The untapped potential of firms’ energy efficiency
In 2019, EU firms reported only 38% of their commercial building stock to be of high or the highest energy efficiency standards. Yet since 2016, firms’ perceptions of the quality of their building stock has deteriorated. This seems to suggest that most of Europe’s existing building stock may not yet meet recently adopted energy performance requirements and that improvement of the stock in line with the new standards is still pending.
Key role of energy audits for energy efficiency investments
The share of firms investing in energy efficiency measures is considerably higher for firms with an energy audit than for those without one. 60% (74% in energy-intensive industries) of EU firms with an energy audit also invested in energy efficiency improvements, indicating that firms’ awareness of energy efficiency benefits is critical for the uptake of energy efficiency measures. Firms without an energy audit appear to invest substantially in areas other than energy efficiency, possibly because they fail to understand the potential direct and indirect benefits of energy-saving technologies.
For further information and interview requests, journalists are invited to contact EIB communications officer Jan Gerrit Wnendt (+352 691 284 340), j.wnendt@eib.org.
Background information:
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals. The EIB also supports investments outside the EU.
In 2019, the bank provided €11.7 billion for energy-related projects, of which €4.6 billion were for energy efficiency measures. Read more about the EIB’s climate and environmental ambitions here.
About the EIB Economics Department
The EIB Economics Department provides economic research and studies, as well as unique analysis of investment activities in the EU and beyond, and supports the Bank in its operations and in defining its positioning, strategy and policy. Chief Economist Debora Revoltella heads the Department and its team of 40 economists.
About the EIB Investment Survey (EIBIS)
The EIB Group Survey on Investment and Investment Finance is a unique annual survey of some 13 500 firms. It comprises firms in all EU Member States, as well as a sample of US firms that serves as a benchmark. It collects data on firm characteristics and performance, past investment activities and future plans, sources of finance, financing issues and other challenges that businesses face. Using a stratified sampling methodology, the EIBIS is representative across all EU Member States and the US, as well as across firm size classes (micro to large) and four main sectors. It is designed to build a panel of observations to support time series analysis – observations that can also be linked to firm balance sheet and profit and loss data. The EIBIS was developed and is managed by the Economics Department of the EIB, with Ipsos MORI providing development and implementation support.
For more information see: http://www.eib.org/eibis.
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