‘Green transition’ expected to buoy economic growth – EIB

Just over half of Irish people believe the transition to a more environmentally sustainable economy will create jobs and be a source of economic growth, a new survey has revealed.

The European Investment Bank’s 2021-22 Climate Survey found 53 per cent of Irish people believe the “green transition” will lead to economic growth, while 59 per cent believe policies to tackle climate change will create more jobs than they eliminate.

However, there are also concerns over the impact the climate change policies could have on employment in the future.

Young Irish people fear their current jobs may be affected by climate change, with almost a third of those aged 20-29 worrying their role may be incompatible with the fight against climate change in the future. That is 11 points higher than the national average of 20 per cent.

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Just over a fifth expect they will have to move to another region or country in the future because of climate change, with the figure rising to 39 per cent among those aged 20-29. The European average was 29 per cent, with the figure higher in countries such as Spain and France.

And while 63 per cent of Irish respondents to the survey expect to see an increase in quality of life as a result of the move to more sustainable policies, even more (72 per cent) believe their purchasing power would decrease.

Climate emergency

Only a third think the climate emergency will be under control by mid-century, with 64 per cent expecting it to still be a serious issue at that time.

Two-thirds expect that people will work from home more to contribute to the climate change battle, while 35 per cent anticipate more people adopting a plant-based diet. Almost half expect the introduction of an energy quota for individuals.

"Irish people see clear opportunities in the green transition for their quality of life as well as for the job market in general. However, they are also concerned, notably the younger generation, about the long-term impact of climate change on where they live and on the sustainability of their jobs," EIB vice-president Christian Kettel Thomsen, said.

“As the EU climate bank, it is our responsibility to listen to 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.”

The survey is the fourth edition of the bank’s climate survey, which assesses how people feel about climate change. The study, which was conducted in partnership with market research firm BVA, surveyed more than 30,000 respondents between August 26th and September 22nd last year.