Most people fear being more environmentally friendly will cost them money

Seven out of 10 people in the State are concerned about climate change, but the same proportion fear that being more environmentally friendly will cost them money.

Research commissioned by PTSB as part of its quarterly Reflecting Ireland series highlights people’s concerns about climate change and the economy.

The PTSB survey finds that one in four people in the Republic believe we are on the brink of irreversible climate change, with extreme weather events, climate-driven cost of living changes and risks to health posed by extreme weather events among the top concerns.

Two-thirds of people say their household is already doing all it can on climate change, while 45 per cent say the increased cost of living has made them to live more sustainably.

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Just 27 per cent of people say they are willing to pay higher taxes to support green initiatives.

[ Irish public prioritise high inflation over energy switch ]

The PTSB survey shows a “marked deterioration” in consumer sentiment, with 43 per cent of people saying the cost of living is the number one issue to be addressed in Ireland today. This is more than double the level expressing this sentiment two years ago.

Homelessness, the price of housing, affordable rents and access to quality healthcare are the other top concerns, while Covid has “disappeared from the radar” for most consumers, with just 2 per cent of people identifying it as a key issue.

Some 48 per cent of people expect the economy to get worse over the next 12 months (up from 43 per cent three months ago), while 58 per cent believe the State is “on the wrong track” (up from 55 per cent). The number of people thinking Ireland is on the right track has fallen from 32 per cent to 30 per cent.

In terms of personal finances, 56 per cent feel they are worse off than a year ago, up from 51 per cent three months ago. Looking to the future, 39 per cent say they expect to be worse off in 12 months’ time, versus 33 per cent in the previous quarter.

Leontia Fannin, head of corporate affairs with PTSB, said that people in Ireland are concerned about climate change, not only for its impact on the plant but the risks it poses to their personal health and finances.

“We’re seeing substantial numbers of people concerned that we’re on the brink of irreversible climate change. This is feeding through to a strong desire to change behaviours – paying more taxes to support green initiatives, paying extra for climate friendly products and services. But there is also competing pressures on household incomes arising from the increased cost of living that might limit our collective efforts for further big changes,” she said.

The research was undertaken by Core Research among 1,000 adults in August.