Climate change is affecting a large proportion of businesses in the EU. Almost two thirds of companies are making losses because of this. However, not too many companies have taken countermeasures so far.
According to a survey, almost two thirds of companies in the EU are noticing the effects of climate change, such as droughts, floods or changes in weather patterns. This emerges from a Europe-wide survey published today by the European Investment Bank (EIB). According to the survey, 64 percent of companies recorded losses due to climate change last year.
In Germany the rate is slightly lower. In this country, around 16 percent of companies say these phenomena have a significant influence. A further 43 percent of the German companies surveyed reported a slight influence from extreme weather events.
Very few people are insured against climate impacts
Some of the companies have subsequently also made investments to protect themselves against climate change risks. According to the survey, these are only around a third of companies and especially large companies, less medium-sized companies. In addition, only 13 percent of companies are insured against physical risks.
On average, around a third of EU companies increased their efforts to combat climate change, investing more than companies in the United States. Almost all companies are also trying to reduce greenhouse gas emissions (92 percent). Dutch companies are the pioneers here (98 percent), while Greece is at the bottom (68 percent).
The annual survey surveyed more than 12,000 companies in all 27 EU countries from April to July. The survey is said to be representative of all EU member states and of micro to large enterprises and the manufacturing, construction, services and infrastructure economic sectors.