Residents of Spain surveyed in August 2024 view climate change as one of the biggest challenges facing their country, according to the annual Climate Survey commissioned by the European Investment Bank (EIB). 95% of them support taking action to cope with the effects of climate change (placing Spain among the top five EU countries most strongly expressing this view), and the majority believe that investing in adaptation now will prevent higher costs in the future. The survey is part of the EIB's annual activities for the COP, and was carried out before the recent flooding in Spain.
Key findings
- 95% of Spanish respondents say it is important for their country to adapt to climate change, while 66% say it needs to be prioritised.
- 88% 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 cost of climate change continues to surge. 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.
“As the tragic floods in Spain show us, the impact of climate change through extreme weather events is a terrible reality. There is an urgent need to invest in resilience and adaptation, and in mitigating the impact of climate change. An orderly transition also makes the most economic sense. Every €1 invested in prevention and resilience saves between €5 and €7 in repairing damage,” said EIB President Nadia Calviño.
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 Spain, 1 004 people took part in the survey, which was conducted in August 2024.
A priority for the country
Spanish respondents say that climate change is one of the biggest challenges facing their country.
- 95% (very close to the EU average of 94%) recognise the need to adapt to climate change. Two-thirds (66%, 16 points above the EU average of 50%) consider climate adaptation a priority for Spain in the coming years. 29% consider it important.
Adaptation to climate change is also seen as an important long-term investment:
- 89% (compared to the EU average of 86%) say that investing in climate change adaptation can create jobs and boost the local economy.
- 88% (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
Spanish respondents, who were surveyed in August 2024, affirm that their 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 (such as extreme heat and heatwaves, droughts, wildfires and floods).
Extreme weather events have serious, wide-ranging consequences:
- 66% of Spanish respondents reported having suffered at least one direct consequence of an extreme weather event. 27% experienced health problems, 20% saw forests or natural spaces near their homes destroyed, 18% had issues with drinking water supply, and 17% were impacted by transport disruptions.
Spanish respondents are well aware of the need to adapt:
- 78% of them (compared to the EU average of 72%) recognise that they will have to adapt their lifestyle due to climate change.
- 40% (compared to 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.
- 35% (7 points above the EU average) say they will have to move to a cooler region or country.
Who pays and who benefits
When asked who should pay for climate change adaptation:
- 40% of Spanish respondents think everyone should pay equally.
- 33% think that the costs should be borne by the companies and industries that contribute most to climate change.
- 12% say that wealthier individuals should bear the costs through higher taxes.
When asked who should receive support first:
- 38% (similar to the EU average) believe that everyone should benefit equally.
- 30% think that the elderly should be prioritised.
- 23% 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. 65% of Spanish respondents – 8 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 (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 Spain
In Spain, 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 €6.77 billion in climate action and environmental sustainability projects in the country. The Bank is boosting capacity for renewable energy generation, as well as investing in green technologies to support 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. It is leading investments in e-mobility solutions and sustainable transport in cities and beyond, investing in the private sector to support the electrification of intercity road transport, and is also joining forces with public authorities to develop and roll out low-emission public transport projects. 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, climate adaptation and to accelerate the green transition.
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).