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MNI BRIEF: EZ Firms Climate Change Fight Costs - ECB Survey

(MNI) LONDON
(MNI) London

The adoption of new technologies and production methods to help mitigate climate change will lead to higher investment costs and an increase in both input and output costs, according to a recent ECB survey of leading firms published just ahead of the central bank's June Economic Bulletin.

In total, 80% or more companies agreed that mitigating climate change would require their firms to adopt technologies that did not yet exist, that substantial investment was needed to make products based on new technologies or materials to meet customers’ needs, the report suggested.

Aa similar number said mitigating climate change would make the raw materials and components they use more expensive, carbon prices into a relevant cost component and the energy they use more expensive, slightly more than the amount who agreed this would increase the price of the goods and/or services their company provides.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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