SEE and CEE companies lagging in climate-related investment - survey
Date: August 19th 2021
Author: Peter Palčec
Around 50% of companies in Western and Northern Europe reported investments to address climate change in 2020, 38% in Southern Europe and 32% in Central and Eastern Europe, according to an European Investment Bank (EIB) survey.
Two kinds of risks
It says that the perception of physical risks and transition risks is lower than the EU average in Bulgaria and Slovenia, while in Romania and Croatia the perception of physical risks is higher and the perception of transition risks lower.
Regulation and taxation fears
When it comes to the SEE region, companies in Romania, Croatia, Slovenia and Bulgaria are generally less aware of climate risks and report fewer obstacles to investments than the EU average, with uncertainty about taxation and regulation being cited most frequently as the biggest investment barrier.
Meanwhile, investments in energy efficiency are continuing to increase. Nearly half (47%) of the EU firms polled say they have invested in energy efficiency, a 10% increase compared to 2019.
Firms in Western and Northern Europe invest the most in energy efficiency (48%), followed by Southern, Central and Eastern Europe at around 40%. Despite higher energy efficiency investments than in the previous year, Europe’s energy savings potential remains largely untapped.