The relevance of the building sector in the global energy use as well as in the global carbon emissions, both in the developed and developing countries, makes the improvement of the overall energy performance of existing buildings an important part of the actions to mitigate climate changes. Regardless of this potential for energy and emissions saving, large scale building renovation has been found hard to trigger, mainly because present standards are mainly focused on new buildings, not responding effectively to the numerous technical, functional and economic constraints of the existing ones.

One of the common problems in the assessment of building renovation scenarios is that only energy savings and costs are normally considered, despite the fact that it has been long recognized that investment on energy efficiency and low carbon technologies yield several benefits beyond the value of saved energy which can be as important as the energy cost savings process.

Based on the analysis of significant literature and several case studies, the relevance of co-benefits achieved in the renovation process is highlighted. These benefits can be felt at the building level by the owner or user (like increased user comfort, fewer problems with building physics, improved aesthetics) and should therefore be considered in the definition of the renovation measures, but also at the level of the society as a whole (like health effects, job creation, energy security, impact on climate change), and from this perspective, policy makers must be aware of the possible crossed impacts among different areas of the society for the development of public policies.