EU survey shows stronger public backing for renewable energy shift

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EU survey: public supports renewables

Highlights

Three quarters of EU citizens see an urgent need to move away from fossil fuels, and 87% want low-carbon energy prioritised, per the EIB survey before COP31.
Higher fossil fuel prices, partly due to the U.S.-Israeli war on Iran, reinforce EU public support for renewables, especially solar (52%) and wind (37%), over nuclear (19%).
The European Investment Bank plans to double annual energy financing to 33 billion euros by 2025, signing 100 billion euros for over 870 projects next year.

Survey findings before COP31

As reported by Reuters, the European Investment Bank says three quarters of EU citizens see moving away from fossil fuels as urgent, while 87% want the shift to low-carbon energy to be prioritised. The findings are shared ahead of the COP31 climate talks next week, as European governments also face pressure from wars, protests and tight public finances.

The survey suggests higher fossil fuel prices are reinforcing support for renewables in the import-dependent EU. It says the U.S.-Israeli war on Iran, by pushing up fossil fuel costs, has helped convince more people that renewable energy is the best answer to rising bills.

EIB Group President Nadia Calviño says in a shifting geopolitical environment the transition is both beneficial for the climate and economically sensible, particularly if it lowers energy costs for businesses and households. Support for prioritising low-carbon energy is up from 82% in the bank's 2022 survey, which was conducted during the earlier energy crisis linked to Russia's full-scale invasion of Ukraine.

Clean-tech preferences and financing implications

Among low-carbon energy sources, solar is the most popular choice, with 52% of respondents saying it should be the main focus. Wind follows at 37%, while nuclear is the least popular option at 19%.

The survey also shows that, while respondents support urgent action, many place weight on industrial self-reliance. More than half, or 55%, say they would prefer the EU to develop its own clean technology even if deployment takes longer, despite China's lead in wind, solar and batteries.

The eighth EIB Climate Survey is conducted with Ipsos bva between Aug. 3 and 25 and weighted to reflect each country's population. The bank says its annual energy financing has doubled since 2022 to 33 billion euros in 2025, while it signs 100 billion euros in new financing and advisory services for more than 870 projects in 2025.

Mario Draghi’s warning on the risks of overly restrictive monetary policy highlighted how keeping interest rates above growth for too long can worsen debt dynamics and ultimately crowd out the productive investment needed for long-term resilience. Our earlier article noted his view that central banks should prioritise inflation control while keeping rates no higher than necessary, alongside EU-level measures such as market integration and targeted budget support to de-risk strategic investment.

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