Newsletter 25th November 2022

People Want to Tackle Climate Change but Won't Pay

Nearly two-thirds of UK customers are eager to reduce their carbon footprint, but not if it costs them money.

New data suggests older age groups are hesitant to spend their cash in helping to preserve the world, with 70% of those aged 55 to 64 stating they wouldn't spend their own money on solar panels or electric vehicles (EVs), compared to 63% across all ages and 57% of younger individuals aged 18 to 24.

The green digital bank Tandem poll demonstrates that Britons are anxious about the changing environment but unwilling to invest in improvements during a cost-of-living crisis.

This difference between what people think and what is true is shown in The Green Gap, a new quarterly index from the bank.

50% of respondents feel they are?doing enough to lessen their environmental effects, suggesting a considerable gap between present and required habits.

Men (54%) are more likely than women to believe they're doing enough (47 per cent). Women (72%) are more inclined than males (68%) to consider climate change must be addressed promptly; women?are also more prone to request advice.

70% of Britons say climate warming is a critical issue, and the same amount thinks financial incentives would increase green measures. However, One-third are sceptical or doubtful about the necessity for quick action. Those living in rural regions (64%) are less likely to believe climate change should be handled promptly than those living in cities (74%), with half of the customers (49%) not knowing their EPC rating and 58% don't have smart meters.

Between September 30 and October 3, Survation interviewed 2,080 UK adults aged 18 or older online. Data is weighted based on the profile of adults in the UK, as well as the population by age, gender, and region, and the Office for National Statistics data is used to set goals that match the weighting.