CLIMATE COSTS FOR EUROPE ESTIMATED AT 500 BILLION EUROS

These changes are causing losses around the world. In the EU alone, climate change-related extremes caused over €145 billion in economic losses in the past decade. 
Between 1980 and 2020, the estimated losses reached almost €500 billion in the EU countries. 
France, Italy, and Germany are being hit the hardest by this extreme weather. Between 1980 and 2020, climate-related extremes led to economic losses totalling an estimated €487 billion in the 27 EU Member States. The annual average of the last 40 years is €11.9 billion. 
In 2002, the total loss peaked at €38.8 billion, whereas the lowest total loss was observed in 1988 at €1.3 billion. 
Losses were also very high in 2017 (€27.9 billion) due to heatwaves causing wildfire conditions.

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