Greenpeace: Drought and heatwave impact Germany's economy

The German economy has suffered losses of at least 36 billion euros as a result of ongoing heatwaves and droughts lasting for weeks, which equate to approximately 0.8% to 0.9% of the country's gross domestic product. Crops have been damaged, wildfires have affected forests, healthcare costs have increased, and productivity has declined significantly—especially in sectors that rely on raw materials such as the chemical, steel, and oil refining industries. It is estimated that the productivity losses due to the high temperatures amount to 10.8 billion euros, while damages to forests range between 5 and 7.5 billion euros. Absences caused by health issues have resulted in losses of about 6.9 billion euros. Additionally, the agriculture, inland navigation, and education sectors have been impacted, with potential additional effects surpassing current figures—such as water shortages in the energy system and increased levels of ozone and fine particles caused by the heat. Based on these factors, estimates indicate that the economic damages from the ongoing climate disaster are far greater than currently calculable, highlighting the urgent need for ambitious climate actions to address these conditions.

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