State of the Union address proposes 55% emissions reduction and confirms the delayed Renovation wave

Yesterday, European Commission President Ursula von der Leyen held her first State of the Union speech at the European Parliament. Von der Leyen announced the Commissions aim to increase the emission reduction target to 55% compared to 1990 levels by 2030 and revealed that 37% of the NextGenerationEU fund will be invested in European Green Deal objectives. She confirmed to kickstart the Renovation Wave aiming to turn the construction sector “from carbon source into a carbon sink” as become less wasteful and more sustainable.