A Renovation Wave for Europe: Greening Our Buildings, Creating Jobs, Improving Lives

The European Commission’s Renovation Wave Strategy takes actions in greening the building sector in areas including: Boosting Building Renovation for Climate Neutrality and Recovery; Adopting an Integrated Strategy with Principles that include Energy Efficiency First, Affordability, Decarbonization and Integration of Renewables, Lifecycle Thinking and Circularity and High Health and Environmental Standards; Delivering Faster and Deeper Renovation for Better Buildings and Reinforced, Accessible and More Targeted Funding in order to address the estimated €275bn investment gap in building renovation which is needed to achieve the 55% climate target by 2030.

The Recovery and Resilience Facility is expected to support renovation investment and energy efficiency related reforms across Member States. The European Council has agreed to endow the facility with €672.5bn, 37% of which is targets climate-related expenditures.