AXA reveals research results: "Heatstroke threatens workers and the global economy"

Global warming is no longer just a distant environmental issue; it is directly impacting the health of workers and creating a huge economic burden. According to a new study by AXA Investment Managers, the global asset management arm of the AXA Group, global warming is creating stress for people and economies, an issue that investors and policymakers should not ignore.

The effects of rising heat could be a silent threat to workers and economic costs, with AXA research highlighting key issues:

1. Workers face high health risks More than 2.4 billion people worldwide, or 70% of the workforce, are exposed to “heat stress” due to rising temperatures, which can lead to serious health problems such as heat exhaustion, heat stroke or heatstroke, and worsen chronic conditions such as cardiovascular and respiratory diseases.
2. Huge economic costs The impact of heat stress is already having significant economic consequences. Heat-related work hours lost could reach $2.5 trillion by 2030, representing more than 1% of global GDP, and could surge to 4% by 2100 if no action is taken.
3. Vulnerable groups are the ones who are most affected. Heat stress affects people differently, with vulnerable groups such as the elderly, outdoor workers like farmers, and those with chronic health conditions being at higher risk. In addition, extreme heat can impact mental health, increase accident rates, and reduce productivity.
4. More than just temperature Assessing heat risk requires consideration of factors other than temperature, such as humidity and wind speed. Two important indices that help provide a clearer understanding of risk are the Wet-Bulb Globe Temperature and the Heat Index.
5. Regulations for labor protection Efforts are underway to develop new regulations to protect workers from heat hazards. For example, in the United States, measures for monitoring and evaluation, training and adaptation, and data recording related to heat stress are being proposed to ensure worker safety.
6. Investment considerations As heatwaves increase, risks not only pose to individuals, but also to businesses and countries, investors should consider the risks associated with heat stress when planning their investments, particularly in sectors with the highest risk, such as agriculture, which could be severely impacted.

This Krungthai-AXA Life Insurance Public Company Limited As an environmentally conscious insurance company, or Green Insurer, we have been continuously pushing forward with our Climate Change & Biodiversity policy. This year, the company is focusing on air pollution, emphasizing the restoration of clean air and the reduction of carbon dioxide emissions, which are the cause of global warming.

Key projects undertaken by Krungthai-AXA Life Insurance include the Commit To Climate project, now in its fourth year, focusing on restoring clean air year-round; the Save Our Sea project, a long-term project supporting sea turtle nurseries, mangrove planting, and providing knowledge on marine environmental conservation to Thai youth; and the Save Our River project, which supports electric boats (EV boats) and installs recycling bins to help manage waste at the source before it flows into rivers and the sea.

Krungthai-AXA Life Insurance has also been ranked No. 1 in the AXA International Market and No. 1 in Southeast Asia for nine consecutive years in the Corporate Responsibility (CR) category, according to the AXA Sustainability Index 9, with the highest score in Asia at 2024 points.

“The company reaffirms its commitment to sustainable social and environmental support and is committed to supporting and caring for all stakeholders. For product and service inquiries, please contact the Customer Service Center at 1159 or visit www.krungthai-axa.co.th. Follow our social projects on Facebook: Hearts in Action Volunteers.”