Greenhouse gas (GHG) emissions don't adhere to jurisdictional borders and neither does COVID-19. Both these challenges require global collaboration—and rethinking our built environment offers a way to address both simultaneously. Buildings contribute to nearly 27% percent of GHG emissions globally, and achieving the Paris Accords' goals requires reducing their climate impact via increased energy efficiency and clean energy sources.

Energy efficiency is also a crucial component of energy security and reduced building energy consumption—and related GHG emissions—contributes to a lesser exposure to fuel price volatility. What's more, accelerating building efficiency presents an enormous economic, societal, and environmental opportunity beyond energy savings. Retrofits helps modernize buildings, resulting in reduced emissions, improved air quality and occupant health, as well as in economic benefits due to reduced energy bills and creating local jobs which, by their nature, cannot be sent offshore. As we recover from the pandemic, we need to keep the power of building retrofits foremost in our minds.

The United States–European Union Energy Council has committed to reaching net zero emissions by 2050, and buildings are an essential component to this strategy. Over the past year, BPIE (Buildings Performance Institute Europe) and the Institute for Market Transformation (IMT) have been collaborating with the US Department of Energy (DOE), Housing and Urban Development, Delegation of the EU to the US, the European Commission Department of Energy, the German Embassy, and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH, to foster cross-jurisdictional dialogue.

This work has focused on how markets across the globe can design, carry out, and benefit from building retrofits in ways that strengthen transatlantic recovery from the pandemic while meeting the goals laid out in the Paris Agreement.

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