- 60% think climate policies will improve their quality of life
- 60% believe policies to tackle climate change will create more jobs than they eliminate
- 51% say that the green transition will reduce economic growth in the country
- 73% think their purchasing power will decrease with the implementation of climate policies
These are some of the results from the latest release of the 2021-2022 Climate Survey conducted in September 2021 and published today by the European Investment Bank (EIB). The EIB is the lending arm of the European Union and the world’s largest multilateral lender for climate action projects.
Better quality of life despite less purchasing power
Are policies to tackle climate change good news for the economy? People in Luxembourg are split on this and are less optimistic than their fellow Europeans: 49% say the green transition will be a source of economic growth (below the EU average of 56%).
However, 60% of respondents believe that their quality of life will improve, with greater convenience in their everyday lives and a positive impact on the quality of their food and their health. Policies that address the climate emergency are also seen as good news for the job market: two-thirds of people (60%) believe these will have a net positive impact on employment levels within the country, creating more jobs than they eliminate.
Meanwhile, three-quarters (73%) anticipate that their purchasing power will decrease with the green transition.
Long-term lifestyle changes
According to respondents in Luxembourg, the challenges related to climate change are here to stay. While almost one-fifth (17%) of them believe that the climate emergency will be under control by 2050, 81% feel that it will still be a serious issue by mid-century.
People in Luxembourg are conscious of the behavioural shifts that are needed to tackle climate change. According to them, individual lifestyle changes that reduce carbon emissions will gain significant traction in the next 20 years. One-fifth of respondents (19%) believe that most people will no longer own a car in 20 years and 61% say they think that most people will be working from home to contribute to the fight against climate change. Lastly, one-quarter (25%) think most people will have adopted a plant-based diet and 56% predict that an energy quota will be allocated to each individual.
A global comparison: Differences between EU, British, American and Chinese respondents
Overall, Europeans are divided on whether the green transition will be a source of economic growth. More than half of respondents (56%) believe it will be the case, in line with the perception of Americans and British people (57%), while Chinese people are more optimistic (67%). However, the majority of Europeans (61%) are confident that their quality of life will improve, with a positive impact on the quality of their food and their health. Europeans are more pessimistic compared to Chinese people (77%), Americans (65%) and British people (63%).
EIB Vice-President Kris Peeters said: “Luxembourgish people see clear opportunities in the green transition for their quality of life as well as for the job market. But they are also conscious of the potential harmful impact on their purchasing power and on the economy as a whole. As the EU climate bank, it is our responsibility to help anticipate these concerns and work with policymakers and industry partners to address them. In doing so, we can help power the transition to a greener and prosperous future that leaves no one behind.”
Download the Excel spreadsheet with the raw data for all 30 countries surveyed here. Please click here to access an EIB webpage presenting key findings of the EIB Climate Survey IV.
Background information
About the EIB Climate Survey
The European Investment Bank has launched the fourth edition of the EIB Climate Survey, a thorough assessment of how people feel about climate change. Conducted in partnership with market research firm BVA, the fourth edition of the EIB Climate Survey aims to inform the broader debate on attitudes and expectations in terms of climate action. More than 30 000 respondents participated in the survey between 26 August and 22 September 2021, with a representative panel for each of the 30 countries polled.
About the European Investment Bank
The EIB Group has recently adopted its Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB finance for climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.
About BVA
BVA is an opinion research and consulting firm recognised as one of the most innovative market research firms in its sector. Specialised in behavioural marketing, BVA combines data science and social science to make data inspiring and bring it to life. BVA is also a member of the Worldwide Independent Network of Market Research (WIN), a global network of some of the world’s leading market research and survey players, with over 40 members.