A recent EIB survey showed that 94 per cent of the EU population consider climate action a top priority.
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00:00President of the European Investment Bank, Nadia Calvino, spoke to Euronews at COP29
00:07in Baku about the importance of private sector and the economy play in driving the green
00:12transition.
00:14She emphasized that investing in adaptation is just as important as in prevention.
00:19The Spanish economist, who spoke in light of the deadly floods that devastated the east
00:23of Spain at the end of October, said the economical impact of extreme weather events, which are
00:28becoming more frequent and intense, is inevitable.
00:31It is a no-brainer that we need to invest in resilience, adaptation and prevention.
00:39One dollar invested in adaptation and resilience actually saves five to seven in repairs and
00:46compensation of damages.
00:48And of course, there are some damages which are irreparable, like the loss of human lives.
00:53Calvino also referred back to a survey by the European Investment Bank, which shows
00:57that 94% of the population consider that climate action should be a top priority going forward.