Three-quarters of Dutch companies invest in climate action: survey

Demonstrators at an anti-climate change march in October. Photo: DutchNews.nl

Some 75% of Dutch companies are investing in climate-related measures, higher than the European average (53%) and second only to Finland (77%), according to a study released this week by the European Investment Bank (EIB). .

As the effects of climate change become increasingly visible and economies suffer from an energy crisis, EIB Climate Investment Report 2022-23 indicates that the share of companies investing in climate change measures has increased by 10 percentage points compared to 2021, a trend expected to continue post-pandemic.

Western and Northern Europe, energy-intensive industries and large companies lead the trend, but the biggest increases over the past year have been in Central and Eastern Europe, and SMEs.

Waste recycling (70%), energy efficiency (64%) and green transport (59%) are the most popular measures adopted by Dutch companies, all with higher rates than the EU average. This is followed by investment in new technologies and products (53%) and renewable energy generation (50%).

However, research shows that, on average, 41% of European Union companies have climate targets, while only 40% of Dutch companies have.

More and more businesses feel exposed to physical risks related to climate change. More than half of Dutch businesses say they have experienced losses or disruptions due to extreme weather (57% across the EU). However, only 28% (33% in the EU) say they are investing in measures to adapt to climate impacts. Only 11% have adaptive strategies and 7% have insurance to cover possible losses.

impact

Dutch companies are more optimistic than European companies about the impact of the environmental transition on their business, although this proportion is declining. About 37% see going green as an opportunity and 29% as a risk, compared to the EU averages of 29% and 32% respectively.

EIB Chief Economist Debora Revoltella said, “EU companies have realized that climate change is no longer a distant reality. Fund and invest in the projects you accomplish.

“Many companies have invested in, and will continue to invest in, climate change measures to combat rising energy costs and contribute to the green transition. Despite the increase, ongoing uncertainties are weighing on EU businesses, making them unprepared to invest in climate action,” she said.

The survey also shows that 82% of European companies and 66% of Dutch companies are concerned about energy costs.