Most Bulgarian 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, Bulgarian respondents ranked climate change fifth, after political instability, cost of living, unemployment and access to healthcare. Many believe that investing in adaptation now will prevent higher costs in the future.
Key findings
- 96% of Bulgarian respondents say it is important for their country to adapt to climate change, while 50% say it needs to be prioritised.
- 89% agree that spending on climate adaptation is required urgently to avoid even higher costs in the future.
This autumn, some two million people have been affected by severe flooding in central Europe, and more recently Spain, southern France and Italy have also been hit by massive flooding, resulting in significant number of casualties and material damage.
This year Bulgaria has been hit by other climate-related disasters, like forest fires and prolonged draughts during the summer, which was one of the hottest on record. In the last years floods caused by torrential rains claimed lives and caused significant material damage in some areas of the country. These events underline Bulgaria's increasing vulnerability to the worsening effects of climate change, stressing the urgent need for improved resilience and adaptation strategies.
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.
“Bulgarians are increasingly aware of the need to adapt to the growing impacts of climate change and are ready to take action. At the EIB Group, we are committed to providing both the advisory services and the financial support needed to help Bulgaria strengthen its resilience. By investing now, we can protect communities, safeguard the economy and ensure a safer and more sustainable future for all,” said EIB Vice-President Kyriakos 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 Bulgaria, 1 007 people took part in the survey, which was conducted in August 2024.
A priority
Bulgarian respondents say that climate change is the fifth-biggest challenge facing their country, after political instability, cost of living, unemployment and access to healthcare.
- Nevertheless, 96% of Bulgarian respondents (similar to the EU average) recognise the need to adapt to climate change. 50% (similar to the EU average) consider climate adaptation a priority for their country for the coming years, while 46% think it is important but not a priority.
Adaptation to climate change is also considered an economic opportunity and a long-term investment:
- 89% believe that adapting to climate change requires investment now to avoid higher costs later.
- 88% say that investing in climate change adaptation can create jobs and boost the local economy.
The impact of climate change and new habits
Bulgarian 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:
- 94% (14 points above the EU average of 80%) have experienced at least one extreme weather event in the last five years. 62% (7 points above the EU average) have suffered from extreme heat and heatwaves, 48% (27 points above the EU average) have seen wildfires and 45% (10 points above the EU average) have experienced droughts.
Extreme weather events have serious, wide-ranging consequences:
- 81% of Bulgarian respondents (13 points above the European average of 68%) reported having suffered at least one direct consequence of an extreme weather event. 27% (15 points above the EU average of 12%) were impacted by issues relating to drinking water, 26% (6 points above the EU average of 20%) by power cuts or energy supply issues, while 25% (6 points above the EU average of 19%) saw forests or natural spaces near their homes destroyed.
Bulgarian respondents are well aware of the need to adapt:
- 74% recognise that they will have to adapt their lifestyle due to climate change.
- 41% (6 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.
- 34% (6 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, 71% of Bulgarian respondents (similar to the EU average) feel they are informed about what they can do to adapt their homes and lifestyles effectively. However, 55% (compared to the EU average of 60%) are unaware of public subsidies or financial incentives to support their efforts.
Adaptation priorities
Bulgarian respondents identify the following key priorities for local climate adaptation:
- 48% (13 points above the EU average) highlight planting vegetation that is more resilient to climate change.
- 40% mention creating additional green spaces and planting trees along streets to cool cities down.
- 40% cite improving infrastructure; for example, installing better drainage systems, flood barriers, storm shelters or more resilient power grids.
When asked who should pay for climate change adaptations:
- Nearly four in ten (39%) think that the costs should be borne by the companies and industries that contribute most to climate change.
- 23% (9 points below the EU average of 32%) think everyone should pay equally.
- 17% say that wealthier individuals should bear the costs through higher taxes.
When asked who should receive support first:
- 32% think that the elderly should be prioritised.
- 29% (9 points below the EU average of 38%) believe that everyone should benefit equally.
- 26% 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. 54% of Bulgarian respondents (slightly below 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 investment contributing to 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 Group and climate adaptation in Bulgaria
In Bulgaria, the EIB Group is supporting climate adaptation and mitigation projects on a local, regional and national level that have a direct and everyday impact on people and businesses. In 2023, the EIB Group invested €238 million in climate action and environmental sustainability projects in the country. It is investing in sustainable agriculture, energy-efficient green technologies and in promoting greener transport options to the public. The EIB Group is leading investments in e-mobility solutions and sustainable transport in cities and beyond, partnering with the private sector to support the expansion of an electric vehicle charging network, and also joining forces with public authorities to develop and roll out low-emission public transport projects. It partners with commercial banks and financial institutions to ensure that small and medium-sized enterprises (SMEs) can access the finance they need to support investments in energy efficiency, innovation, 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)