Issue link: https://maltatoday.uberflip.com/i/1512576
6 maltatoday | SUNDAY • 3 DECEMBER 2023 NEWS MATTHEW VELLA mvella@mediatoday.com.mt AFTER another challenging year marked not only by infla- tion but also by record heat- waves and droughts, Maltese respondents to the Climate Sur- vey of the European Investment Bank have said they are now more acutely aware of the pro- found impact of climate change and the need for immediate ac- tion in Malta and around the world. While the rising cost of living is considered the number one challenge for Maltese respond- ents – 78% placed it in the top three concerns for their coun- try, 10 points above the EU av- erage – climate change impacts and environmental degradation are not far behind, with 67% considering them a major con- cern (17 points above the EU average). This is the EIB's sixth edition of its Climate Survey, which since 2018 offers insights in- to the climate change-related views of people in major econo- mies around the world. The EIB is the lending arm of the Eu- ropean Union and the world's largest multilateral lender for climate action projects. Earlier this year, the Maltese experienced a 10-day heat wave that washed over the islands, with air temperature exceeding the 40°C mark on six days. The heatwave peaked on 24 July, when a maximum temperature of 42.7°C was recorded – 11°C higher than the maximum tem- perature norm for the month. Demand for a just transition at home Faced with the high cost of liv- ing, most Maltese respondents are calling for fair policies to address the climate emergency. 65% - close to the EU average – say the transition to a low-car- bon economy can only happen if social and economic inequal- ities are addressed at the same time. However, respondents are more split regarding the gov- ernment's ability to carry out such a just climate transition – 52% say they are confident, and then still 14 points above the EU average of 38%. Even on the question of com- pensation to developing coun- tries to help them deal with the impacts of climate change, most Maltese respondents are in fa- vour of extending aid to coun- tries most vulnerable to climate change. Taxes for just transition The EIB survey results also show that the vast majority of Maltese respondents – 73%, 14 points above the EU average of 59% – are willing to pay more income tax to help lower-in- come households cope with the costs of a green transition. 44% would agree to pay an extra 1-2% of their income and 29% would agree to an extra 5-10%. There is also strong consen- sus in favour of other kinds of climate-related policies. For example, 93% said they would favour a fossil fuel tax reform to eliminate subsidies and tax breaks for the aviation sector and other industries that rely heavily on fossil fuels. "Small islands are among the most vulnerable to the ef- fects of climate change," said EIB Vice-President Gelsomi- na Vigliotti. "This is shown by the latest EIB Climate Survey, which underlines how people in Malta are more concerned than those in other countries about the climate emergency and en- vironmental degradation. The EIB has taken special care to help climate projects benefit small islands. As the EU climate bank, we stand ready to further support climate action in Eu- rope and beyond." Maltese back taxes for climate transition after summer heatwave Malta experienced a 10-day heatwave in July this year In July, the Maltese experienced a 10-day heat wave that washed over the islands, with air temperature exceeding the 40°C mark on six days