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One In Five EU Workers Faces High Temperatures On The Job As Heat Risks Escalate

One in five workers across the European Union is exposed to high temperatures on the job, highlighting how extreme heat is becoming one of the fastest-growing workplace risks linked to climate change, according to the European Agency for Safety and Health at Work (EU-OSHA).

The warning comes as Europe experiences one of its most intense heatwaves in recent years, with soaring temperatures disrupting daily life, straining healthcare systems and affecting millions of workers.

Productivity Comes Under Pressure

Robert Marks, chief climate economist at Oxford Economics, said temperatures between 30°C and 40°C can significantly reduce productivity and disrupt operations across sectors such as construction, agriculture, manufacturing, retail and hospitality, where employees often work in uncontrolled environments.

As temperatures rise above 30°C, businesses typically face a double challenge: lower labour productivity and higher energy costs for cooling buildings and equipment.

Cyprus Faces Growing Heat Risks

The issue is particularly relevant in Cyprus, where increasingly frequent heatwaves have renewed attention on workplace safety, especially for outdoor workers.

When necessary, the Labour Inspection Department issues heat stress guidance based on the Wet Bulb Globe Temperature (WBGT) index, which takes both temperature and humidity into account. During periods of extreme heat, restrictions are commonly introduced for heavy and moderate outdoor work, including certain delivery services during the hottest hours of the day.

In 2025, the department issued at least five heat-related notices covering emergency measures and temporary work stoppages. No comparable emergency order has been identified so far in 2026.

Climate Change Is Expanding Workplace Risks

According to EU-OSHA, climate change is exposing workers to a broader range of occupational hazards, including extreme heat, ultraviolet radiation, air pollution and increasingly frequent extreme weather events.

Heat stress can lead to dehydration, fatigue, heat-related illness and reduced concentration, increasing the likelihood of workplace accidents. Limited recovery between shifts, particularly where homes lack adequate cooling, can further worsen health risks.

The agency also points to growing exposure to floods, wildfires and poor air quality, which increase the risk of injuries, respiratory diseases and other health problems. Emergency responders face additional hazards, including toxic gases, fire and psychological stress.

Employers Expected To Adapt

EU-OSHA says employers should assess climate-related workplace risks and introduce preventive measures, prioritising engineering and organisational controls before relying on personal protective equipment.

Common measures include adjusting working hours, increasing rest breaks, providing drinking water, improving ventilation and cooling, and supplying appropriate protective clothing. The agency also recommends heat action plans, worker training and the use of digital tools such as heat-alert systems.

Outdoor Workers Face The Greatest Exposure

Outdoor occupations remain the most vulnerable to rising temperatures and extreme weather. Agricultural and forestry workers, construction employees, firefighters, police officers and rescue personnel face elevated risks from heat stress, physical exhaustion and hazardous conditions.

Indoor workers are also affected. Employees in poorly ventilated buildings or high-temperature industries, as well as healthcare staff wearing protective equipment during heatwaves, face a higher risk of heat-related illness while demand for medical services increases.

As Europe adapts to a warming climate, heat is becoming more than a seasonal challenge. For employers and policymakers alike, it is increasingly a workforce, productivity and economic issue requiring long-term adaptation.

The Forbes Global 2000 Added $30 Trillion. AI Drove The Repricing

The 24th annual Forbes Global 2000 records highs in sales, profits, assets and market value. But there is one number that stands out from the rest.

The combined market value of 2,000 of the world’s largest public companies jumped 31.8% this year, adding more than $30 trillion (approximately €27.8 trillion) in shareholder value in the last twelve months.

Combined sales reached $56 trillion (approximately €51.9 trillion), up 6%. Profits climbed 13.9% to $5.5 trillion (approximately €5.1 trillion). Assets grew 12.9% to $272 trillion (approximately €252 trillion). However, none of these figures explains what actually happened at the level of the market.

The biggest change occurred in markets related to technology. Hardware, semiconductor, and software firms now account for 209 companies on the list, up from 186 last year. Their combined market value has nearly doubled from $23.9 trillion (approximately €22.2 trillion) to $41.4 trillion (approximately €38.4 trillion). That single cohort accounts for 57% of the entire list’s market value increase from last year. The driver appears to be the market’s appetite for anything AI-related.

The market has not been fully welcomed. Some still fear the threat of a bubble. Others see a market that still has room to run its course.

Richard Attias, chairman of the non-profit Future Investment Institute, ahead of the Forbes Iconoclast Summit in New York earlier this month, said: “AI will have an impact everywhere.”

The Chip Cycle

Nvidia climbed 20 places to No. 27 and became the most valuable chip company on the list. South Korea’s SK Hynix, whose high-bandwidth memory chips are essential to AI servers, jumped 107 places to No. 48. Alphabet, one of the largest AI hyperscalers, rose five places to No. 4. CoreWeave, the AI cloud computing firm that joined the list last year, climbed 706 places to No. 1,093.

A similar trend could be seen in the hardware space. Taiwan’s Hon Hai Precision, the iPhone assembler and AI server manufacturer better known as Foxconn, climbed 55 places to No. 82. SanDisk, the California flash-storage company, entered at No. 614 after ranking outside the top 2,000 last year.

The Physical Side Of The Trade

It is not only code and cloud that saw growth, however. The materials industry also gained from the harder edge of the chip cycle. Materials companies on the Global 2000 rose 67.5% in market value and grew profits by 38.6%, as investment interest rewarded producers of copper, cobalt, lithium and the chemicals feeding semiconductors, advanced manufacturing, power systems and data centres.

British-Australian mining giant Rio Tinto climbed 24 places to No. 111 after landing a two-year collaboration with Amazon Web Services to supply copper made with its Nuton bioleaching technology to AWS’s US data centres. Nucor, the steel manufacturer, rose 84 places to No. 416 on the back of data centre demand for its pre-engineered, plug-and-play steel products, the racks that hold the servers.

The Banks Still Hold Their Own

Even with AI dominating this year’s headlines, the top of the ranking still belongs to those who are in charge of the balance sheets. JPMorganChase, for instance, holds onto its No. 1 spot for the fourth year in a row, with $4.9 trillion (approximately €4.5 trillion) in assets.

There are 314 banks on this year’s list, more than any other industry, holding $140.4 trillion (approximately €130 trillion) in combined assets. That is more than half of the total for all 2,000 companies.

Another 136 diversified financial firms made the cut, alongside 113 insurers.

Banks and insurers are responsible for enormous balance sheets by design, while technology firms tend to be lighter on assets and therefore receive less credit on that metric. Elevated interest rates helped, too, allowing banks, insurers and other lenders to earn higher profits on loans and fixed-income assets.

The rest of the top 10 show a little more diversity. Amazon takes second place on $742.8 billion (approximately €688 billion) in sales and a $2.8 trillion (approximately €2.6 trillion) market value. Alphabet sits at No. 4 and Microsoft ties for No. 7, both benefiting from investor interest for the firms producing the software, cloud services and AI platforms driving the current tech rally. Berkshire Hathaway, Saudi Aramco and Bank of America remain in the upper tier on the strength of their profits, assets and cash generation. Three Chinese banking giants (ICBC, China Construction Bank and Agricultural Bank of China) close out the top 10, a remnant from the era when Chinese lenders led the list

Of the 2003 top 10, only Bank of America is still on it today.

The Old Economy And The New

The Global 2000 still shows both faces of the world economy. The heavyweight banks continue to sit on the assets, the oil majors continue to produce the cash, and the retail giants continue to move the goods. The biggest change this year was the direction of investor interest. Businesses did almost the same work they did last year, but the markets repriced that same work with AI.

The winners of that repricing saw impressive growth in this year’s ranking. Chipmakers, server manufacturers, memory producers and the infrastructure firms powering AI data centres witnessed the biggest re-ratings anywhere on the list. Whether the market’s enthusiasm endures is the question the next twelve months will answer.

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