Leveraging carbon revenues in the EU Renovation Wave


Background The European Green Deal calls for a just, clean energy transition and makes a commitment to ‘leave no one behind.’ The state of EU buildings creates a dual challenge for decarbonising the 27 EU economies. First, buildings account for 40% of EU energy demand and 36% of greenhouse gas emissions, with those average figures varying widely from country to country. Second, inefficient homes are the main reason some 50-100 million EU citizens currently live in situations of energy poverty. Considering that 97% of EU buildings need some level of energy renovation, some estimates put the cost at €300 billion per year for the next 30 years – €1 billion per day, every day until…