Over one in five companies in Germany, or 21 percent, are already being affected by the negative consequences of climate change, according to a special analysis component of the KfW Climate Barometer 2025. The cumulative figure points to approximately 800,000 businesses.
Especially large corporations with annual revenues exceeding 500 million euros are significantly affected by the diverse impacts of global warming, with 74 percent of them stating that they are at least partially impacted by negative consequences. Among larger medium-sized enterprises-those with over 50 employees but less than 500 million euros in revenue-a slightly lower figure was reported, with 42 percent experiencing effects. For micro-enterprises with fewer than five employees, the rate of reporting noticeable negative consequences stands at only 19 percent.
Dirk Schumacher, Chief Economist at KfW, explained that the heightened exposure of large companies often stems from their international interconnectedness. “Large companies frequently have international supply chains and sales markets. As a result, they are often directly affected when extreme weather events occur, even in regions far removed from Germany” he noted.
The level of concern among major corporations has risen recently. In the 2024 KfW Climate Barometer, only 61 percent of these companies reported sensing some effect from climate change; this figure has increased by 13 percentage points in the latest survey.
Additionally, energy-intensive businesses are particularly vulnerable to the negative outcomes of climate change. Specifically, companies where energy represents ten percent or more of their total costs report being affected: 31 percent of these businesses claim to be at least partially impacted, marking a five percentage point increase compared to the previous year’s survey.