The health of the planet and workforce are more connected than we may realize.
A new World Economic Forum report, Building Economic Resilience to the Health Impacts of Climate Change, warns that climate-driven illnesses could cost the global economy at least $1.5 trillion in lost productivity by 2050. It calls out a "dangerous gap" in global climate adaptation funding for health, with less than 5% directed to protecting people from worsening climate-health risks.
What is the 'dangerous gap'?
The phrase refers to the lack of investment in protecting human health from climate impacts. While billions of dollars are spent on adaptation measures related to infrastructure and energy, far less is devoted to reducing health burdens tied to rising temperatures and more frequent and severe extreme weather, leaving businesses and communities vulnerable to escalating health risks.
Why climate-health risks matter now
At its core, the warning is about economics as much as well-being. If workers are sick or unable to work safely due to extreme heat, air pollution, or waterborne diseases, for example, businesses across several sectors will suffer.
The WEF projects staggering losses by 2050: $740 billion in lost labor for food and agriculture, $570 billion in losses in the built environment, and $200 billion in lost output for health care. Additionally, it estimated an added $1.1 trillion in treatment costs for climate-related illnesses.
"We are entering an era in which protecting worker health is proving essential to business continuity and long-term resilience," said Eric White, head of climate resilience at the WEF.
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Why does preventing loss cost less than inaction?
Making workplaces, supply chains, and infrastructure climate-resilient can be expensive — but failing to act will cost far more. Escalating health care costs, ongoing supply chain issues, and lost worker productivity add up, with the projected trillions of dollars in losses dwarfing the investments needed today. Taking action protects people and can create new growth markets in climate-smart health solutions.
The WEF outlined eight ways companies can act, ranging from expanding health benefits and investing in climate-health research to upgrading infrastructure and preparing for more climate-driven emergencies. The report notes that businesses that move quickly may gain a competitive edge by meeting growing demand for climate-resilient products such as artificial intelligence-powered monitoring tools and safer buildings.
Additionally, practical steps such as installing cooling systems in hot regions and educating workers about climate risks can help to safeguard productivity and reduce long-term costs.
Understanding the links among climate risks, health, and business resilience is part of a larger picture. Exploring critical climate issues can help companies and communities see where their vulnerabilities lie and explore solutions to deliver the biggest impact for people and the planet.
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