We think that the postponement of one year of the phasing out of investments in fossil fuel energy projects is a long time, because the risk to lock in investments in infrastructures that are not compliant with the Paris Agreement is still there. Now it is up to industry, local authorities and civil society organisations promote energy efficiency projects and demonstrate they are a viable and more profitable options than fossil fuels projects. 

We are committed  to work with the EIB and help delivering the 2030 energy efficiency target. The Building Renovation Initiative is a very good opportunity to cooperate in an area with high energy efficiency potential. We must work together and promote projects aggregation, targeted financial support, new business model and technical assistance, in order to increase the annual building renovation rate to 3%.

 

Monica Frassoni, President, European Alliance to Save Energy (EU-ASE)
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