Foreword Climate change is a health emergency. We are on track for a world that is more than 2ºC warmer than today. This will result in an increased frequency of climate events including floods, droughts, heatwaves, wildfires and tropical storms, as well as longer-term changes such as saltwater intrusion from rising sea levels. These manifestations will have a profound impact on people’s health – with an estimated additional 14.5 million deaths and $12.5 trillion in economic costs between today and 2050. Vulnerable populations – the least responsible for the climate crisis – will bear the brunt of the consequences, primarily in less economically developed economies. We need strong mitigation efforts to avoid the most severe impacts of climate change on nature, the economy and people. However, mitigation alone is not enough. The World Economic Forum’s Climate and Health Initiative focuses on making healthcare systems more resilient and adaptable to the impacts of climate change. In this report, we focus on three key pillars – building the evidence for change, advocating for more resilient healthcare systems and incentivizing action. We also illustrate solutions to prevent the most negative consequences of the impending climate crisis and look at opportunities in which the life sciences industry can play a pivotal role. The COVID-19 pandemic demonstrated that collaboration among policy-makers, industry leaders, academics and civil society can produce solutions that can be deployed rapidly and at scale. The lessons learned from this shock will need to be replicated and amplified to combat the health impact of climate change. Regardless of the solutions, health systems and life sciences innovations need to be mobilized with great urgency, as does the capital required to develop a new portfolio of climate-related products and services. We are confident that the ideas presented through this analysis will inspire leaders to take the decisive, timely and collaborative actions needed.Shyam Bishen Head, Centre for Health and Healthcare; Member of the Executive Committee, World Economic ForumTerry Stone Global Leader of Health and Life Sciences, Oliver Wyman Healthcare in a Changing Climate: Investing in Resilient Solutions January 2025 Healthcare in a Changing Climate: Investing in Resilient Solutions 4

Healthcare in a Changing Climate 2025