'Climate risks demand immediate attention': How extreme weather could wipe almost five per cent off Europe's GDP

Michael Holder
clock • 6 min read
Credit: iStock
Image:

Credit: iStock

New analysis from group of central bankers and financial experts concludes delivering on EU's net zero policies could largely guard against projected climate-related losses

A series of climate change-driven extreme weather events could wipe almost five per cent off Europe's projected GDP over the next five years - yet such economic damages could be largely avoided if the...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Risk

A third of Britons fear extreme heat will slash the value of their homes

A third of Britons fear extreme heat will slash the value of their homes

Survey reveals growing fears over-heating, subsidence, and increased flood and fire risks could impact property valuations in the coming years

James Murray
clock 03 August 2026 • 3 min read
Nearly five million properties across Europe to face heightened wildfire risk by 2050

Nearly five million properties across Europe to face heightened wildfire risk by 2050

Analysis from Climate X estimates nearly five million properties will experience wildfire threat, as FT analysis suggests economic cost of recent fires has topped €3bn

James Murray
clock 03 August 2026 • 3 min read
UK at risk of recession if Strait of Hormuz blockade continues, EY warns

UK at risk of recession if Strait of Hormuz blockade continues, EY warns

Consultancy's latest forecast argues UK economy has proven surprisingly resilient in face of energy shock, but risk of recession is growing as disruption to oil and gas markets continues

James Murray
clock 03 August 2026 • 5 min read