Daily News for Energy & Environment

Europe: Cost of climate change grows steadily

Extreme climate events cost Europe €400 billion between 1980 and 2013, a report by the European Environment Agency has found. And the cost is rising. EurActiv’s partner Journal de l’Environnement reports.

“Climate change poses increasingly severe risks for ecosystems, human health and the economy in Europe,” the European Environment Agency’s (EEA) four-yearly report, published on Wednesday (25 January), stated.

Extreme climate events, such as flooding and heatwaves, are among the most obvious effects of climate change. According to the EEA, the combined cost of these episodes to 33 European countries reached €393 billion between 1980 and 2013.

The single most costly natural catastrophe was the flooding that hit Europe in 2002 (€20bn), followed by the summer heatwave of 2003 (€16bn) and Storm Lothar in the winter of 1999 (€14bn).

The three worst-affected countries in absolute terms were Germany (€79bn), Italy (€60bn) and France (€53bn). In terms of GDP, extreme climate events caused the most damage in the Czech Republic over the 33-year period (0.24%), followed by Croatia (0.2%) and Hungary (0.18%). France’s losses between 1980 and 2013 were worth 0.9% of GDP.

But the bill is growing steadily. From €7.6 billion per year in the 1980s, it rose to €13.7 billion per year in the 2000s. This increase could be down to a combination of rising populations and increased development in at-risk areas, as well as the increasing intensity of climatic events.

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