In January, the European Commission launched two calls for evidence linked to increasing public and private investment in energy efficiency.
In response to the first, we raised some key issues:
- The investment gap in efficient buildings,
- The importance of collaboration with financial institutions
- The lack of visibility on national funding for energy efficiency
And we called for:
- A specific budget line for energy efficiency
- Engagement with banks and private lenders through portfolio performance requirements
- More funding for energy efficiency with the next Commission
- The involvement of national ministries in hub meetings to present renovation program updates
- New financial instruments to support the renovation of inefficient buildings
Read our submission, ‘Assessing the level of EU & national funding for energy efficiency’ here.
In response to the second, we highlighted:
- That inaction in the building sector is impacting households and public finances
- The growing risk of energy poverty and credit risks for banks
- The huge amounts of money spent by member states to subsidise energy bills
And we called for:
- The EU to stimulate private investment through funds and create a Recovery and Resilience Facility 2.0
- The use of new tools to unlock private funding, engaging banks and private lenders
- The use of blended finance and technical assistance to leverage cohesion policy funding for energy renovations
- The creation of an EU Renovation Loan