Κλιματικοί κίνδυνοι και επιχειρηματική ευπάθεια : ανάλυση των οικονομικών τομέων NACE στην Ευρώπη βάσει climate hazards
Climate risks and business vulnerability : an analysis of NACE economic sectors in Europe based on climate hazards

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Keywords
Κλιματικοί κίνδυνοι ; Επιχειρηματική ευπάθεια ; Οικονομικοί τομείς NACE ; Business vulnerability ; Climate adaptationAbstract
This thesis investigates and quantifies the vulnerability of European economic activities to the
impacts of climate change. The core of the study lies in the development of a comprehensive
framework of vulnerability coefficients for all sectors of the NACE Rev. 2 statistical classification,
focusing on five critical natural hazards: floods, heatwaves, droughts, wildfires, and landslides.
The methodology is based on an Indirect Estimation approach, assessing the functional and
structural characteristics of 88 economic sub-sectors by translating qualitative data from
international literature and institutional reports (IPCC, JRC, ECB) into a unified quantitative scale
ranging from 0.0 (no vulnerability) to 1.0 (absolute vulnerability).
The analysis reveals a clear divide within the European economy, with capital-intensive sectors
such as manufacturing and transport showing high vulnerability to hydrometeorological disasters,
while intangible services demonstrate greater operational resilience. Particular emphasis is placed
on the role of heatwaves as a horizontal threat that severely impacts labor productivity and
systemically overburdens the healthcare sector.
The study concludes by formulating strategic adaptation recommendations, linking the findings to
contemporary European regulatory frameworks, such as the Corporate Sustainability Reporting
Directive (CSRD) and the EU Taxonomy. Thus, the thesis provides an actionable decision-making
tool for businesses and policymakers in their efforts to safeguard economic activity against the
climate crisis.


