Alinnea presents the report “Financial vehicles for building renovation and decarbonization”, the outcome of a working group on Building Renovation held throughout 2024. The document provides a strategic overview of the financial mechanisms needed to accelerate the energy renovation of Spain’s building stock while ensuring climate justice.
The working group, promoted by Alinnea under its urban transition agenda, brought together a broad range of actors from the climate and financial ecosystems: financial institutions such as CaixaBank, BBVA, and Ibercaja; foundations like the European Climate Foundation; public bodies such as ICO and MITECO; NGOs such as ECODES and the Red Cross; knowledge centers like BC3; cooperatives such as REVO Prosperidad Sostenible; and sustainability experts including GBCe and Urban Climate Economy. Between May 2024 and January 2025, over seventy participants took part in the sessions.
The report analyzes in detail the key challenges to financing building renovation: high costs, lack of guarantees, reliance on subsidies, weak inter-administrative coordination, low feasibility of isolated operations, limited training, and insufficient support for vulnerable households. It also highlights opportunities such as sovereign funds, energy savings certificates (CAEs), crowdfunding mechanisms, and the reforms to the European Energy Efficiency and Buildings Directives (EED and EPBD).
In terms of recommendations, the report proposes institutionalizing public commitment through a coordinating agency, setting up territorial support offices, reforming subsidy criteria, strengthening the role of the energy sector, creating specialized training programs, developing a planning system for renovation needs, and reinforcing communication and impact evaluation. These measures aim to combine effective climate action with social fairness and align efforts with Spain’s NECP objectives for 2030.
With this publication, alinnea reinforces its commitment to inclusive and transformative climate action, aimed not only at reducing emissions and improving the energy efficiency of the building stock, but also at ensuring social accessibility and the economic viability of households and urban communities.
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