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Thursday, December 13, 2018

EUROPEAN INVESTMENT BANK: EIB climate survey - Most French people say climate change will not help the economy

European Investment Bank issued the following announcement on Nov. 29.

The European Investment Bank (EIB) today, in partnership with the international market research company YouGov, released the second part of its climate survey, which aims to survey public opinion on climate change in Europe. the European Union, the United States and China.

This second set of results highlights how citizens view climate change and economic growth, an aspect that should be the subject of in-depth discussion at the World Conference on Climate Change (COP 24) to be held this year. next week in Poland. During this summit, policymakers from around the world will exchange views on how to achieve the goals set in the Paris agreement.

In this respect, the EIB Climate Survey provides valuable data on how Europeans think about how climate change (and the fight against it) is affecting their economy. According to this study, 54% of French people believe that climate change will have consequences on their financial situation (higher prices for insurance and energy and higher taxes, for example). In addition, the survey reveals that low-income people are more concerned about the negative economic impact of climate actions than high-income earners:

Overall, the survey shows that EU citizens are more concerned about the financial implications of climate change than Americans and Chinese. Regarding the consequences of climate change on their personal lives, 55% of Europeans cite the financial effects, against 40% of Chinese and 45% of Americans. The latter are also the most optimistic about the economic benefits of measures to combat climate change: 26% of them believe that climate action can have a positive effect on the economy, compared to 21% of Europeans and only 11% of Chinese.

In this context, the EIB is committed to being one of the world's largest sources of climate finance: investing more than EUR 130 billion worldwide, supporting more than EUR investment in climate action since 2011 (roughly equivalent to Poland's GDP).

Monica Scatasta, Head of Environmental, Climate and Social Policy at the EIB: "Financing is a key factor in the global fight against climate change and its negative impacts. At the EIB, we strongly believe that climate finance is also essential to capitalize on opportunities for growth and innovation. Everyone may not be aware that climate change measures can also have a significant positive impact on economic growth and job creation. However, public funding alone, including funding from international institutions, is not enough. Investors, entrepreneurs and all economic actors have a role to play against the threats posed by climate change. At the EIB, we help mobilize these actors to support climate action. "

The financial effects are, for the French, among the first consequences of the climatic changes that they will undergo very probably over the next ten years:

58% - Threats to life (eg, floods, water shortages, conflicts over resources);

57% - Health effects (eg, new diseases or more serious illnesses due to higher temperatures or extreme weather events);

54% - Financial effects (eg, higher prices for insurance, energy, food and higher taxes);

39% - Effects on living conditions (eg less food, lower quality recreation);

38% - Effects on society and social conditions (eg increasing numbers of migrants);

21% - Effects on employment and working conditions (eg job losses in climate-related sectors);

19% - housing consequences (eg, the need to move);

9% - do not know;

3% - none of these proposals;

1% - Climate change does not exist.

Original source can be found here.

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European Investment Bank

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