Accelerating the just energy transition in the real estate sector: Energy efficiency amid an energy crisis
Contribution to the HYPOSTAT 2022: A Review of Europe’s Mortgage and Housing Markets report.
Economies across the world are facing the triple challenge of intensifying climate change, energy supply vulnerabilities due to the ongoing war in Ukraine and cost pressures to businesses and households as a result of rising interest rates and inflation, particularly in fuel and food. The imperative to accelerate the just energy transition is now even stronger in the face of these challenges. This contribution to the European Mortgage Foundation’s report HYPOSTAT 2022: A Review of Europe’s Mortgage and Housing Markets presents data and evidence on the need for steadfast policy action to foster the transition to a low-carbon economy to meet agreed climate change targets within relevant timeframes. The real estate sector is particularly important in this endeavour, since it accounts for a large share of energy consumption and CO2 emissions around the world, essentially in relation to the cooling and heating of buildings, as well as the use of domestic appliances. This transition will require investments in sustainable energy and improvements in the energy efficiency of buildings. Moreover, this contribution explores how to do so, focusing on the role of policy-makers and financial institutions and highlighting some of the opportunities and challenges, exploring how the latter can be addressed.
Luiz de Mello (OECD) and Danae Kyriakopoulou (LSE), European Mortgage Federation (EMF) 2022.