The European construction industry, like many others, is confronted by an economy that isundergoing a highly significant change, shaped by megatrends such as greater urbanisation,disruptive new technologies and digitalisation, globalised value chains and sustainability.At the same time, the European economy faces the profound challenge of meeting theambitious climate mitigation goal set out in the Paris Agreement of keeping average globalwarming to well below 2˚C. A key question for this industry is how to ensure that, marriedto these other megatrends, can be treated as an opportunity for economic success andglobal leadership as much as an environmental challenge. Accelerating the pace of deepenergy renovation in the construction value chain - extensive building improvement workthat substantially increases energy efficiency and reduces energy consumption by 75% ormore - has a vital role to play in ensuring economic success and can help achieve theseother public policy goals. This report seeks to explore how it can be best done.