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Climate Solutions
What drives firms’ investment in climate action?
Jul 14, 2023
European firms are tackling climate change risks amidst the green transition. High energy costs have affected European firms, leading to actions taken to mitigate climate change. The progress of businesses in reducing emissions and investment in climate measures are also discussed.
05:38
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Quick takeaways
- High energy costs hinder investment decisions of EU firms, particularly in Southern Europe.
- While a majority of European firms have taken measures to reduce emissions, there is uncertainty and pessimism surrounding the green transition.
Deep dives
Impact of High Energy Costs on EU Firms
A recent survey conducted by the European Investment Bank reveals that high energy costs have significantly affected investment decisions of EU firms. Around 60% of EU firms identified high energy prices as a major hindrance to their investment plans, with the percentage even higher in Southern Europe. Despite this, approximately 40% of EU firms have invested in energy efficiency, indicating a positive response to mitigate the impact of high energy costs. However, there was a disparity in investment levels between Western and Southern European firms.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode