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وكالة صدى نيوز
Climate damages impact European economy
The article addresses the economic damages caused by severe climate change in Europe, which leads to natural disasters such as floods and wildfires, costing the European Union billions of euros. Since 1980, losses have totaled approximately 822 billion euros, with a quarter of that amount occurring in the past four years. The study highlights that the increasing frequency and cost of these disasters put pressure on public budgets, especially amid rising spending on other issues like defense and an aging population. Experts emphasize the need for early investment in the resilience of economies to climate change in order to prevent rising debt levels and a decline in funding allocated to preventive measures—particularly following events like the 2024 floods in Spain and Europe's most severe floods in five decades. Some countries, such as Portugal, are working to implement mandatory home insurance and develop mechanisms for disaster solidarity and management to reduce future damages.
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