Figure 1.10 Reaching climate neutrality

forestation or direct air capture and storage technology10 . In the case of limiting warming to 1.5°C, the CO2 emissions needs to reach net-zero between 2044 and 2052, while total GHG emissions must reach net-zero between 2063 and 2068[10, p. 2]. Therefore, there is an urgent need to quadruple the solar and wind capacity by 2030 and triple renewable energy investments to maintain a net zero trajectory by mid-century.

Figure 1.10Reachingclimate neutrality[11]

The International Environmental Agency (IEA) estimates that 85% of the building stock needs to be net-zero compliant by 2050, meaning that all new buildings need to be net-zero by 2030 and the existing buildings to be net-zero retrofitted by 2050. In order to achieve the goals for net-zero carbon buildings by 2050, the IEA estimates that there is a need to decrease by 50% the direct building CO2 emissions and indirect building sector emissions decline through a reduction of 60% in power generation emissions by 2030. This means that in the period of 2020-2030 the yearly reduction of building related emissions should be 6%[4].

In July 2021, the European Commission submitted a proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on energy efficiency (recast)[12] stressing the importance of energy efficiency as a key area of action for achieving full decarbonisation of the Unions` economy.

10 https://www.wri.org/insights/net-zero-ghg-emissions-questions-answered