2 Days
Source:
Sky News
Germany faces 36 billion euro heatwave cost
Germany suffered economic losses estimated at 36 billion euros due to the heatwave and drought that lasted for weeks, accounting for approximately 0.8% to 0.9% of the country's GDP. The damages were concentrated in crop losses, reduced productivity, increased healthcare costs, and harm to sectors such as agriculture, the chemical industry, and steel production. The crisis also led to a halt in inland navigation due to lowered water levels. Estimates indicate that productivity losses alone amounted to around 10.8 billion euros, along with significant damage to forests and other health-related costs. Fully quantifying all the repercussions remains difficult due to data limitations. The organization called on the German government to take serious action to address the climate crisis, emphasizing that the true costs of these climate phenomena are six times higher than current estimates.
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