Inaction on climate protection costs money: Failure to meet the 1.5 degree target also has serious economic consequences. Without decisive climate protection, global GDP losses of up to 22 percent are threatened by the year 2100. The risks are already noticeable today: extreme weather events are increasingly causing economic losses. Companies could record EBITDA losses (before taxes) of up to 25 percent within the next 20 years as a result of these events.

Companies can prevent up to 50 percent of losses by 2030 by driving forward their decarbonization and reducing the cost of CO2 certificates. These figures make it clear that a sustainable transformation is essential for companies to remain future-proof.

Ecologization as an Opportunity

The transformation to a green economy also offers immense opportunities. According to BCG, the global market for future technologies and products will grow to over USD 14,000 billion by 2030. The largest segments include alternative energies, sustainable transport and sustainable consumer goods. Companies that invest in these markets early on can secure their long-term competitiveness.

The global competition for future technologies such as renewable energies and energy storage has already begun. This also offers a great opportunity for Europe and Austria: an ambitious greening of industry could increase Austria's GDP by 3.3 percent by 2050, compared to a business-as-usual scenario.

From Goals to Action

73 of the 100 largest Austrian companies have now defined quantitative climate protection targets - an increase of 14 companies compared to 2022. A fifth of these companies have since made their targets more ambitious. However, there have also been setbacks: ten companies have scaled back their targets.

Despite the progress, much remains to be done. These 100 companies are still responsible for more than a third of Austria's total emissions. Their role is crucial to achieving the goal of climate neutrality by 2040.

In order to exploit this transformation potential, determined industrial policy and clear framework conditions are essential. This is the only way to create the necessary planning security to promote investments in a green economy.

Setting the course for a sustainable future

The results of the study show that climate protection is far more than just an ecological task. Companies and governments have a responsibility to actively drive the transformation. The costs of inaction are immense - at the same time, future technologies and sustainable strategies offer enormous economic opportunities.

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