...

EU firms in infrastructure sector spent higher share of their investment on energy efficiency

Oil&Gas Materials 3 December 2021 13:22 (UTC +04:00)
EU firms in infrastructure sector spent higher share of their investment on energy efficiency

BAKU, Azerbaijan, Dec.3

By Leman Zeynalova – Trend:

The average share of investment in measures to improve energy efficiency within the European Union was 9 percent in 2020, slightly lower than in EIBIS 2020 (12 percent), Trend reports with reference to the European Investment Bank (EIB).

“This is a slightly higher share than in the United States (7 percent). Firms in the infrastructure sector spent a higher share of their investment (12 percent) on energy efficiency than those in any other sector, though this was lower than in 2019 (18 percent). Large firms allocated a slightly higher share of investment to energy efficiency than SMEs (10 percent and 8 percent, respectively). Estonia had the highest share of investment in energy efficiency (16 percent), followed by Hungary and Bulgaria, while Cyprus had the smallest share of investment (4 percent), with investment shares similar to Greece and Ireland,” reads the EIB report.

The Bank notes that around half of EU firms report that they set and monitored internal targets on carbon emissions and energy consumption in 2020, over double the proportion of firms reporting this in the United States (21 percent).

“The proportion of firms monitoring internal targets on carbon emissions in 2020 is similar to that recorded in the previous year in both the European Union and the United States. Manufacturing firms (57 percent) and large firms (62 percent) were the most likely to set and monitor these internal targets. Sweden (64 percent) and Spain (59 percent) have the highest share of firms setting and monitoring internal targets on carbon emissions and energy consumption, whilst Ireland (17 percent) has the lowest share,” says the report.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest