With the Renovation Wave Strategy, the European Commission aims to at least double renovation rates in the next ten years and make sure renovations lead to higher energy and resource efficiency. This will enhance the quality of life for people living in and using the buildings, reduce Europe’s greenhouse gas emissions, foster digitalisation and improve the reuse and recycling of materials.
For supporting this overarching aim the European Commission plans to further improve the EU Energy Performance of Buildings Directive (EPBD) having foreseen in its 2021 work programme a legislative proposal to revise the EPBD, together with an accompanying impact assessment, to be adopted in Q4 2021.
What’s at stake for Energy Performance Certificates?
According to Building Performance Institute Europe, these are the most salient aspects in the EU Renovation Wave Strategy reinforcing the role of Energy Performance Certificates:
An additional noteworthy development is soon to become the intrinsic link between Energy Performance Certificates and financing dealt with also via the Platform on Sustainable Finance assisting the European Commission in developing its sustainable finance policies, notably the further development of the EU taxonomy (classification system, establishing a list of environmentally sustainable economic activities). The renovation wave is considered an opportunity to spur the development of green loan and mortgage financing.
An upgraded system of Energy Performance Certificates demonstrating efficiency gains will allow banks and other financial institutions to offer credit and mortgage financing to green their portfolios and to pool buildings as collateral for the issuance of covered bonds. Several market-led initiatives are already piloting innovative schemes for energy efficiency loan and mortgage financing. In the next step, whole life-cycle carbon can be included in this assessment and linked to financing for circular solutions.
Against this backdrop, the four ongoing Horizon 2020 Innovation Actions started in 2020 (H2020_LC-SC3-EE-5-2018-2019) would like to share insights into their activities supporting the evolution of current building performance schemes and the overarching roll-out of the Renovation Wave Strategy in a lively and informative panel discussion moderated by EuroACE with several key issues in mind, among others, “What is needed to strengthen the information role of EPCs?”, “What is needed to improve the quality of EPC?”, “What is needed to improve the coverage of EPC?”.