations to join two Government working groups on residential energy efficiency and vocational education and training.
MFAA is now a member of the Residential Energy Efficiency Disclosure Initiative (REEDI) Governance Forum and the Future Skills Organisation (FSO).
“Participating in these significant government initiatives gives us a seat at the table where decisions that will impact our industry are being made,” said MFAA CEO Anja Pannek.
“It ensures our members are included when policies and programs are created, and that our industry’s perspectives, insights and needs are heard.”
Leveraging brokers to reach energy efficiency targets
The MFAA is now a non-voting member of REEDI, a strategic project between the Federal, State and Territory governments to establish a national framework for disclosure of energy efficiency information for residential properties, facilitated by the Department of Climate Change, Energy, the Environment and Water.
The Australian Government has committed to net zero emissions by 2050, and a key objective of REEDI is to provide home energy ratings and information to home buyers, sellers and landlords about how to upgrade the energy efficiency of their homes through the Nationwide House Energy Rating Scheme (NatHERS).
NatHERS currently applies to new homes, but is being expanded to existing homes, making it applicable to even more broker clients.
“With more than seven out of ten home loans facilitated by mortgage and finance brokers, our members are well placed to help their clients understand the options available to increase the energy efficiency of their homes – saving them money in the long-term, increasing their property value and importantly contributing to a sustainable future,” said Ms Pannek.
“Furthermore, not only will brokers be critical assisting clients to obtain a NatHERS rating for their home, they will also be helping their clients to access ‘green finance’ products to fund energy efficiency home improvements,” said Ms Pannek.
“Being part of REEDI gives us the opportunity to ensure that our members are given the knowledge, tools and support to provide their clients with relevant information and timely guidance on this cornerstone government initiative.”
A skilled industry for the future
The Future Skills Organisation (FSO) is a Jobs and Skills Council established by the Australian Government to address the current labour and skills shortages while future-proofing the country’s vocational education and training sector.
FSO collaborate with industry to ensure that education in Australia’s finance, technology and business sectors is fit for purpose.
The MFAA has joined the FSO as an Associate Member to ensure the skills required for our industry are identified and the qualifications align to those skills. The skills brokers, and support staff, need is evolving with digital capability now being essential, as is an understanding of evolving technologies.
“Our industry has a lot to offer, it is also one that is well positioned to offer employment to groups such as women returning to the paid workforce after raising children. Groups like FSO are key to creating pathways for these people,” said Ms Pannek.
“Our membership of the FSO is aimed at bringing the needs of the mortgage and finance broking industry into focus so that funding and training pathways can be developed and appropriate education options are accessible.”
