The European Commission launched on Monday 11 May a consultation on its roadmap for the ‘Renovation Wave’ initiative.
Expected for the third quarter (see EUROPE 12480/18), this initiative aims to address the low rates of energy-efficient renovation of buildings in the European Union – the current weighted rate is only 1% – by at least doubling them in the coming years.
According to the Commission, by reducing energy consumption, the renovation of buildings will not only reduce greenhouse gas emissions, but also reduce energy poverty and improve citizens’ living conditions.
In addition, “this initiative will make a key contribution to creating jobs and stimulating economic recovery”, the institution adds.
This initiative will address the barriers to building renovation that have been identified by the ‘Energy Efficiency Financial Institutions Group’ (EEFIG) and encourage investment, focusing in particular on social housing, schools and hospitals.
Recalling that the EU’s housing stock is responsible for 36% of the Union’s greenhouse gas emissions, the Commission estimates that around €325 billion of additional investment per year, including around €250 billion for the residential sector and €75 billion for public buildings, will be needed to meet the EU’s energy and climate objectives for 2030.
This first consultation period will end on 8 June.
To access it: https://bit.ly/2WmGp1y (Original version in French by Damien Genicot)