- The rising cost of living, climate change and environmental degradation, and income inequalities are consistently ranked as the top three challenges in the European Union, United Kingdom, United States, China, Japan and India. In the United Kingdom, climate and environmental issues are considered the second biggest challenge after the rising cost of living.
- Most respondents in the United Kingdom say climate policies will create more jobs than they will eliminate. More than two-thirds of the respondents also believe these policies will improve the quality of their daily lives, including the quality of food and health.
- There is a broad consensus across industrialised nations in favour of eliminating subsidies and tax breaks for the aviation sector and industries that heavily rely on fossil fuels (European Union: 74%; United Kingdom: 80%; United States: 78%; China: 94%; India: 92%; and Japan: 71%).
- Most respondents from the European Union, United Kingdom, United States, China and Japan believe their countries should financially compensate developing nations for climate change impacts.
The European Investment Bank (EIB) today launched the sixth edition of its Climate Survey. These are some of the most striking results of this annual survey conducted in August and September 2023. Running since 2018, the EIB Climate Survey offers insights into the climate change-related views of people in major economies around the world, with more than 30 000 respondents in the European Union, the United States, China, India, Japan, the United Kingdom, UAE, Canada and South Korea. The EIB is the lending arm of the European Union and the world’s largest multilateral lender for climate action projects.
Climate change impact and environmental degradation top the list of perceived challenges[1] in India and China, while they are a close second to the cost of living in the European Union, the United States and Japan. In the United Kingdom, the rising cost of living is considered the number one challenge (77% of respondents place it in the top three concerns for their country, 9 points above the EU average). Climate change impact and environmental degradation come second, with 45% of respondents in the United Kingdom ranking them in the top three concerns (5 points below the EU average).
A clear majority of all respondents except those in Japan believe that measures to combat climate change will improve people’s daily lives, including the quality of food and health (European Union: 61%; United States: 66%; China: 69%; India: 65%; and Japan: 47%). In the United Kingdom, 68% of respondents (7 points above the EU average) believe that climate policies will improve the quality of their daily lives.
European and Japanese respondents are split on whether the green transition will create or eliminate jobs (51% and 49%, respectively) while their American, Chinese and Indian counterparts are more optimistic (57%, 70% and 63%, respectively) and believe net additional jobs will be created.
In the United Kingdom, 58% of respondents (7 points above the EU average) think that climate policies will create more jobs than they will eliminate.
Demand for a just transition at home
Survey respondents recognise that the financial costs of the green transition are likely to affect personal budgets — especially those of lower-income households — and endorse policies that take social and economic inequalities into account when addressing the climate emergency. Most say that to succeed, the transition to a climate neutral economy must also address inequalities (European Union: 68%; United Kingdom: 64%; United States: 56%; China: 59%; India: 59%; and Japan: 62%).
Helping developing countries to deal with climate change
On the question of compensation for developing countries to help them deal with the impacts of climate change — expected to be a central topic at the 2023 UN Climate Change Conference in Dubai (COP28) — the survey shows that the global demand for fairness extends beyond national borders.
Recognising a historical responsibility, most respondents from the European Union (60%), the United Kingdom (58%), the United States (63%), China (74%) and Japan (72%) agree that their countries should financially compensate developing countries to help them fight climate change.
Taxes to support a just transition
Survey results show that most respondents would be willing to pay higher income taxes to help lower-income households cope with the costs of the green transition (European Union: 59%; United Kingdom: 63%; United States: 67%; China: 90%; India: 89%; and Japan: 58%).
Most respondents also said they would be in favour of other kinds of climate-related measures. For example, 80% of respondents in the United Kingdom said they would favour a fossil fuel tax reform (European Union: 74%; United States: 78%; China: 94%; India: 92%; and Japan: 71%) to eliminate subsidies and tax breaks for the aviation sector and other industries that rely heavily on fossil fuels.
Comments from Laura Sabogal Reyes, Senior Policy Advisor, E3G Public Banks Programme:
“The insights of the 2023 EIB Climate Survey leave no doubt. The global green transition will not be successful without addressing economic and social inequalities head on. Public Development Banks must play a crucial role in ensuring that the transition to a more sustainable and inclusive future is equitable and just, leaving no one behind."
[1] Respondents had to select the three challenges they consider the biggest for their country from a shuffled list of ten challenges: Increased cost of living, unemployment, climate change, environmental degradation, political instability, income inequalities, access to healthcare, large-scale migrations, cyberattacks, and terrorism.
Background information
About the EIB Climate Survey
The European Investment Bank (EIB) has now completed the sixth annual EIB Climate Survey, a thorough assessment of how people feel about climate change. Conducted in partnership with the market research firm BVA, the sixth edition of the EIB Climate Survey aims to inform the broader debate on attitudes and expectations in terms of climate action. More than 30 000 respondents participated in the survey from 7 August to 4 September 2023, with a representative panel of people aged 15 and above for each of the 35 countries polled (EU 27, the United States, China, the United Kingdom, India, Japan, South Korea, Canada and UAE).
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It is active in more than 160 countries and makes long-term finance available for sound investment in order to contribute towards EU policy goals.
- In 2019, the EIB adopted an updated energy lending policy ending financing to any unabated fossil fuel energy projects, including natural gas. The EIB was the first multilateral development bank to do this.
- In 2021, the EIB also became the first multilateral development bank to align its financial activities with the Paris Agreement.
- Through its Climate Bank Roadmap, the EIB Group aims to support €1 trillion of investment in climate action and environmental sustainability through the critical decade 2021-2030.
- It also made a commitment to increase investment in climate action and environmental sustainability to more than 50% of its annual lending by 2025 (last year that goal was exceeded with a figure of 58%).
EIB Global is the EIB Group’s specialised arm dedicated to operations outside the European Union and is a key partner of the EU Global Gateway strategy. It aims to support at least €100 billion of investment by the end of 2027, around one-third of the overall target of the Global Gateway. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local communities, companies and institutions through its offices across the world.
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