Business on the Edge 2024

3.5 Health and well-being socio-economic system Global spending on health reached $9.8 trillion in 2021, a new high equivalent to 10.3% of global GDP .109 Floods are expected to cause 8.5 million deaths by 2050.Healthcare systems account for an average 4.6% of global CO2 emissions.110 By 2050, an additional 500 million people may be at risk of exposure to vector-borne diseases.Climate crisis will lead to an additional ~14.5 million deaths by 2050 – 79% in low-and middle-income countries. Risk of damage to hospitals from extreme weather events has increased by 41% since 1990.Data overview – health and well-being system BOX 6 Climate risks threaten societal health and healthcare Health and well-being are at the heart of society’s ability to prosper and thrive. However, climate hazards pose significant risks to global healthcare systems, increasing death and disease while exacerbating inequalities. Extreme heat, droughts, tropical cyclones and floods threaten healthcare by damaging infrastructure, disrupting supply chains and raising operational costs. Climate hazards also undermine preventive health by limiting physical activity, worsening nutrition and increasing mental health issues, driving up healthcare demands. Additionally, declining biodiversity threatens the discovery of new drugs, with one potential breakthrough lost every two years as natural sources of medicines disappear.111 Business on the Edge: Building Industry Resilience to Climate Hazards 36