016.03 Disasters and pollution
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2024-03-28T22:05:45ZWhat drives firms’ investment in climate action? Evidence from the 2022-2023 EIB Investment Survey
https://ketlib.lib.unipi.gr/xmlui/handle/ket/3968
What drives firms’ investment in climate action? Evidence from the 2022-2023 EIB Investment Survey
European Investment Bank
The European economy is experiencing significant turbulence as recurring crises reverberate across all
EU countries, their economies and business operations. Since 2020, shocks ranging from the COVID-19
pandemic to the Russian invasion of Ukraine have disrupted supply chains and destabilised European
energy markets. Price volatility and uncertainty have reached multi-decade highs and risk derailing the
post-pandemic recovery. At the same time, climate change is still the most pervasive global challenge.
Extreme weather events are on the rise. Any delay in tackling the climate issue may trigger sudden and
irreversible damage to the planet. Faced with this difficult business environment, firms are constantly
called upon to confront new challenges and come up with innovative solutions.
The disruption of energy supplies caused by the war in Ukraine has proven particularly challenging for
EU firms. Extremely high energy prices significantly alter firms’ costs, particularly for energy-intensive
industries such as food, paper, chemicals and metals. Less energy-intensive industries also face hardship,
as the increase in prices is not only limited to energy but has rapidly extended to other markets, creating
inflationary pressures.
Together with these short-term challenges, climate change represents the most significant long-term
threat for EU companies. A recently published report by the Intergovernmental Panel on Climate Change
(IPCC) points to the “unprecedented scale of recent change across the climate system,” the increasing
frequency of extreme climate events, and the necessity of taking immediate action (IPCC, 2021). In Europe
alone, extreme weather events caused over €145 billion in economic losses from 2012 to 2022. Over the
same period, climate-related economic losses increased by around 2% annually (European Environment
Agency, 2022). At the same time, the likelihood of a disorderly transition to green energy is increasing,
particularly since the Ukraine war.
The two crises – energy and climate – are closely interrelated and highlight the importance of a swift
transition to a sustainable European economy. Although energy price spikes may call for short-term
support measures, climate change requires the European Union to embrace the green transition in the
longer term.
The involvement of the European Union and its members in the green transition will be crucial, as they
are able to design new policy tools and channel funds appropriately. At the same time, firms are called
on to play a pivotal role. By investing in climate adaptation and mitigation measures, especially energy
efficiency, firms can protect themselves from the increased frequency of extreme climate events, reduce
energy costs and take further action to achieve net-zero emissions. Thus, it is important to take a closer
look at how firms are responding to this highly uncertain and rapidly changing business environment.
This report draws from data collected for the EIB Investment Survey 2022-2023. It examines the willingness
of European firms to address climate change in the current context of the energy crisis. First, it presents
the answers provided by firms across the European Union to a set of questions on energy and climate
change. Then, it goes more in-depth by providing firms’ answers in each EU country.
This is a report of the EIB Economics Department. The data source for this report is the EIB Investment Survey (EIBIS) 2022-2023. Results are weighted by industry group (sector), firm size-class and country. The methodology of the EIBIS survey is available at: https://www.eib.org/en/about/economic-research/surveys-data/about-eibis. Contact: eibis@eib.org.; doi: 10.2867/395409
2023-06-15T00:00:00ZA powerful solution for net-zero investing enterprisewide
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A powerful solution for net-zero investing enterprisewide
MSCI Climate Lab Enterprise
Owners and managers of assets are aligning their investments with the goal of transitioning to an economy that
removes as much greenhouse gas from the atmosphere as it puts in. Getting there will demand insight into how
climate risk could affect their portfolios, an understanding of companies’ climate trajectories, and the capacity to
track and report progress.
Climate Lab Enterprise provides institutional investors with the tools and services they need for net-zero alignment.
It combines a comprehensive set of climate data and analytics with powerful forecasting tools to help investors
measure, monitor and manage climate risk and the shift to sustainable growth consistently across companies,
portfolios and enterprises.
About MSCI MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 50 years of expertise in research, data and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process.
2021-01-01T00:00:00ZThe EIB Climate Survey. The climate crisis in a COVID-19 world: calls for a green recovery.
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The EIB Climate Survey. The climate crisis in a COVID-19 world: calls for a green recovery.
European Investment Bank
The third edition of the EIB Climate Survey shows that COVID-19 has changed people’s perception of the climate emergency. Most Europeans now consider the pandemic to be the greatest challenge facing their countries, but climate change remains a crucial issue.
Europeans say:
the economic recovery from the crisis must address climate change
governments should promote growth that emits less CO2 and makes societies more resilient to climate change
modifying personal habits to address climate change is important
technological innovation should be used to fix climate problems
climate action and the transition to green economies must take into account social inequalities
These findings are particularly important today because the climate and a green recovery are top priorities in the European Union and many other regions of the world.
Read the latest survey to find out what people see as the most effective way to address the climate emergency, what people are willing to give up, what they expect from government policies, and how COVID-19 influences our views.
DOI: 10.2867/5219
2021-05-31T00:00:00ZThe EIB Climate Survey 2021-2022. Citizens call for green recovery.
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The EIB Climate Survey 2021-2022. Citizens call for green recovery.
European Investment Bank
Are policies to tackle climate change good news for the economy? What kind of impact do people expect in their daily lives?
The fourth edition of the EIB Climate Survey shows that a majority of Europeans are confident that climate policies will improve their quality of life and create jobs.
What Europeans think:
A majority of Europeans believe that climate policies are a source of economic growth
Policies to tackle climate change will create more jobs than they eliminate
61% think that climate policies will improve their quality of life
25% fear they could lose their job because it will become incompatible with the need to mitigate climate change
People do not expect the climate crisis to be over anytime soon - 66% feel that climate change will still be a serious issue by 2050.
Read the latest survey to find out what people see as the most effective way to address the climate emergency and what kind of impact they expect from government policies in their daily lives.
DOI: 10.2867/414948; The EIB uses paper certified by the Forest Stewardship Council (FSC). Because it’s made by people who like trees. FSC promotes environmentally sound, socially beneficial, and economically viable management of the world’s forests.
2022-04-20T00:00:00Z