Climate change and energy efficiency
IMPACT OF CLIMATE CHANGE — PHYSICAL RISK
Climate change is gradually being perceived as more of a reality, as around three-fifths (58%) of firms in the European Union report that weather events are currently having an impact on their business. This is similar to EIBIS 2020, although the share of firms reporting that weather events had a major impact has fallen (19% in EIBIS 2021 vs. 23% in EIBIS 2020).
Firms in the construction sector are most likely to report that weather events are impacting their business (65%).
The highest share of firms reporting weather events having an impact are in Spain (78%), Romania (72%) and Portugal (72%), whilst Malta (44%), Luxembourg, Sweden and the Czech Republic (all 45%) have the lowest share.
Q. Thinking about climate change and the related changes in weather patterns, would you say these weather events currently have a major impact, a minor impact or no impact at all on your business?
Base: All firms (excluding don't know/refused responses)
IMPACT OF CLIMATE CHANGE — PHYSICAL RISK BY COUNTRY
Q. Thinking about climate change and the related changes in weather patterns, would you say these weather events currently have a major impact, a minor impact or no impact at all on your business?
Base: All firms (excluding don't know/refused responses)
IMPACT OF CLIMATE CHANGE — RISKS ASSOCIATED WITH THE TRANSITION TO A NET ZERO EMISSION ECONOMY OVER THE NEXT FIVE YEARS
The share of firms within the European Union seeing the transition to stricter climate standards and regulations as a risk or an opportunity over the next five years is fairly balanced (31% and 28%, respectively). Instead, 41% of EU firms do not expect the transition to affect them. This contrasts with the United States, where more firms see the transition to stricter climate standards and regulations as a risk rather than an opportunity over the next five years (44% vs. 20%, respectively).
Poland and Lithuania have the highest share of firms who feel that the transition is a risk to their company (both 47%), whilst Italy (17%) and Greece (12%) have the lowest. Denmark (47%) and the Netherlands (43%) have the highest share of firms who feel that the transition provides them with an opportunity.
Q. Thinking about your company, what impact do you expect this transition to stricter climate standards and regulations will have on your company over the next five years?
Base: All firms (excluding don't know/refused responses)
IMPACT OF CLIMATE CHANGE — RISKS ASSOCIATED WITH THE TRANSITION TO A NET ZERO EMISSION ECONOMY OVER THE NEXT FIVE YEARS BY COUNTRY
Q. Thinking about your company, what impact do you expect this transition to stricter climate standards and regulations will have on your company over the next five years?
Base: All firms (excluding don't know/refused responses)
INVESTMENT PLANS TO TACKLE CLIMATE CHANGE IMPACT
On average, 43% of EU firms have already invested in tackling the impacts of weather events and dealing with the process of reducing carbon emissions. Around half (47%) have plans to invest in these areas in the next three years. While the share of firms having invested is similar to EIBIS 2020, the share of firms with investment plans has increased. In particular, large firms have already invested (53%) and plan to invest (56%).
EU firms are forging ahead of US companies, as more firms in the European Union have already invested and are planning to invest in tackling climate change. The Netherlands, Denmark, Finland and Belgium have the highest share of firms who have already invested in tackling climate change and those who planned to invest in the next three years. Greece, Bulgaria, Cyprus and Ireland have the lowest share of firms reporting investment and plans to do so.
Q. Now thinking about investments to tackle the impacts of weather events and to deal with the process of reduction in carbon emissions, which of the following applies?
Base: All firms (excluding don't know/refused responses)
INVESTMENT PLANS TO TACKLE CLIMATE CHANGE IMPACT BY COUNTRY
Q. Now thinking about investments to tackle the impacts of weather events and to deal with the process of reduction in carbon emissions, which of the following applies?
Base: All firms (excluding don’t know/refused responses)
SHARE OF FIRMS INVESTING IN MEASURES TO IMPROVE ENERGY EFFICIEN...