Before Ukraine, European companies invested little in energy efficiency

European companies have spent little to improve energy efficiency in 2021. This is the observation made by the European Investment Bank (EIB), which conducted research among 13,000 companies.

Thus, investments aimed at reducing energy consumption made up only 10% of the total amount of their investments last year. This study highlights that one in two companies in Finland (54%) or Austria (51%) are investing to consume less energy in 2021. Conversely, less than one in four companies did so in Lithuania (20%) or France (24%).

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After the attack in Ukraine in 2022, reducing energy consumption has become a key issue for both households and businesses. Not only did the war threaten Europe’s energy supply, but it also caused electricity and gas prices to rise, making bills even more expensive.

European companies are investing in these difficult conditions more in the field climate action Deborah Revoltella, ADB’s chief economist, says. Compared to 2020, the percentage of European companies devoting part of their financial resources to energy efficiency has increased by three points (from 37% to 40%). ” shock “It is the epitome of the war in Ukraine” there must be one more incentive investing in reducing energy consumption.

In any case, European companies are ahead of their American competitors. Only 36% of the latter spent to increase energy reserves in 2021, that is, 4 points less than in Europe.

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Risk of mass deindustrialization according to Medef

In general, the impact of the Ukraine war on private investment in Europe seems to be limited for now. Just over 6% of companies report being financially constrained in 2022, a slight increase in the proportion compared to recent years, but still lower than the 6.78% of companies that were constrained in 2017.

Nevertheless, on the RTL set this morning, Medef president Geoffroy Roux de Bezieux said, ” They are worried that energy prices are two to three times cheaper in the US and China “who knew “Mass Deindustrialization in Europe”. called ” The Germans will show solidarity to avoid competition among European factories “.

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Like gas, electricity consumption has been falling in France since the end of spring, as RTE, the manager of France’s electricity transmission network, revealed at the end of October. ” The reduction in electricity consumption adjusted for weather hazards can now be estimated at about 5% compared to the level before the health crisis. then highlighted in an updated analysis of the electricity scenario for the winter.

Compared to the trend of the first half of the year, the decline is about 3-4% during September 2022, well before the implementation of the austerity plan announced by the government on October 6. The decline is even more pronounced in large industrial companies, where electricity consumption fell by 8-9% compared to pre-crisis levels, according to RTE. comes from The economic slowdown in Europe and, in particular, the sharp increase in energy prices that caused some factories to shut down or weaken “. Companies are even now offering employees to work off-peak hours, RTL reveals.

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