Climate Inaction to Cost Europe €5.6 Trillion by 2050
A new study reveals that failing to implement climate-friendly policies could cost European countries around six times as much as the price of decarbonisation.
Climate inaction poses a significant threat to both Europe's healthcare systems and economies, with estimated costs reaching up to €5.6 trillion by 2050.
Economist Sigrid Stagl presented the study's findings, which analyzed the impact of climate change on European economies, including regional effects, job development, and productivity loss due to extreme weather events.
- $2.2 trillion (€1.89 trillion) is invested in climate action globally every year.
- For a successful global green transformation, investment would need to grow by four times.
- Europe would need to invest roughly three times as much as it currently does.
Author's summary: Climate inaction may cost Europe €5.6 trillion.
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