How many economic losses from climate-related events has Europe suffered since 1980?

Europe has knowledgeable complete €790 cardinal successful economical losses owed to utmost upwind and climate-related events from 1980 to 2023, according to a caller European Environment Agency (EEA) report.

Germany suffered nan highest full economical losses during this period, pinch costs amounting to €180 billion.

It is followed by Italy, pinch costs mounting to €135 billion, France astatine €130 billion, and Spain, which suffered a nonaccomplishment of €97 cardinal owed to specified events.

However, nan image changes somewhat for nan 21st century.

Taking only losses occurring this century, Germany, Italy, France, and Spain are followed by a group of six EU countries (Austria, Belgium, Czechia, Portugal, Romania, and Slovenia), which incurred very akin full losses amounting to betwixt €12 cardinal and €15 billion.

The United Nations' Intergovernmental Panel connected Climate Change (IPCC) estimates that nan strength and wave of ambiance extremes person accrued successful immoderate European regions and are projected to proceed rising pinch further world warming.

Floods and heatwaves person been nan superior causes of economical harm crossed nan EU.

While larger economical losses successful wealthier and much developed countries whitethorn look significant, they thin to person a smaller effect connected nan nationwide system compared to smaller losses suffered by poorer, little developed nations.

Wealthier countries thin to allocate a smaller information of their nationalist budgets for recovery, aliases whitethorn beryllium amended equipped to grip specified losses.

Western and cardinal European countries, specified arsenic Slovenia, Belgium, and Germany, acquisition higher losses per quadrate kilometre, while eastbound and bluish countries for illustration Finland and Estonia thin to suffer little financially.

Meanwhile, Slovenia has nan highest losses per capita successful Europe, amounting to €8,733 betwixt 1980 and 2023.

This is followed by Luxembourg (€2,694), Switzerland (€2,685), Italy (€2,330) and Spain (€2,279).

On nan different hand, Kosovo (€10), Montenegro (€41), and Iceland (€87) are nan countries pinch nan lowest losses per capita.

"Losses per capita alteration little than losses per quadrate kilometre and respective countries person comparatively akin values," nan EEA investigation stated.

Climate consequence insurance

Most European countries person backstage security to protect against climate-related earthy hazards.

Climate security tin connection location entities, governments, institutions, companies, organization groups, households and individuals protection against nonaccomplishment of life, livelihood aliases assets caused by utmost upwind events.

It ensures accelerated post-disaster payments to nan insured individual, household, organization group, company, institution, authorities or regional entity.

For nan 27 EU personnel states, nan mean of insured losses accrued complete clip from €2.5 cardinal successful 2009 to €4 cardinal successful 2023, according to nan EEA.

For instance, France and Spain person nationalist security systems revolving astir public-private partnerships (Caisse Centrale de Réassurance, CCR and Consorcio de Compensación de Seguros, CCS, respectively).

However, astatine slightest 16 EU countries study an security protection spread supra 90%.

Only Denmark has much than 50% of its losses covered by insurance.