In an increasingly complex, but inter-connected society that faces the great challenge of achieving a fair and effective energy transition as part of our fight against climate change, joining forces is more important than ever. And this is the case in all policy areas including in our efforts to identify where the financing will come from.
For EuroACE, another issue that is just as important is how do we make sure that the financing targets the rights actions and projects? For example, we can say that on energy efficiency in buildings, the right policies are now in place at EU level and Member States have started the process of transposing the latest amendments into national laws. Therefore, they must put effective, well-resourced instruments in place at national level.
To achieve our long-term objective of creating a highly energy efficient and decarbonised building stock, the upcoming decade will be crucial, and we will have to accelerate actions and ambition levels in the buildings sector. Concerted effort across stakeholder communities is needed to make the transformation of our building stock possible and affordable for all.
Several ongoing initiatives will unlock more financing. For example, the EU institutions are currently negotiating the next period of the Multiannual Financial Framework, which includes several opportunities for energy efficient building renovation, such as InvestEU and the European Regional Development Fund.
The European Investment Bank is currently reviewing its Energy Lending Policy, and financial institutions are discussing a new taxonomy for sustainable investments. Some projects, such as the Energy Efficient Mortgage Action Plan (EeMAP), focus on developing loans for energy efficient renovation works linked to the purchase of an existing property. The Sustainable Energy Investment Forums continue to organise events across the EU to engage dialogue with the financial sector, public authorities and other stakeholders.
We are encouraged that things are moving in the right direction and EuroACE is participating in several of these initiatives. However, if we want to make the energy transition happen in a timely manner and thus shape Europe’s energy future, then we must join forces and work more collaboratively together across stakeholder communities.
This article is a contribution from a EUSEW Partner. All rights reserved.
Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use that might be made of the information in the article. The opinions expressed are those of the author(s) only and should not be considered as representative of the European Commission’s official position.
EuroACE represents Europe’s leading companies involved with the manufacture, distribution and installation of energy saving goods and services for buildings. EuroACE members employ around 286,000 people in these activities in Europe and have around 1,200 production facilities and office locations. The mission of EuroACE is to work together with the EU institutions to help Europe move towards a more efficient use of energy in buildings, thereby contributing to Europe’s commitments on climate change, energy security and economic growth.