More than eight in ten respondents 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, respondents ranked climate change second only to the cost of living. Many believe that investing in adaptation now prevent higher costs in the future.
Key findings
- 97% of Italian respondents say it is important for their country to adapt to climate change, while 67% say it needs to be prioritised.
- 91% agree that spending on climate adaptation is required urgently to avoid even higher costs in the future.
In 2024, Italy faced several significant weather events, including intense heatwaves and extreme droughts that impacted southern regions like Sicily and Sardinia especially severely. In addition, thunderstorms and heavy rainfall led to flooding in Piemonte, Emilia-Romagna and Marche, prompting residents to evacuate and authorities to declare a state of emergency.
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.
"The devastation caused by extreme weather events is now a concrete reality for Italy, and the majority of Italians recognise the urgency of investing in climate change adaptation measures. In Sicily, for example, an unprecedented drought has put millions of people in need of water,’ said Gelsomina Vigliotti, EIB Vice-President. "The European Investment Bank strongly supports Italy, financing projects that not only protect communities but also create jobs and strengthen local economies. By investing today in climate adaptation strategies and offering free advisory services to public administrations, we can build a more resilient and prosperous future for the country."
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 Italy, 1 008 people took part in the survey, which was conducted in August 2024.
A national priority
Italian respondents say that climate change is the second-biggest challenge facing their country, after the rising cost of living.
97% of them recognise the need to adapt to climate change (close to the EU average of 94%).
- Over two-thirds of them (67%, 17 points above the EU average of 50%) consider climate adaptation a priority for their country in the coming years.
Adapting to climate change is also seen as an economic opportunity and a long-term investment:
- 91% of Italian respondents – compared to an EU average of 86% – say that investing in climate change adaptation can create jobs and boost the local economy.
- 91% – compared to an EU average of 85% – believe that that adapting to climate change requires investment now to avoid higher costs later.
The impact of climate change and new habits
Italian 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:
- 89% of them – 9 points above the EU average – have experienced at least one extreme weather event in the last five years. 61% have suffered from extreme heat and heatwaves (6 points above the EU average), 38% have experienced droughts (3 points above the EU average) and 37% have seen heavy storms or hail.
Extreme weather events have serious, wide-ranging consequences:
- 75% of Italian respondents – 7 points above the EU average of 68% – reported having suffered at least one direct consequence of an extreme weather event. 23% had health issues like heat stroke or respiratory problems; 22% were impacted by transportation disruptions like closed roads, impassable bridges or delays in public transport; and 20% (equal to the EU average) faced power cuts or energy supply issues, or suffered property damage from events like floods, landslides or soil erosion.
Italian respondents are well aware of the need to adapt:
- 83% of them – compared to the EU average of 72% – recognise that they will have to adapt their lifestyle due to climate change.
- 34% 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.
- 32% 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. 75% of Italian respondents – just over the EU average of 71% – feel they are informed about what they can do to adapt their homes and lifestyles effectively. However, more than half (51%, compared to the EU average of 60%) are unaware of public subsidies or financial incentives to support their efforts.
Adaptation priorities
Italian respondents identify the following key priorities for local climate adaptation:
- 51% – 13 points above the EU average of 38% – think that the general public should be educated to adopt behaviours that help to prevent or cope with extreme weather events.
- 47% – 8 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.
- 41% highlight adding tree-lined streets or creating green spaces to cool cities down.
When asked who should pay for climate change adaptations:
- A third – 34%, compared to 35% for the EU – think that the costs should be borne by the companies and industries that contribute most to climate change.
- Another third – 33%, compared to 32% for the EU – think everyone should pay equally.
- 19% – compared to 15% for the EU – say that wealthier individuals should bear the costs through higher taxes.
When asked who should receive support first:
- 40% – compared to 38% for the EU – believe that everyone should benefit equally.
- 26% – compared to 28% for the EU – think that the elderly should be prioritised.
- 22% – compared to 23% for the EU – say that people living in high-risk areas should be the first to receive support.
Concerns about who should benefit from adaptation aid go beyond national priorities. A majority (59%) of Italian respondents 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 (EIF), 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 Italy
In Italy, 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 a record €7 billion in climate action and environmental sustainability projects in the country. It is boosting capacity for renewable energy generation, as well as investing in green technologies to accelerate the integration of clean energy into the grid, and is also supporting projects to improve energy efficiency to make our homes and workplaces more sustainable. The EIB is investing in both the public and private sector to promote sustainable transport and clean mobility in Italy. It works with commercial banks and financial institutions to ensure that small and medium businesses can access the finance they need to support investments in energy efficiency and climate adaptation, and to accelerate the green transition.
EIB and climate adaptation
As the EU’s financing arm, the EIB invests in key climate adaptation projects in Europe and beyond. Recent examples include a framework loan to the City of Florence to support its urban development and climate strategies, bio-diverse water retention basins and sustainable drainage systems. The Bank also financed Krakow’s Urban Adaptation Plan, which focuses on sustainable mobility, green spaces and the renovation of public buildings like schools and hospitals. In addition, it helped the Lisbon metropolitan area to advance its climate change adaptation strategy.
Outside Europe, for example, the EIB is working with UN-HABITAT on a regional project for the Lake Victoria countries, applying water and sanitation strategies to enhance climate resilience in this vulnerable region.
Of course, to be successful, the green transition and the necessary adaptation measures must be affordable. That is why the EIB is committed to helping Europeans and people the world over finance the required investments.
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).