The ROCKWOOL Group: Unlocking the Benefits of Building Renovation

Analysis by Cambridge Econometrics for The ROCKWOOL Group reveals key policy solutions that could help deliver building renovation at a global scale, and unlock a host of environmental, economic and social benefits. 

Following the consultation of 40 international renovation stakeholders including policymakers, industry leaders and financial institutions, four key areas of policy solutions were identified as essential next steps if energy efficient buildings are to contribute towards successful decarbonisation of economies. 

  • A framework that is fit for purpose – stakeholders across policy, industry, finance, citizens, and local authorities must work together to design better renovation programmes that ensure correct resource allocation. 
  • Outcome-oriented focus – resources should be directed towards deep renovation projects over high-volume, light-touch measures. 
  • Effective delivery – adequate administrative and technical support should be available for local government to help roll out delivery.
    • At the same time, investment in workforce training is needed to attract and upskill labour, and encourage policy-industry collaboration to forecast the renovation pipeline in order to avoid delivery bottlenecks. 
  • Communicating with consumers – impartial awareness and information campaigns which highlight the benefits of renovation are needed to support building owners. Support for building owners that ensures a smooth consumer journey is imperative. 

The report highlights that essential pieces of the building renovation puzzle are in place; there is political will to decarbonise buildings, and there is more and more public and private capital available to support building-owners and their projects. 

However, policymakers should seek to adopt the solutions outlined above to ensure that policy implementation reflects the needs of the different actors in the market. Fine-tuning policy in this way will help to turn aims into achievements and deliver a low-carbon and less energy-intensive housing stock which can play a major role in helping economies decarbonise. 

 

Jon Stenning Associate Director js@camecon.com