The revised directive on the energy performance of buildings moves a step closer to the finish line with the reaching of a provisional agreement. The changes include goals for the renovation of residential and non-residential buildings and the gradual phasing out of heating with fossil fuels. Banks are expected to play a key role in financing the transition.

The European Union has created a strategic program to combat climate change and transform the EU economy into a climate-neutral, green and fair society. The European Climate Act enforced in 2021 marked the main commitment to the transition by making the reduction of greenhouse gas (GHG) emissions in the EU by 2030 a legal requirement.

To achieve this, a set of proposals for revising and updating EU legislation has been introduced through the "Fit for 55" package. The legislation proposed amendments in 12 different policy areas ranging from land use and forestry to aviation and maritime transport. One of the most conditional points is the revision of the Energy Performance of Buildings Directive (EPBD), as it contains economic, social and financial characteristics.