European companies, despite tightening financial conditions and challenges caused by climate change, are returning to pre-pandemic investment levels, according to the European Investment Bank’s (EIB) 2023 Investment Level Survey (EIBIS 2023). At the same time, 64% of companies suffered losses as a result of climate change (up 7 percentage points from a year earlier).
“The return to pre-pandemic investment levels is a good omen for the economy and labor market in the European Union. However, it should be noted that the continuation of investment growth will depend on how companies in the EU deal with the main barriers to growth: high energy prices and a shortage of skilled labor. This is where development banks will play an important role – the EIB is ready to provide the necessary support for entrepreneurs to ensure the energy efficiency of their companies and raise the level of employee training so as to strengthen their competitiveness and secure further growth,” said EIB Vice President Teresa Czerwinska.
Companies confirmed the key role played by public finance and state support in maintaining investment levels. At the same time, 64% of companies have suffered losses as a result of climate change (up 7 percentage points from a year earlier). About half of these companies are taking steps to make their operations climate resilient, and 13% are insured against climate change damages. Companies have accelerated investment in energy efficiency – 51% of EU companies invested in this area in the past year, responding to rising energy prices, it stressed.
Source: EIB and ISBnews
Photo: EIB Vice President Teresa Czerwinska
