The Institutional Investor’s Group on Climate Change (IIGCC)[1] called (9th March) on the European Commission, in the context of upcoming legislative reviews, to set a binding long term goal to bring the entire EU buildings sector up to a nearly-zero energy standard by 2050. This call is entirely consistent with the ambition of the Renovate Europe Campaign, which adds its voice to the call.

“To see an investor’s group which holds over €13 trillion of assets under management, calling for ambitious action on the energy renovation of buildings is very encouraging for our work” said Adrian Joyce, Campaign Director “It demonstrates that our calls for such action are resonating across sectors and have reached one of the most crucial actors for success – the financial sector.”

The call from the IIGCC is contained in a short paper that it released on the 11th March, entitled Transforming the sustainability of Europe’s Building Stock. The paper is the response of the IIGCC to the current revision of the key pieces of EU Legislation in the field: the Energy Performance of Buildings Directive and the Energy Efficiency Directive.

The central position of the IIGCC is that “continuous improvement”, a concept taken from operations management, can be applied successfully to energy efficiency efforts in the building sector. It goes on to say that with the right mix of regulation and incentives, the IIGCC believes that it will be possible to decarbonise the European property sector by 2050.

For further information see: Transforming the Sustainability of Europe’s building stock

[1] See: