Executive summary Climate change is already causing global public health challenges. Drought in eastern Africa has affected more than 10 million people.1 Hurricanes in the southern United States have left hundreds dead and thousands homeless.2,3 Mosquitoes are now spreading dengue fever in record numbers beyond their usual geographic range.4,5 The World Economic Forum’s January 2024 report Quantifying the Impact of Climate Change on Human Health,6 assessed the health and economic impacts of weather events aggravated by global warming, such as flooding, drought, tropical storms and rising sea levels. By 2050, these impacts are projected to cause an additional 14.5 million deaths and cost the global economy $12.5 trillion. On an annual basis, the losses are comparable to the gross domestic product of Singapore. This report looks at the measures that the global economy can pursue to mitigate these anticipated impacts. Through investment in vaccines, medicines, medical devices, health-tech and climate services, 6.5 million lives could potentially be saved, global economic losses reduced by $5.8 trillion and one billion fewer disability-adjusted life years accrued (DALYs). The active support of life sciences innovators will be crucial – and the prospect of such positive impacts should provide incentives for collaboration among governments, academia, civil society and the private sector. The climate crisis will demand global coordination on an even greater scale than was needed during the COVID-19 pandemic. Research conducted for this report finds that a series of rapid, focused R&D investments totalling $65 billion over the next five to eight years will be required to mitigate potential climate-related challenges. This amounts to less than 5% of normal annual R&D spending by the pharmaceutical industry. To effectively address the health and associated economic impacts of climate change, it is essential to develop innovative funding mechanisms and harmonized global regulatory frameworks that encourage investment in climate-driven health solutions. This will require coordinated action between life sciences innovators, different government agencies and nations, regulatory bodies and non-governmental organizations (NGOs), as well as health systems actors, investors and academia. Integrating climate and health data will further support innovation, connecting scientists across health and environmental fields, while creating platforms and other digital tools to collect and circulate the data. Development of effective distribution systems and infrastructure to disseminate new treatment protocols and raise public awareness will be required to support the transition to resilient healthcare systems. The brunt of climate-driven illnesses will be borne by the most vulnerable populations in less- developed economies. Part of the global healthcare challenge will be to tailor treatment protocols and services to local settings, bolster local health systems and address all social determinants of health. A comprehensive and coordinated approach is needed to upgrade the capacity of global health systems to treat diseases most aggravated by climate change.By filling the $65 billion investment gap, 6.5 million lives could be saved and global economic losses reduced by $5.8 trillion. R&D investments totalling $65 billion over the next five to eight years will be required to mitigate potential climate-related challenges – less than 5% of normal annual R&D spending by the pharmaceutical industry. Healthcare in a Changing Climate: Investing in Resilient Solutions 5

Healthcare in a Changing Climate 2025