Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The continent’s buildings urgently need upgrades to become more energy efficient, the European Commission will say today. The so-called “renovation wave” strategy is another brick in the wall of rules, guidelines and financing tools that will drive the transition to a zero-carbon economy, otherwise known as the European Green Deal. As we reported previously, the bad news is that the ambition to double the renovation rate of the continent’s building stock will cost a lot  some 275 billion euros a year in additional investment, by the Commission’s own estimates. The good news is that renovation has been identified as one of the “flagship” priorities of the recovery fund, meaning that governments will be forced to co-finance the expenses if they want to tap the proceeds from the jointly-backed pot.

Nikos

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Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

Euro-area finance ministers plan to say today who will fill the only vacancy on the European Central Bank’s top team for the next five years. While the appointment had offered a unique opportunity to achieve gender balance among the six members of the executive board, both of the contenders are male. That may prove contentious in the European Parliament, which has long taken issue with the lack of female representation at the ECB’s highest levels (the remaining 19 members of the broader governing council are men, too). The parliament can only hold up ratification for a while  though lawmakers could create further problems down the line. Still, even as the central bank seeks to fix imbalances in its ranks, the acute shortage of women among its top decision-makers can

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