Over Half of European Companies Invest in Climate Action
- EIB survey says that EU firms have weathered climate challenges relatively well.
- EU businesses are investing more in climate change mitigation initiatives.
Companies in the European Union (EU) have fared well in dealing with various challenges, such as health issues, price increases, and trade problems in the last four years, notes a recent survey by the European Investment Bank (EIB).
Many have zeroed in on adopting digital technologies and vow to operate more environmentally friendly.
EU companies are feeling good about their investment decisions over the past three years and are committed to fighting climate change and using digital technology.
Globally, although the number of companies planning to raise their investments has plummeted, European firms are performing well in reducing emissions and preparing for severe weather. This year, 61% of EU firms put their money into climate change mitigation efforts, up from 56% in 2023.
Around 27% are moving towards a zero-carbon economy and seeing growth in the sector over the next five years.
“The commitment of EU firms to the green and digital transitions illustrates the potential of the European economy,” said EIB President Nadia Calviño. “The survey confirms that public-private partnership is at the heart of strategic investments to sustain the competitiveness, security and autonomy of the EU in global markets.”
About 90% of companies in the EU and the US are taking initiatives to reduce greenhouse gas emissions by improving waste management and energy efficiency. Also, EU firms are more proactive than their US counterparts in using sustainable transportation and renewable energy.
“European firms are making strides in addressing both climate change and the digital transformation,” said EIB Chief Economist Debora Revoltella. “But boosting EU investment requires a less fragmented EU single market.”
To learn more about the study, click here.
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Source: EIB
