Suma Capital, together with the consulting firms Salvetti Llombart and GreeMko, has presented the ‘Suma Net Zero Index’ report, a pioneering study that explores the perception and reaction of the Spanish population to the need to reduce carbon emissions, offering an unprecedented perspective that places the individual at the center of the debate on decarbonization.

In a global context where the urgency to combat the climate emergency is becoming increasingly evident, and where it is crucial not only to understand and comprehend the technological solutions and public policies implemented to reduce emissions, Suma Capital approaches the demand for decarbonization from the citizenry, exploring individual attitudes, behaviors and motivations towards sustainability. This novel approach contrasts with the traditional view of studies and analyses on decarbonization processes that focus only on the supply side, from the role played by companies, investors and public entities.

Thus, Suma Capital proposes to approach the understanding of sustainability and climate change holistically and especially, with this new index, from a differential and pioneering angle: the demand for decarbonization of citizens and, specifically, of each individual.

The objective of this analysis is twofold. First, to identify the different attitudes and behaviors that citizens adopt towards decarbonization. Second, to explore the factors that motivate or inhibit these behaviors. The study takes a detailed snapshot of how citizens approach the challenge of sustainability in their daily lives and the speed with which they are meeting the challenge of participating in the achievement of Net Zero within the established timetables.

Main findings of the report:

• Typologies of citizens in the face of decarbonization: 43% of respondents consider themselves proactive and aware of the need to reduce carbon emissions (Believers). Another 41%, despite being fairly aware, have little faith and hope in achieving a green future (Hopeless). Thirdly, 15% still show no interest or awareness of the problem (Skepticals).

• Habits and main barriers: 1 in 2 citizens find it very or quite difficult to adopt more sustainable habits in their daily lives. Waste management is considered the easiest habit to change for 49% of the population, followed by consumption of goods (46%) and transportation habits (40%). In contrast, changing eating habits is perceived as very or fairly difficult by 64% of the population, followed by domestic energy consumption, with 74% of citizens perceiving it as the most difficult to adjust. In this sense, 67% of respondents identify economic barriers, highlighting the lack of subsidies (70%) and a limitation of their economic resources (57%), as the main obstacles to progress with greater intensity, while 33% mention the change of routines as the main difficulty.

• Sustainability and economic growth: 56% of Spaniards believe that it is possible to achieve Net Zero without compromising economic growth. However, 53% of young people from the so-called ‘Generation Z’ prioritize economic growth over decarbonization, while 63% of the so-called ‘Baby Boomers’ see both objectives as compatible.

• Perceived responsibility: The majority surveyed believe that the responsibility for moving towards decarbonization lies primarily with governments and companies, with only 47% attributing this responsibility to the general public and 38% to each individual.

• Awareness and education: 71% of the population acknowledges a lack of awareness and training about their personal carbon footprint, with a lower perception among ‘Generation Z’ (59%) compared to ‘Baby boomers’ (75%).

• Impact of purchasing power: Although high-income citizens invest in sustainable equipment (40% increase in use of renewable sources, doubling of electric vehicles and tripling of solar panels), their lifestyle generates higher emissions (40% increase in annual km in combustion car, doubling of personal flights and online and clothing purchases).

• Generations and sustainable habits: ‘Generation Z’, despite being more informed and aware, does not give up its lifestyle, causing notable impacts. In contrast, ‘Baby Boomers’ practice more sustainable habits, although they self-assess themselves as less knowledgeable about sustainability issues.

• Underestimation of the real impact: Citizens underestimate the real impact of their mobility, shopping and energy consumption habits, with mobility being a clear example (real weight of 32% vs. perception of 23%).

• Estimated reduction of the carbon footprint: Based on their current footprint and their intended future habits, the study estimates that the footprint of citizens will be reduced by 3.5% in the coming year, resulting in a reduction of 12.3 M kg CO2. Specifically, it is concluded that a lower demand for air travel, technology purchases, red meat consumption and electricity consumption would be the vectors of action that would generate a greater reduction in the emissions of citizens. On the other hand, in the area of waste, it will be more difficult to achieve an increase in demand given the high percentage of citizens who have already adopted recycling as a habit.

The index was officially presented during the V Suma Sustainable Summit, the annual sustainability meeting organized by Suma Capital in Madrid.