Are you seeking low risk investments which offer high returns, stimulates growth and creates local, long-term jobs for your national economy? Then look no further than energy efficiency in buildings and seize the opportunity to support strong provisions for buildings in the EU Energy Efficiency Directive.

This is the advice the Renovate Europe Campaign has addressed to the 27 EU Finance Ministers in an Open Letter. Supported by a broad coalition of leading companies and associations, the Renovate Europe Campaign calls for the deep renovation of the EU building stock in order to achieve an 80% reduction in its corresponding energy demand by 2050 as compared to 2005 levels. The inclusion of National Renovation Roadmaps and the support for a 3% annual renovation rate for all public buildings are two of the strong provisions for buildings which must be maintained in the EU Energy Efficiency Directive if we are to achieve these energy demand reduction objectives and kick-start the European economies, in addition to reaching the EU’s 2020 climate protection goals.

Basing its arguments on reliable studies from various countries, which show that for every €1 of public resources invested in energy efficiency in buildings a resulting return on investment of up to €5 occurs, the Renovate Europe Campaign calls on the EU Finance Ministers to take stock of the economic benefits which result from energy efficiency in buildings and to take appropriate action to invest in this no-regret option. Finance Ministers must ensure that strong provisions for buildings are not watered down during the current negotiations of the EU Energy Efficiency Directive with the Council of Ministers, given the highly profitable nature of the investments in energy efficiency in buildings.

“Energy efficiency in buildings is a sector which has traditionally been left within the realm of Energy and Environment Ministers”, explained Adrian Joyce, Campaign Director of Renovate Europe. “But with an increasing amount of studies demonstrating the real economic opportunity and high return on investments ensuing from deep renovation programmes, energy efficiency in buildings is starting to appear on many finance radars as a low risk profitable investment which yields high returns. This is a call for Finance Ministers to support strong provisions for buildings in the Energy Efficiency Directive, to ensure that this opportunity to boost market confidence is not missed”.

The Campaign’s aim of raising awareness about the economic benefits of investing in energy efficiency in buildings will culminate with this year’s Renovate Europe Day scheduled on 11 October 2012 in Brussels.

End

The Renovate Europe Campaign is an initiative of EuroACE, the European Alliance of Companies for Energy Efficiency in Buildings. Its headline objective is to reduce the energy demand of Europe’s building stock by 80% by 2050 as compared to 2005 levels

Note to Editors

Launched in 2011, the Renovate Europe Campaign is an initiative of EuroACE, the European Alliance of Companies for Energy Efficiency in Buildings. Its headline objective is to reduce the energy demand of Europe’s building stock by 80% by 2050 as compared to 2005 levels. Learn more about the campaign on www.renovate-europe.eu

Renovate Europe Participating Contributors