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Irish people expect economic benefits from green transition

Green Transition
/ 22nd March 2022 /
George Morahan

A strong majority of Irish people believe the green transition will lead to improved quality of life and economic growth, the European Investment Bank (EIB) has found.

Nearly two-thirds (63%) of respondents to the EU investment bank's fourth climate survey said they think policies aimed at preventing climate change will improve their quality of life, with 59% believing such policies will create more jobs than they eliminate.

Just over half of people (53%) said the green transition would be a source of economic growth, although a fifth (21%) said they expect to move to another country or region due to climate change, almost doubling to 39% among those aged 20-29.

Similarly, 20% fear they could lose their job because it will become incompatible with the need to mitigate climate change, again rising among 20-29 year-olds (31%), while nearly three-quarters (72%) anticipate that their purchasing power will decrease with the transition.

"Irish people see clear opportunities in the green transition for their quality of life as well as for the job market in general," Christian Kettel Thomsen, EIB vice-president, said.

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"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.

Green Transition
Just over half of people (53%) said the green transition would be a source of economic growth, although a fifth (21%) said they expect to move to another country or region due to climate change. Pic: Getty Images

"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."

Individuals believe conscious behavioural shifts to reduce carbon emissions will gain significant traction over the next 20 years, with 66% believing that most people will work from home, 35% thinking the majority will adopt a plant-based diet, and 48% predicting that individual energy quotas will be allocated.

Overall, Europeans are divided on whether the green transition will be a source of economic growth. More than half (56%) believe it will be the case, in line with the perception of American and British respondents (57%), while Chinese people are more optimistic (67%).

However, the majority of Europeans (61%) are confident that their quality of life will improve, with a positive impact on the quality of their food and their health. Europeans are more pessimistic compared to Chinese people (77%), Americans (65%) and British people (63%).

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