Experts say that if no precautions are taken, the damage caused by global warming will be much greater. However, according to a survey, only a minority of German companies are preparing for climate change.
According to their own statements, a minority of German companies are taking measures to protect against the consequences of climate change. In a representative survey conducted by the state development bank KfW, 14 percent of all companies stated that, for example, they would improve the heat protection of buildings or secure premises and systems against flooding.
Big companies are ahead
For an evaluation available to the German Press Agency, KfW surveyed almost 11,000 companies last year. In contrast to small and medium-sized companies, large companies are obviously better prepared for the effects of climate change. More than half (57 percent) of them are already taking appropriate measures.
According to KfW, companies that adapt also invest significantly more frequently in climate protection. According to the experts, this is probably due to the fact that there is a greater awareness of the crisis and its worsening consequences.
According to the survey, 15 percent of German companies are currently affected by the negative consequences of climate change, but larger companies much more frequently (44 percent) than smaller ones. Around a quarter of the companies surveyed assume that they will be adversely affected by the effects of climate change. For example, weather-related disruptions to operations or supply chains are expected, for example because crops fail, cooling water is scarce or low water levels in rivers impede transport.
Immense damage to be feared
According to experts, the damage that Germany could face as a result of climate change threatens to be immense: costs of up to 900 billion euros could arise by the middle of the century. This is the result of a study presented by the Federal Ministries for the Environment, Economics and Climate Protection in March of this year.
The authors of the study point out that adaptation measures could significantly reduce costs depending on the scenario. Accordingly, the costs of weak climate change could be completely avoided, with moderate climate change a reduction in damage of 110 billion euros and with severe climate change by 350 billion euros is possible.