September 19, 2021

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EIB: EU companies invest more often due to climate than in the US

EIB: EU companies invest more often due to climate than in the US

Of all European companies, 45 percent invested money in one way or another to reduce the effects of climate change, for example by reducing or offset CO2 emissions. In the United States, it accounts for less than a third of all companies. Northern and Western European companies are at the forefront. For example, 58 percent of Dutch companies have already invested due to the weather. Only in Finland is that percentage even higher. In Ireland it is only 19 per cent, in Greece 18 per cent.

The EIB states that companies face two types of risks due to climate change: direct risks and change risks. Those direct risks are the perceived effects of climate change by companies such as the increased risk of flooding and wildfires. Change risks are associated with countries that want to combat climate change. This includes pricing of CO2 emissions, but also re-training of employees.

Nearly half of European companies have already invested in the most efficient use of energy, which is significantly higher than the previous measurement of 37 percent in 2019. American companies are a little ahead of the curve here. Half are already focusing on energy consumption. EIB hopes to make even greater progress in this area. Many companies can use energy more efficiently.

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