AIB: Irish consumers are now making lifestyle changes to reduce C02 emissions as 42% say they feel the impacts of climate change – AIB Sustainability Index

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Irish consumers are now making lifestyle changes to reduce C02 emissions as 42% say they feel

the impacts of climate change – AIB Sustainability Index

  • 52% of respondents say they currently buy less clothes while 51% also say they use more energy efficient appliances.
  • 61% of people are likely to choose a stay this year, with CO2 reduction being a motivating factor for almost half (42%)
  • Half of people plan or currently take one less flight per year
  • 57% strongly agree that companies should help them make environmentally friendly choices

Live sustainably

Irish consumers are now making lifestyle changes to reduce their C02 emissions according to the latest AIB sustainability index. Research reveals that (42%) of Irish say they feel the impacts of climate change while 84% say sustainability is very or extremely important to them, up 4% from June 2020.

In order to help reduce their C02 emissions, 52% of people say they buy less clothes, 51% say they use more energy efficient devices and 86% of people want to know that what they spend their money on is not harmful. the environment.

The research also found that half (50%) of people plan or currently take one less flight per year, while 20% of people reported living or planning to live without a car. Research also found that 18% of people are considering or currently living as vegans or vegetarians.

The research, which was conducted in June 2021 by Amárach Research, focuses on Irish attitudes, behaviors and intentions regarding climate and environmental sustainability. The index is calculated based on a number of key questions which are then combined to give a score between zero (neither interested nor practicing sustainability) and 100 (interested and practicing sustainability). The AIB Sustainability Index score for June 2021 is 66 compared to 67 in December 2020.

The latest wave of AIB Sustainability Index research also found that:

  • 61% of people are likely to choose a trip this year, with CO2 reduction being a motivating factor for 42% of people.
  • 76% of people expect to be personally affected by climate change in the next ten years and 42% of people said they are affected now, up 5% from December 2020.
  • 83% say farmers are part of the solution to climate change in Ireland, not the problem

The sustainability divide

While many are making lifestyle changes to be more sustainable, many are also reporting

  1. “Sustainability split” with almost half of adults (48%) saying living sustainably can be a financial burden and almost four in ten (39%) say living sustainably is right for them personally. Nevertheless, 47% of adults say they could live more sustainably, even with their current financial means.

The link between sustainability, economy and the cost of living is something that will become even more important in the years to come. More than a third of people (35%) expect to pay a lot more for sustainable products, while 48% expect to pay a little more.

Comment

Mary Whitelaw, Director of Corporate Affairs, Strategy and Sustainability, said: “Our research shows that a significant portion (42%) of Irish society is currently feeling the impact of climate change and recognizing the role that we all have to play in reducing harmful carbon emissions. Interestingly, almost half (49%) of people believe Irish businesses have a responsibility to drive change, increasingly want greener products and services, and expect businesses to reduce their own carbon footprint. We strive to ensure that AIB continues to lead the Irish financial services market by supporting our clients in the required transition to a net zero future. We continue to expand our products and offerings – offering mortgages and green loans to drive adoption of less carbon intensive businesses. We are also committed to achieving carbon neutrality in our own operations by 2030, using a net zero approach. As we continue to make progress, we know we need to do more to ensure a greener future by supporting those who build it today. ‘

Meanwhile, Gerard O’Neill of Amárach Research said: “The conversation about sustainability in Ireland is evolving based on the results of our research. As we enter a post-Covid era, people are looking for ways to make meaningful changes in their lives that have a real impact. It’s no longer about supporting climate goals and other more global goals – although they still do. More and more, it is about changing the way we spend our time, money and energy to have a lasting impact on our families and communities ”.

The role of business

The proportion of people who expect ‘big companies’ to be responsible for the change to tackle Ireland’s environmental problems has risen from 35% in June 2020 to 49% in June 2021. Indeed, as of June 2020 past course

18 months, the percentage of people in the AIB survey who say that a company’s sustainability credentials have a big impact on their decision to buy from that company reached 63%.

Therefore, there are high expectations for the role of business in helping Irish consumers, with the study also finding that:

  • 57% strongly agree that companies should “help me make environmentally friendly choices”
  • The same proportion strongly agree that they “prefer to buy food from Ireland than food transported from all over the world”
  • More than four in ten (44%) strongly agree that “when I spend my money, I want to know that it is not harming the environment”
  • One in three (33%) strongly agree that in the end, “to live more sustainably, we will have to do and buy less”

ENDS

Notes to Editors

  • AIB received an A leadership rating from the Carbon Disclosures Project (CDP) in 2020
  • AIB three-year strategy to 2023 includes our sustainable communities pillar – which sets a clear direction for this important program
  • In 2019, AIB announced a € 5 billion climate action fund to support customers’ transition to a low carbon economy – over € 1 billion in green loans in 2020
  • In November 2020, AIB declared its ambition to make its operations carbon neutral by 2030 using a net zero approach.
  • In the fourth quarter of 2019, AIB launched a green mortgage with a competitive five-year fixed rate, currently 2.15%
  • In 2019, AIB was one of the founding signatories of the UNEP FI Principles for a Responsible Bank.
  • AIB is a supporter of the working group on Climate-related financial information (TCFD) since Q4 2019

Further information

Graham Union [email protected](085) 208 8343

Warning

AIB group plc published this content on July 18, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on July 20, 2021 02:37:10 PM UTC.


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