Buildings account for 40% of the EU’s total energy bill and are responsible for 36% of Europe’s CO₂ emissions. At this moment, 70% of Europe's building stock is inefficient. Poorly insulated buildings cost money and emit CO₂. Insulating the building stock (roofs, walls and floors) through deep renovation programmes is the most effective solution to reducing greenhouse gases, improving energy security and economic competitiveness. Furthermore, up to 2 million jobs can be created in the EU in the process, and the benefits for economic growth can be substantial.