SINGAPORE: Citizens in Europe, the United States, China and Japan believe their countries should compensate poorer nations to help address the impact of climate change, a European Investment Bank (EIB) poll of more than 30,000 people shared with Reuters showed.
The fifth annual climate survey conducted by the bank revealed a broad global consensus to fund the fight against climate change, even if it means higher taxes and the elimination of fossil fuel subsidies.
But concerns about the economic impact of climate action still prevailed across the world, with most respondents saying the transition to a low-carbon economy would only be successful if it also addresses inequalities, the survey revealed.
“The latest EIB Climate Survey underlines people’s profound awareness of climate change and their commitment to tackle it head-on,” said EIB vice president Ambroise Fayolle.
“They recognise that a successful transition to a climate-neutral world goes hand in hand with addressing social and economic inequalities at home and globally,” Fayolle said.
Climate finance for adaptation and loss and damage will be a key issue at COP28 talks set to begin in Dubai this week, and more than 60 per cent of respondents in the European Union and the United States agreed their countries needed to provide funds, said the EIB, the lending arm of the European Union.