EU Renovation Wave Strategy: Matching sustainability with style
Image: Sandro Katalina
By Tom Carter, Senior Associate
The European Commission has released a Renovation Wave Strategy to improve the energy efficiency performance of buildings. The Commission aims to at least double the number of building renovations over the next decade, with a focus on ensuring the retrofitted structures feature enhanced energy and resource efficiency.
Objectives of the strategy
Reduce greenhouse gas emissions
Improve the reuse and recycling of materials
Foster digitalization
Enhance the quality of life of people living and working in the buildings
The Commission estimates that the strategy could result in the renovation of 35 million buildings and the creation of 160,000 green construction jobs by 2030.
Why it matters to businesses
Building operations consume over a third of the EU's energy and, therefore, are responsible for over a third of Europe’s greenhouse gas emissions. Historically only one percent of buildings undergo energy efficient renovation every year, and roughly 34 million Europeans are unable to afford keeping their homes heated. The Renovation Wave Strategy is accompanied by a Recommendation for Member States on tackling energy poverty.
Specific actions included in the strategy are designed to create:
Regulations, standards and information on the energy performance of buildings to set better incentives for public and private sector renovations,
Targeted public funding and incentives for private financing
Technical assistance to prepare and implement renovation projects
Expanded markets for sustainable construction products and services
Neighbourhood-based approaches for local communities to integrate renewable and digital solutions and create zero-energy districts
An Affordable Housing Initiative
A New European Bauhaus, an interdisciplinary project co-steered by experts including scientists, architects, designers, artists, and planners
Impact on the EU Green Deal
The Renovation Wave will be coordinated with multiple elements of the European Green Deal, particularly the Renewable Energy Directive and the EU Emissions Trading System. Beyond making existing buildings more energy efficient and climate neutral, the Renovation Wave is designed to help transform European cities and the built environment by matching sustainability with style.
Read more about our perspective on the EU Green Deal here.