Social Housing Energy Efficiency Renovation Programme (SHEER) is carried out by the D.V.D. company. The company has developed a Global Environmental Social Business (GESB) mechanism and completed energy efficiency renovations in around 45 pre-fabricated apartment blocks in Budapest and other Hungarian cities. The renovations include installation of new heating systems, windows frames, and insulation of walls, basement and roofs. Solar panels and passive housing standards are planned to be the next step in the development.
The role of the company is develop and manage the renovations by providing financial guarantees, developing portfolio for the banks, recovering loan defaults, collecting common costs and disseminating the information. The company follows a social business model which is reflected in the reinvestment of profit into new projects and benefits for middle-low income tenants who would not be able to implement energy efficiency renovations otherwise.