An Action Plan for the Renovation Wave: Collectively achieving sustainable buildings in Europe
BPIE developed a set of recommendations for all stakeholders which could support economic recovery post COVID-19, and trigger a renovation wave and achieve climate-neutrality for Europe’s building stock by 2050: An Action Plan for the Renovation Wave: Collectively achieving sustainable buildings in Europe.
The fragmented nature of the building sector makes its transformation extremely complex. Challenges include diverse value chains, ownership relationships, local regulations and the involvement of different stakeholders at separate stages of the lifecycle, who rarely interact directly with each other.
The renovation wave requires joined-up thinking and contributions from every actor in the value chain. However, these multiple actors are often uncoordinated and have conflicting interests and motivations; they adapt their actions and behaviours to different triggers and drivers. For example, a clear long-term regulatory framework is a trigger for capital markets to invest in building renovations, the provision of tailored advice and support for building renovations is one of the drivers for private homeowners to renovate their buildings, while the existence of easily accessible funding streams coupled with technical assistance is a driver for local authorities to renovate their building stock.
The European Commission must first and foremost create the right framework to mobilise all the different actors and make sure that their actions are aligned for the renovation wave. The building sector can successfully contribute to the EU climate neutrality objective only if all actors move in the same direction.