The aim of the session is to present the Renovation Wave initiative, how it can help in the recovery process and ensure the EU delivers on its climate and energy objectives. With the buildings sector being the largest energy consumer, through regulatory and financial support the Renovation Wave initiative will aim to at least double current renovation rates.
The Commission has set up a clear vision of how to achieve climate neutrality by 2050. The biggest challenge is the renovation of the existing building stock, where 75% of buildings are inefficient. Today the annual renovation rate of the building stock varies from 0.4 to 1.2% between Member States, with an average 1% renovation rate across the EU. This rate needs to at least double to reach the EU’s energy efficiency, renewables and climate objectives.
The COVID19 crisis introduces a new element, impacting the construction sector. Whilst the Recovery Plan will bring substantial additional financial support for building renovation, this needs to be matched with new projects entering the pipeline quickly. The session will feature a state of play on the preparations for the Renovation Wave initiative, which is planned for adoption after the summer.
The session will set the scene for the Renovation Wave, showcasing how it will
a) contribute to the EU’s climate and energy objectives for 2030 and 2050
b) contribute to the post-COVID19 recovery and bring direct returns on well-being and health of people
c) bring long-lasting remedy against energy poverty
d) boost innovation in new and sustainable technologies
The first part of the session will introduce the core aspects of the Renovation Wave initiative. This will be complemented by presenters giving the EU, national, local and stakeholder perspective.
The second part of the session will concentrate on synergies with closely related work lead by other DGs in particular on skills, the sustainable built environment and finance.
The session will bring decision makers and stakeholders from the whole building sector (designers, developers, construction companies, to engage in further actions to rise renovation rates, enhance quality and bridge the urgent gap between project development and finance.