Highest leverage, quickest roll-out and widest societal benefits: Ambitious building renovation projects are best-in-class for Strategic Investment
“European Fund for Strategic Investments must earmark funds for deep renovation projects” says building sector industry
A new report published today by Copenhagen Economics concludes that deep building renovation projects respond more effectively and cost-efficiently to the key operational objectives of the European Fund for Strategic Investments (EFSI), and recommends a project selection process providing priority to “shovel ready” investments with a quick roll-out and high rate of return on societal benefits.
The building sector industry associations Eurima, Glass for Europe, EuroACE, PU Europe and the Renovate Europe Campaign welcome this report as a clear sign that building refurbishment is one of the smartest, most cost-effective ways of mobilising investments for growth.
“The European Strategic Investment Fund aims to give priority to projects that boost short and mediumterm activity while providing high returns to society” said Adrian Joyce, Secretary General of EuroACE and Renovate Europe Campaign Director “and this report shows that building renovation can respond very effectively to all these requirements”
“Energy infrastructure-related projects are often put on the table when thinking of EFSI projects” added Bertrand Cazes, Secretary General of Glass for Europe “but building renovation projects should be given high priority if we take our building stock as an essential part of our energy infrastructure”.
“These substantial benefits should be recognised in the section criteria proposed in the EFSI operation” added Oliver Loebel, Secretary General of PU Europe “Relatively ‘shovel ready’ investments which can be quickly deployed and provide substantial societal returns must be given priority”.
“Both research and real experiences” added Jan te Bos, Eurima Director-General “have demonstrated that deep renovation of buildings are fully adapted to the main EU priorities: they reduce GHG emissions and import dependence, and provide great returns in terms of growth and jobs, as recognised in the recently adopted Energy Union Strategy. The EU Institutions must follow suit by ring-fencing a sub-fund in the EFSI which would be devoted to investments on large, deep renovation programmes”.