Climate change could cost Germany €900bn by 2050, study finds
Weather damage caused by climate change could cost Germany up to 900bn Euros by 2050 – as reported by Reuters, citing a study
Berlin is working on a climate change adaptation strategy to be presented shortly by the Ministry of the Environment.
At the same time, economic research companies Prognos and GWS, as well as the German Institute for Ecological Economy Research, conducted an analysis showing that extreme heat, drought and floods could cost Germany between 280bn and 900bn Euros between 2022 and 2050. As specified, the amount will depend on the scale of global warming.
The costs are noted to include loss of agricultural crops, damage to or destruction of buildings and infrastructure due to heavy rains and floods, disruption of the transport of goods, and impact on the health system.
Experts underline that possible damage can be reduced from 60 percent to 80 percent through climate adaptation measures. However, the study does not mention how much these measures may cost the German government.
The study found that from 2000 to 2021, at least €145bn in damage was caused by the consequences of the climate crisis, and €80bn since 2018 alone.
