Extreme weather events and the energy transition are already shaping the Austrian economy. The list of consequences is long. Heat waves, droughts and floods can disrupt production, damage infrastructure and endanger global supply chains. There are also so-called inertia risks: preparing too late or not at all for climate risks and new political requirements is becoming increasingly expensive. Possible oil and gas price shocks, changes in consumer behavior, EU legislation and risks in supply chains are causing markets to shift and fossil technologies to become increasingly unprofitable.
