Energy costs emerge as a key concern for firms in Croatia, found the European Investment Bank (EIB) in its annual EIB Investment Survey examining companies’ finance needs and the constraints they face.
The survey found that the Croatian economy bounced back from the COVID-19 crisis in less than two years, but vulnerability persists in the face of new shocks. For nine out of ten firms, energy costs emerged as a top long-term investment constraint in Croatia, together with the availability of skilled staff and uncertainty about the future.
The survey shows that nearly six in ten firms in Croatia report that weather events negatively affected their business. However, one in three Croatian firms have already developed or invested in measures to build resilience against the physical risks caused by climate change.
The energy crisis amplified concerns about rising energy prices. Some 36 per cent of firms in Croatia have invested to enhance energy efficiency in the last year, close to the EU average of 40 per cent. Firms invest more in energy efficiency if they are large, and if they have felt the impact of climate change and energy costs, the report shows.
“As our semi-annual investment survey shows, the energy crisis has increased concerns among Croatian companies due to rising energy prices,” said EIB Vice-President Teresa Czerwińska adding that the EIB plans to mobilise up to 115 billion euros in new investment by 2027 to support the REPowerEU plan to diversify sources of secure, clean energy, speed up the energy transition and improve energy efficiency across the European Union. “The EIB Group is ready to ensure Croatia can benefit as much as possible from this major investment drive,” she underlined.
