Global warming could cost Europe up to €65 billion a year
If the climate expected in the 2080s occurred today, the EU would face yearly GDP losses between €20 and €65 billion, depending on the temperature increase in Europe (2.5°C to 5.4°C). This result takes into account four aspects that are highly sensitive to climate changes: agriculture, river flooding, coastal systems and tourism. This is the estimation published today in a report of the European Commission's Joint Research Centre (JRC). The PESETA study also shows different regional impacts of climate change across the EU. Damages would occur mainly in Southern and Central Europe, while Northern Europe would be the sole region to benefit, in economic terms and for the aspects studied, from climate change.