Economy affected

These are the “creeping” risks of climate change

More heat leads to more stress and more errors at work.

(Bild: juefraphoto/stock.adobe.com)

A record summer lies behind us. A flood of the century has made many people aware of the effects of climate change. But there are also some insidious risks of global warming. In the "Krone", an actuary shows what we could be facing.

"It's not just the catastrophic events that are causing us concern; at the same time, a creeping change is taking place in our environment," emphasizes Christoph Krischanitz, independent actuary and former president of the Actuarial Association. These are just three examples of where climate change is causing costs that are not visible at first glance:

Gesundheit, Landwirtschaft

Warmes Klima begünstigt Schädlinge

New animal and plant species are making their way into Austria, bringing not only tropical fruits, but also diseases, allergies and intolerances. The invasive species that are spreading in Austria include a particularly large number that also trigger allergies. And bad news for pollen allergy sufferers: if the winter is mild and the fall is warm, the season is extended and hay fever becomes more of a problem.

One invasive species, for example, is the tiger mosquito, which brings dangerous viruses from the south to Central Europe. "Climate change will cause rising costs in the healthcare system. We need to keep this on our radar," says Krischanitz.

"It's not just the catastrophic events that worry us. It's also the creeping changes."

Versicherungsmathematiker Christoph Krischanitz

Bild: Foto: WILKE

And new insects are a threat to agriculture: more and more species from warmer climate zones are making their way to Central Europe. The EU Commission has defined 20 plant pests. One example is the green rice bug, which has become increasingly common in recent years.

The bark beetle, on the other hand, has long been a known problem. In 2023, it caused damage amounting to almost four million cubic meters of wood in one year - a doubling in just two years, which not only eats away wood but also yields for farmers and foresters.

Folgen der Rekordhitze

Mehr Unfälle, Probleme am Arbeitsplatz

The heat is also having an impact on the economy. According to the AK, there are 5 to 7 percent more accidents at work on days with temperatures above 30 degrees. Figures from the International Labor Organization (ILO) show the extent of this: Every year, there are around 22.9 million heat-related accidents at work globally, 19,000 of which even end fatally.

Lack of concentration is also on the rise, as are mental illnesses. When it is very hot outside, many people retreat home. Almost one in three people in this country suffers from mental illness, which costs the healthcare system a lot of money. 

In addition, the quality of sleep decreases, which in turn makes employees less productive and aggression increases. This can be seen not least in road traffic. According to the VCÖ, there are more than 20 percent more accidents on days with temperatures above 30 degrees. This also drives up overall accident costs. "Insurers must take these risks into account. If there are more accidents, the payments for them also increase," says Krischanitz.

Gefahr für Tourismus

Skipisten schmelzen dahin

Austria is a tourist country. Climate change is also having an impact here. Many hotels and ski businesses could not only lose the snow, but also their turnover. This makes such companies uneconomical in the long term. According to a study by the University of Bayreuth, there will be 13 percent fewer ski slopes in Europe by the end of the century.

The average number of snow days in the European Alps will fall from 218 (1981-2010) to currently 187 (2024). One in eight ski resorts worldwide could run out of natural snow by the end of the century due to climate change. Broken down to Austria, this means that while 87 percent of ski slopes were still considered "snow-sure" in 2010, only two thirds will be by 2030. By 2050, with global warming of 2 degrees, only half of the slopes will still have snow, and by 2100 (+3 degrees) only a fifth.