EBC welcomes steps taken by Parliament to support energy efficiency investment

On 3 April 2017 European Parliament’s ITRE Committee (Industry, Research and Energy) voted on the opinion regarding the extension and technical enhancement of the European Fund for Strategic Investments (EFSI), the so-called “Juncker Plan”, proposed by the European Commission.

According to the amendment voted by ITRE, at least 20% of EFSI financing shall be earmarked to support energy efficiency projects, prioritizing small-scale innovative projects in the building sector and putting special attention for projects eliminating social inequalities and energy poverty.

As a confirmation of the position the European Builders Confederation (EBC) took during the negotiations of the EFSI in 2015, the crafts and small enterprises of the construction sector strongly support the current European Commission proposal for EFSI 2.0 to put even more efforts and focus on environmental and sustainable goals. Riccardo Viaggi, EBC Secretary general said: “ITRE’s vote marks a major step forward. This is good news for construction enterprises and householders at the same time. We hope the broadly supported vote encourages the European Parliament’s Economic and Monetary Affairs (ECON) and Budgets (BUDG) Committees to follow track within their opinion. If approved, this amendment will significantly contribute to job creation and growth. It is pivotal in promoting new projects to reduce the energy consumption of the building stock and has the potential to trigger more interest of the private sector in financing energy efficiency projects. Householders who want to save energy and thus money will certainly benefit from it as well”.

Why is the renovation sector important?

Buildings currently account for 40% of EU primary energy demand – more than both transport and industry – and thus offer great possibilities for reduction. In fact the existing building stock on its own has the potential to reduce energy consumption by 61% by 2030, decreasing environmental pressure as well as Europe’s import dependence. Buildings emit about 36% of the total CO2 emissions of the EU. Reduced energy demand in better performing buildings will thus result in less combustion of fossil fuels and reduced CO2 emissions, leading to better air quality for EU citizens.
In order to observe the positive dynamic of the renovation sector please consult the infographic on our website.

European Fund for Strategic Investments – EFSI 2.0 in a nutshell

On 14 September 2016, the Commission proposed an extension of the duration of the Juncker Plan until 31 December 2020. The new proposal, referred to as EFSI 2.0, includes an increase in the EU guarantee from
€16 to 26 billion and in EIB capital from €5 to 7.5 billion, which should mobilise private and public investment of €500 billion over the period until 2020.