As part of the renovation wave, 35 million non-energy-efficient buildings are to be renovated by 2030 in order to reduce emissions by at least 55% by 2030 and lay the foundations for a climate-neutral Europe by 2050. Buildings account for 40% of energy consumption in the EU and 36% of greenhouse gas emissions in the EU. Two thirds of buildings in Europe are not energy efficient. Between 85% and 95% of existing buildings in the EU will still be standing in 2050. Despite this, only 1% of buildings in Europe are renovated each year to reduce energy consumption! A wave of renovation is significant as it will reduce energy consumption and cut emissions. It also creates jobs, which in turn helps to boost the economy. The renovation wave will reduce the energy costs of many households, improve their quality of life and at the same time ensure a just green transition.