Austrian 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, Austrian respondents ranked climate change third, after the cost of living and large-scale migration. Many believe that investing in adaptation now will also prevent higher costs in the future.
Key findings
- 94% of Austrian respondents say it is important for their country to adapt to climate change. 37% say it needs to be prioritised.
- 79% agree that spending on climate adaptation is required urgently to avoid even higher costs in the future.
Austria has been severely impacted recently by the effects of extreme weather events, in particular by flooding that has resulted in widespread damage and casualties in several regions. As natural disasters increase in frequency and severity, the costs of climate change are increasingly apparent. According to a recent 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.
“Adapting to climate change is not only an environmental necessity, but also a key strategic investment in Austria’s future. Through our advisory services and targeted financing, the EIB is committed to supporting communities so that they can build resilience and seize the economic opportunities that adaptation brings. By acting today, we can reduce future costs, create jobs and ensure a sustainable and prosperous economy for generations to come,” EIB Vice-President Thomas Östros said. “The EIB will continue to work closely with Austria to provide the expertise and financing needed to accelerate this crucial transition.”
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 Austria, 1 004 people took part in the survey, which was conducted in August 2024.
A pressing issue
Austrian respondents say that climate change is the third-biggest challenge facing their country, after the rising cost of living and large-scale migration.
In view of this:
- 94% of Austrian respondents (the same as the EU average) recognise the need to adapt to climate change. 37% (13 points below the EU average of 50%) consider climate adaptation a priority for their country for the coming years, while 57% think it is important.
Adaptation to climate change is also considered an economic opportunity and a long-term investment:
- 79% (7 points below the EU average) say that investing in climate change adaptation can create jobs and boost the local economy.
- 79% (6 points below the EU average) believe that adapting to climate change requires investment now to avoid higher costs later.
The impact of climate change and new habits
Austrian 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:
- 73% (7 points below the EU average) have experienced at least one extreme weather event in the last five years. 49% (6 points below the EU average) have suffered from extreme heat and heatwaves, 38% have seen severe storms or hail and 25% (5 points above the EU average) have faced floods.
Extreme weather events have serious, wide-ranging consequences:
- 65% of Austrian respondents (slightly lower than the EU average of 68%) reported having suffered at least one direct consequence of an extreme weather event. 27% (6 points above the EU average) were impacted by transport disruptions, 23% saw forests or natural spaces near their homes destroyed, while 21% had their property damaged.
Austrian respondents are well aware of the need to adapt:
- 64% (8 points below the EU average) recognise that they will have to adapt their lifestyle due to climate change.
- 26% (9 points below the EU average) 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.
- 22% (6 points below the EU average) 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. 82% of Austrian respondents (well above the EU average of 71%) feel they are informed about what they can do to adapt their homes and lifestyles effectively. However, 59% (close to the EU average of 60%) are unaware of public subsidies or financial incentives to support their efforts.
Adaptation priorities
Austrian respondents identify the following key priorities for local climate adaptation:
- 46% highlight cooling cities down.
- 38% cite improving infrastructure; for example, installing better drainage systems, flood barriers, storm shelters or more resilient power grids.
- 33% (5 points above the EU average) mention improving insulation in homes and public buildings.
When asked who should pay for climate change adaptations:
- Just over a third (34%) think that the costs should be borne by the companies and industries that contribute most to climate change.
- Nearly a third (31%) think everyone should pay equally.
- 12% say that wealthier individuals should bear the costs through higher taxes.
When asked who should receive support first:
- 38% believe that everyone should benefit equally.
- 27% 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. 56% of Austrian respondents (close to 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 impacts 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 and climate adaptation in Austria
In Austria, the EIB is supporting climate adaptation and mitigation projects that have a direct and everyday impact on businesses and people. In 2023, the EIB Group, comprising the European Investment Bank and the European Investment Fund, provided financing in Austria with a focus on supporting projects centred on renewable energy, water supply and social housing. It is investing in two wind farms, Engelhartstetten and EVN, to boost capacity for renewable energy generation. It partners with public and 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)