2nd International Roundtable of the RENOINVEST Project
Advancing Sustainable Building Renovation Across Central Europe
Theme: Sustainable renovation of buildings with the focus on financing building renovations
Date: March 31, 2025
Location: ÉMI, Szentendre, Hungary (Hybrid Format)
The second international roundtable of the RENOINVEST project brought together leading experts, policymakers, and financial actors from Austria, Hungary, and Slovenia to address one of the most pressing challenges in the built environment: how to accelerate energy-efficient building renovation through effective financing solutions and technical innovation. The event was opened by Dr. Anita Terjék, the scientific leader of the Renoinvest project, who conveyed the greetings of Renáta Határ, Deputy State Secretary at Hungary’s Ministry of Construction and Transport and CEO of ÉMI Non-profit Ltd. The opening was followed by a project update from coordinator Dorottya Hujber.
Bringing together national experts and cross-sectoral perspectives, the international roundtable served as a vital platform for mutual learning, showcasing best practices and actionable strategies for financing deep building renovations under the revised Energy Performance of Buildings Directive (EPBD Recast). It also underscored the urgent need to mobilize both public and private investment, align policy with technical implementation, and strengthen cross-border collaboration to achieve the EU’s 2030 climate and energy targets.
Turning Policy into Progress: EPBD Recast as an Enabler of Finance
In the opening session, Afroditi Psatha, Project and Events Manager at the Renovate Europe Campaign, presented a compelling overview of the financing mechanisms and opportunities enabled by the EPBD Recast. Psatha underlined the significance of national Building Renovation Plans (BRPs) and Minimum Energy Performance Standards (MEPS) in establishing long-term regulatory clarity and investor confidence. “Renovation is not a cost, but an investment,” she said, urging a paradigm shift in how governments, financiers, and citizens perceive renovation. Her presentation emphasized that ambitious and timely implementation of the EPBD can unlock a flow of investment into renovation projects, blending EU funds, national support mechanisms, and private capital.
Strategic Financing in Practice: European, National and Private Sector Perspectives
Martin Weber Head of Real Estate Department of Erste Bank Austria presented their cooperation with the European Investment Bank (EIB) and provided insight about the Bank’s commitment to supporting residential green renovation projects through innovative tools such as green mortgages, on-bill financing schemes, and capacity-building for local financial intermediaries. These instruments aim to lower perceived risks and create scalable financing models that align with the EU’s Green Deal and Renovation Wave objectives.
From the national side, Roland Papp, Head of Housing Policy Development at the Ministry of National Economy, introduced Hungary’s integrated renovation support system. The Home Renovation Program, with more than 5,000 applications since July 2024, provides energy upgrade grants and interest-free loans. A new Rural Home Renovation Program expands access to smaller communities and older populations. Furthermore, Hungary’s Housing Capital Program (300 billion HUF) aims to finance the construction of 30,000 homes via real estate funds and PPPs, linking renovation with affordability.
Rok Jereb Head of Implementation of B2C Energy Solutions of Petrol Group (Slovenia) contributed private-sector insights, presenting energy service contracting models that reduce financial barriers for homeowners, including energy performance agreements (PPA), public-private partnerships, and ownership-based renovation systems. These models aim to balance upfront investment with guaranteed energy savings and long-term cost stability.
Panel Discussion: Renovation and Green Finance in Central Europe – Challenges and Opportunities
A high-level panel discussion, moderated by Wolfgang Amann CEO of the Institute for Real Estate, Construction and Housing, brought together leading voices from the public and private sectors to explore the challenges and opportunities surrounding green finance and large-scale energy renovation in Central Europe.
Panelists included:
• Martin Clemens Weber, Erste Bank und Sparkasse (Austria)
• Roland Papp, Ministry for National Economy (Hungary)
• Dr. Gyula Nagy, CEO, MBH Mortgage Bank (Hungary)
• Rajné Adamecz Ildikó, Financial Expert, Archenerg Cluster (Hungary)
• Boštjan Udovič, Chamber of Commerce and Industry of Slovenia
The discussion brought forward a shared understanding: to meet the EU’s 2050 climate targets, Central Europe must move beyond fragmented and subsidy-dependent renovation efforts and adopt integrated, market-driven approaches. Panelists emphasized that public funding should act as a catalyst to mobilize private capital—rather than act as a stand-alone solution.
The Slovenian experience was presented as a cautionary example, where generous grants have unintentionally crowded out private investment and reduced homeowner initiative. Hungary faces its own challenges, particularly in terms of structural tax disincentives—such as a 27% VAT on renovations—and short-term subsidies that don’t reflect the long-term return on deep renovation projects. In contrast, Austria demonstrated how combining legal reform, long-term financing instruments, and social safeguards can lead to a more accessible and scalable renovation ecosystem.
Panelists also addressed the limitations of current green finance instruments. The EU Taxonomy, while conceptually valuable, is often considered too complex for practical application—especially for small and medium-sized enterprises. In Hungary, green loan offerings remain limited in scope and impact, providing only marginal incentives for homeowners.
The discussion concluded with agreement on four fundamental pillars for unlocking large-scale renovation: effective subsidies, accessible financing, enabling legislation, and widespread public awareness. Of these, awareness was viewed as the most critical. Without informed and engaged property owners, even the most well-designed support schemes risk underperformance. The panel’s final message was clear: only integrated, people-centered solutions that bring together financial, technical, and social elements will ensure lasting progress.
For a detailed overview of the full panel discussion, please visit our website.
Technical Solutions for Deep and Inclusive Renovation
In the second half of the program, four technical presentations reinforced the importance of quality, integration, and user support in delivering high-performance renovations:
- Austria: Arch. DI Magdalena Donà presented the Baurettungsgasse initiative’s Renovation Coach model, helping homeowners navigate planning, financing, and implementation with the support of a multidisciplinary network and Raiffeisen Bank.
- Hungary: Gábor Lekics showcased energy audits, certification-led renovations, and circular material reuse. His case studies of public and residential buildings demonstrated energy class improvements through insulation, triple glazing, solar integration, and HVAC upgrades.
- Slovenia: Vladimir Gumilar detailed the national rollout of One-Stop-Shop (OSS) solutions under the Renov-AID LIFE project, emphasizing the value of streamlined services and digital tools.
Dr. Marjana Šijanec Zavrl presented Slovenia’s comprehensive strategy for sustainable renovation, including the deployment of the LIFE IP CARE4CLIMATE initiative, professional upskilling through trajnostnagradnja.si, and the introduction of life-cycle-based building standards (SLO SBI).
Panel Discussion on Sustainable Renovation of Buildings Highlights Regional Expertise and Practical Solutions
The panel discussion, moderated by Lili Béres, Head of the Construction Knowledge Centre Office at ÉMI Non-profit Ltd., offered a dynamic and insightful exchange among professionals from Hungary, Slovenia, Austria, and other European countries on the topic of sustainable building renovation. The roundtable brought together leading experts, including:
- Arch. DI Magdalena Donà (Atelier Magdalena Donà, AT),
- Tamás Csoknyai PhD, DSc (Head of Department of Building Services and Process Engineering, Budapest University of Technology and Economics, HU),
- Gábor Lekics (architect and building energy certifier, Lekics Engineering Office, HU),
- Marjana Šijanec Zavrl (Head of Centre for Indoor Environment, Building Physics and Energy, Building and Civil Engineering Institute, SI),
- Vladimir Gumilar (Director, Slovenian Construction Cluster – SGG, SI), and
- Dr. Alenka Mauko Pranjić (Head of Division for Materials, Slovenian National Building and Civil Engineering Institute – ZAG, SI).
The conversation highlighted practical experiences and differing perspectives from both the public and private sectors, with particular focus on the role of renovation coaching, independent advisory networks, and the integration of sustainability principles into policymaking and engineering practice.
Panelists explored how financial, environmental, and social aspects intersect in renovation processes, discussing key factors such as energy efficiency, lifecycle thinking, user comfort, and affordability. The debate also addressed the challenge of aligning calculated and actual energy savings—particularly in light of the rebound effect—and underscored the importance of long-term monitoring and realistic baseline assessments.
Several speakers emphasized the role of education, data transparency, and legislative pressure in driving progress, while others stressed the cultural dimension of sustainability—highlighting the importance of preserving embodied energy and architectural heritage. The discussion concluded with a call for stronger cross-sectoral collaboration, greater trust in advisory systems, and more inclusive, user-focused renovation policies to truly scale up sustainable renovation across the region.
Conclusion: Action, Awareness, and Accountability
The second international RENOINVEST roundtable underscored a central message: while policies, funds, and technologies exist, coordinated implementation, strategic financing, and citizen engagement are the true levers of large-scale renovation. The coming years will determine whether Central Europe can move from pilot projects to mainstream transformation.
