Based on data from a large-scale survey of German businesses, it is investigated how businesses assess the acute physical climate risk presented by the increased frequency of natural hazards: droughts, storms, extreme heat, heavy precipitation, and floods. The results suggest that experience has a large effect on the perceived probability of hazard events, but no effect on their expected consequences. Objective risk criteria such as firm size, industry, and location characteristics inform expectations independent of experience, and, depending on the hazard, even to a larger extent than experience.
Working Papers | 2025 Climate risk perceptions of businesses: the role of experience and objective risk factors
Rieger-Fels, M. (2025): Climate risk perceptions of businesses: the role of experience and objective risk factors., in: IfM Bonn Working Paper 01/25, Bonn.