Most people in Cyprus recognise the need to adapt their lifestyle due to the effects of climate change, according to the annual Climate Survey commissioned by the European Investment Bank (EIB). Among the challenges facing their country, Cypriot respondents ranked climate change third, after the cost of living and large-scale migration. Many believe that investing in adaptation now prevent higher costs in the future.
Key findings
- 98% of Cypriot respondents say it is important for their country to adapt to climate change. 64% say it needs to be prioritised.
- 93% agree that spending on climate adaptation is required urgently to avoid even higher costs in the future.
As natural disasters increase in frequency and severity, the economic toll of climate change continues to rise. Scientists warn that these disasters will become increasingly costly. According to a report by the European Environment Agency,[1] Europe is currently the fastest-warming continent, with the number of extreme weather events expected to increase as global temperatures rise. A higher number of extreme weather events poses a significant threat to infrastructure and the stability of global water and food supplies, underlining the urgent need for comprehensive climate change adaptation strategies. Cyprus is already facing a number of significant weather events, including intense heatwaves, severe droughts and rising sea levels.
“Climate change is an undeniable reality that requires immediate action. The strong recognition among Cypriots of the need to adapt lifestyles reflects a critical understanding of the situation. By prioritising climate adaptation, we can turn challenges into opportunities: creating jobs, improving the economy and securing the future. The European Investment Bank Group is committed to supporting these efforts, empowering communities and promoting investments that will strengthen the country’s resilience to the impacts of climate change,” said EIB Vice-President Kyriacos Kakouris.
Today, the EIB released its seventh annual Climate Survey, which presents the views of over 24 000 respondents from across the European Union and the United States on the topic of climate change. In Cyprus, 508 people took part in the survey, which was conducted in August 2024.
A priority
Cypriot respondents say that climate change is the third-biggest challenge facing their country, after the cost of living and large-scale migration.
- 98% of them recognise the need to adapt to climate change. 64% (14 points above the EU average of 50%) consider climate adaptation a priority for their country for the coming years.
Adaptation to climate change is also considered an economic opportunity and a long-term investment:
- 96% of respondents (compared to the EU average of 86%) say that investing in climate change adaptation can create jobs and boost the local economy.
- 93% (compared to the EU average of 85%) believe that adapting to climate change requires investment now to avoid higher costs later.
The impact of climate change and new habits
Cypriot respondents recognise the economic opportunities that climate change adaptation measures present, while first-hand experiences of extreme weather events add to the sense that urgent action is required:
- 99% (19 points above the EU average of 80%) have experienced at least one extreme weather event in the last five years. 49% have suffered from extreme heat and heatwaves, 39% (18 points above the EU average of 21%) have faced wildfires and 30% have seen heavy storms or hail.
Extreme weather events have serious, wide-ranging consequences:
- 96% of Cypriot respondents (28 points above the European average of 68%) reported having suffered at least one direct consequence of an extreme weather event.
- 31% (12 points above the EU average of 19%) saw forests or natural spaces near their homes destroyed, 30% (9 points above the EU average of 21%) were impacted by transport disruptions, and 26% (12 points above the EU average of 14%) experienced disruption to public services.
Cypriot respondents are well aware of the need to adapt:
- 91% (compared to the EU average of 72%) recognise that they will have to adapt their lifestyle due to climate change.
- 84% (49 points above the EU average of 35%) think they will have to move to a less climate-vulnerable place (whether locally or abroad) to avoid floods, forest fires or other extreme weather events.
- 76% (48 points above the EU average of 28%) say they will have to move to a cooler region or country.
To be able to adapt to climate change, individuals need the right information. Encouragingly, 86% of Cypriot respondents (15 points above the EU average) feel they are informed about what they can do to adapt their homes and lifestyles effectively. Most of them (79% (39 points above the EU average of 40%) are also aware of public subsidies or financial incentives to support their efforts.
Adaptation priorities
Cypriot respondents identify the following key priorities for local climate adaptation:
- 46% (8 points above the EU average of 38%) note the need to educate the public on which behaviours to adopt in order to prevent or respond to problems caused by extreme weather events.
- 45% (6 points above the EU average of 39%) cite improving infrastructure; for example, installing better drainage systems, flood barriers, storm shelters or more resilient power grids.
- 42% highlight cooling cities down.
When asked who should pay for climate change adaptations:
- 31% think that the costs should be borne by the companies and industries that contribute most to climate change.
- 24% (9 points above the EU average of 15%) say that wealthier individuals should bear the costs through higher taxes.
- 22% (10 points below the EU average of 32%) think everyone should pay equally.
When asked who should receive support first:
- 31% (14 points above the EU average of 17%) believe that people with disabilities should be prioritised.
- 31% (8 points above the EU average of 23%) say that people living in high-risk areas should be the first to receive support.
- 29% (9 points below the EU average) believe that everyone should benefit equally.
Concerns about who should benefit from adaptation aid go beyond national priorities. 86% of Cypriot respondents (29 points above the EU average of 57%) recognise the need to support global adaptation efforts and believe that their country should do more to help the most vulnerable developing nations adapt to the growing impact of climate change.
Background information
EIB Group
The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that pursue EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, which also includes the European Investment Fund, signed a total of €88 billion in new financing in 2023 – 90% of it in the European Union. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. It is on track to deliver on its commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030, as pledged in its Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.
Around half of EIB financing within the European Union is directed to cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.
The EIB and climate adaptation in Cyprus
In Cyprus, the EIB is supporting climate adaptation and mitigation projects on a local, regional and national level that have a direct and everyday impact on businesses and people. In 2023, the EIB Group invested €157 million in climate action and environmental sustainability projects, which accounted for 61% of the total support in Cyprus. The EIB is also supporting vital water management projects, which made up 43% of total financing in Cyprus last year. These projects are a significant step in Cyprus’ efforts to become fully compliant with the EU Urban Wastewater Treatment Directive. The projects will fund the planning and construction of sewer networks and treatment facilities for communities close to the three largest cities: Nicosia, Larnaca and Limassol. EIB financing is also supporting Cyprus’ EU co-financed THALIA programme, which aims to make smart and green investments in digitalisation, resource efficiency – especially water and energy – and environmental protection, as well as to modernise vocational and training infrastructure to boost employment and social cohesion. The THALIA programme runs from 2021 to 2027, has a total budget of €1.8 billion and is central to Cyprus’ efforts to bolster economic resilience and competitiveness through innovative investment.
The EIB Climate Survey
The EIB, the climate bank, released the seventh annual EIB Climate Survey today. The survey contains the views of over 24 000 respondents. Since its inception in 2018, it has provided valuable insight into how people in the European Union and the United States feel about climate change. This year’s survey was run by BVA Xsight from 6 to 23 August 2024. Respondents could complete it online by computer, tablet or mobile phone. More information about the methodology can be found here.
[1] Europe is not prepared for rapidly growing climate risks | European Environment Agency's home page (europa.eu).