EU must prepare for worsening weather - Economic damage to infrastructure estimated at 45 billion euros per year
The European Union is unprepared for worsening climate change and must urgently increase its investments to protect people and infrastructure from increasing floods, wildfires and heatwaves, independent EU advisers said.
According to the World Meteorological Organization, climate change has made Europe the fastest-warming continent in the world, causing more frequent and intense heat waves, floods, coastal destruction and storms.
Economic damage to European infrastructure and buildings from weather and climate extremes is now €45 billion a year, five times higher than in the 1980s, data shows.
While the EU has ambitious targets to reduce greenhouse gases, the main cause of climate change, its efforts have failed to adapt to the extreme weather that climate change is already driving.
Without stronger preparations, extreme weather will further damage the EU's competitiveness, strain public budgets and increase security risks, the advisers said. They recommended that the EU agree to prepare, across all member states, for the risks associated with warming of 2.8 to 3.3°C by 2100.
This should be used to develop policies to help people and businesses adapt, the advisers said, for example, ensuring that housing is not built in flood-prone areas, planning support for drought-stricken farmers, or designing cities to help people stay cool when temperatures rise.
The average global temperature is now 1.4°C higher than in pre-industrial times. If countries' latest national climate pledges are met, they will still lead to 2.3 - 2.5°C of global warming this century, according to the UN.
EU advisers said another key area is investing in public early warning systems and increasing insurance coverage, for example by considering reinsurance at EU level. Only a quarter of climate-related economic losses in the EU are currently insured.
The European Commission will propose a new strategy on "climate resilience" later this year, following weather disasters, including the 2023 floods in Slovenia, the reconstruction costs of which amounted to 11% of the country's GDP, and Europe's worst fire season on record last year.
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