EU Businesses Lead Climate and Digital Investments Despite Economic Challenges, EIB Survey Shows
(IN BRIEF) The European Investment Bank’s (EIB) 2024 Investment Survey reveals that over 60% of EU companies have already invested in climate change mitigation and adaptation, while more than 70% have embraced digital transformation. The survey, covering 12,000 firms across Europe and the U.S., highlights that European businesses are leading the green transition and fortifying their supply chains to counteract recent geopolitical challenges. The report also shows an increased focus on sustainability, innovation, and digital technologies, with EU firms prioritizing these to remain competitive. However, energy costs and market fragmentation remain significant hurdles for further investment expansion. Despite these challenges, European firms continue to make strides in reducing emissions and adopting digital solutions.
(PRESS RELEASE) LUXEMBOURG, 24-Oct-2024— /EuropaWire/ — In its 2024 Investment Survey, the European Investment Bank (EIB) reports that over 60% of European companies have invested in climate change mitigation and adaptation, with more than 70% focusing on digital transformation. The survey, released at the World Bank-IMF Annual Meetings, highlights that European Union businesses are leading global efforts in the green transition while also reinforcing their supply chains amidst recent geopolitical and economic challenges. The study, which covers 12,000 companies across the EU and the US, shows that European firms are prioritizing sustainability, with 61% of them investing in reducing climate change impact—up from 56% in 2023. Digital adoption has also seen an increase, with 74% of EU firms embracing advanced technologies to remain competitive.
Despite facing high energy costs and a fragmented single market, EU businesses remain focused on innovation, allocating 37% of their investments towards intangible assets like research and skills development. The survey underscores the importance of public-private partnerships in sustaining the EU’s competitiveness in global markets, with policymakers encouraged to continue supporting strategic investments.
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by its Member States. It provides finance and expertise for projects that contribute to the EU’s policy objectives. The EIB works closely with public and private-sector partners to support sustainable investment, job creation, economic growth and innovation across Europe.
On October 7th, European Union Finance ministers have welcomed an Action Plan to be deployed by the European Investment Bank (EIB) Group, to support the development of the EU’s Capital Markets Union. One key objective of the Action Plan is closing the funding gap throughout the company and innovation cycle; the EIB Group plans to scale up support for the EU venture capital and private equity markets, to help retain the most innovative scale-ups in Europe.
The EIB Group Survey on Investment, which has been carried out since 2016, is a unique annual survey of some 12,000 firms. Data for the latest edition was collected in mid-2024 from companies in all EU Member States. The survey also includes a sample of businesses in the United States. The survey collects data on company characteristics and performance, past investment activities and future plans, sources of finance, financing hurdles and other business challenges such as climate change, digitalisation and international trade.
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Publish date : 2024-10-24 02:12:00
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