As the world continues to seek ways of curbing carbon emissions, Europe is turning to the construction of eco-friendly buildings.
Consequently, the European Commission plans to double the EU’s annual rate of energy-related building renovations, which is currently just 1%, upgrading 35 million buildings by 2030.
Available data shows that a third of EU carbon dioxide emissions come from buildings.
Upgrading social housing alone would require an extra 57 billion euros ($67 billion) in annual investment, and EU support will come from a 672.5 billion euro section of its massive coronavirus economic recovery fund.
Central to the EU plan will be binding minimum energy performance standards for all existing buildings in Europe.