The European Economic Review has published the results of a joint study conducted by the University of Mannheim and the European Central Bank.
It estimated that last summer disasters costed Europe €43 billion and caused a 0.26% drop in the EU production compared to 2024.
The continent has not been affected uniformly, with the Mediterranean basin paying the heaviest price for extreme weather events (Cyprus, Greece, Malta, Bulgaria, Spain, Italy, Portugal).
The disasters included in the survey are heatwaves, droughts and floods, causing productivity reduction, damage to infrastructure and disruptions to supply chains.
To conclude, the researchers recommend urgent investments in urban heat protection and improved water management, or else, the bill could rise to €126 billion by 2029.
