Around a quarter of all carbon dioxide emissions in 2018 were attributable to activities by households, a share on par with that of the manufacturing sector and just a tad below power generation. Even more striking: progress in recent years has been dismal. While manufacturing and power generation have reduced their carbon footprints by 20% and 27%, respectively, since 2008, households have only managed a 9% reduction. The consequence: The share of households’ emissions increased by 2pp over the last decade. 

In our latest “Allianz Pulse”, we surveyed a representative sample of 1,000 people in France, Germany and Italy,  asking them, among other things, about their willingness to pay higher prices for climate-friendly products, from food and clothing to mobility and housing. The results are sobering: just under half of respondents in France and Germany said they were willing to pay more for climate-friendly products. And of those, 32% (France) and 35% (Germany) were only prepared to accept a maximum of 10% higher prices. Genuine willingness to pay looks different. Italy fares a little better in that respect: only 36% of those surveyed in Italy were unwilling to pay; 41% would pay up to 10% more. But the group of respondents who would be prepared to pay significantly higher prices – i.e. 10% and more – is very small in all three countries (just over 20%).

The Greta-effect is clearly visible as millennials are three times as likely to pay 10% or more for climate-friendly products than pensioners. 

This age pattern is very similar in all three countries. But even among the younger generation, the share of respondents who were willing to actively contribute to climate protection is surprisingly low: 37% in France and 32% each in Germany and Italy. These numbers, however, should be interpreted with care. The pandemic-induced economic slump of recent months – which has hit the younger generation disproportionally – might have dented their willingness and ability to make cuts for the sake of climate protection.