The built environment has a significant impact on a multitude of sectors, on local jobs and on quality of life. The construction sector accounts approximately for 50% of materials extracted in Europe, and is responsible for more than 35% of Europe's waste.

The momentum to act is now as demonstrated by COP26, the EU green Deal, the CE Action Plan (CEAP) and its ongoing Strategy for the Built Environment, the Action plan on Financing Sustainable Growth, the related EU Taxonomy Regulation, and the Fit for 55 package, to mention a few. The Renovation Wave is the perfect initiative to implement circular measures in the renovations of buildings.

During 2021, the Leadership Group made some realizations and we believe that, in order to achieve circularity, the following are needed:

• go circular together, both on the international and the regional and/or bilateral level;
• set the right frameworks for climate neutral and circular buildings and infrastructure in an integrated approach;
• policies should be assessed not only from interdependent materials flow perspective but also from object and city/region perspective;
• develop, promote and align circular international public procurement and use Total Cost of Ownership approaches;
• use public funds and financing to support and accelerate circularity in infrastructure.