EUSEW SESSION: Smart Cities Marketplace & oPEN Lab – Turn the Finance on!

13 June 2024

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09:30-11:00

Brussels - online

Bridging policy and finance perspectives, this session hosts leaders from across the finance sector to offer and discuss their proposals on what is needed from policy to make finance flow into energy-efficient measures for decarbonised homes and buildings.

The building renovation sector is one of the sectors faced with the largest investment gap in the EU. With the European Union’s ambitious building renovation strategy, the Renovation Wave, it aims to double the renovation rate across the continent. Associated costs are estimated at €275 billion per year. Although important in driving change, public financing will not meet this demand – broader financial markets must fill this gap. 

This poses a particular problem for deep energy renovation, where high levels of renovation are interwoven with active energy assets. These are not easily financeable in the market as they are perceived as risky assets, presenting a challenge for homeowners looking to renovate their property, as borrowing rates are high owing to the perceived risk. 

How can policy take on these barriers? This EUSEW Policy Session brings together practitioners from the finance and housing industry to explore what is needed from policymakers at the national and European level to increase the attractiveness of renovation funding.

Speakers representing both the private and public spheres will each present a short pitch on the specific levers that must be pulled to make finance flow. This will be followed by a moderated discussion identifying points of agreement and contention. The session will finish with an opportunity for policymakers to put their questions to the panel. 

Hosted by the Smart Cities Marketplace and the Horizon Europe-funded energy renovation initiative oPEN Lab, this session zooms in on a key operational barrier holding the EU back from speeding up the green transition – financing renovation and renewables all across Europe. By bringing finance to the policy stage, the two organisations hope to show how these two levers for transition can work together to get the right resources behind ambitions for a greener Europe.