Climate change drives extreme weather and climate-related events, which in turn lead to economic losses. Such events, including heat waves, floods and storms, have caused over €145 billion in economic losses in the EU over the past decade. Furthermore, the 30-year moving average of climate-related economic losses shows a clear trend, increasing nearly 2% annually over the last decade. These are estimates by the European Environmental Agency, republished by Eurostat.
In 2020, the total climate-related economic losses were €12 billion. The highest total loss was recorded in 2017 (€27.9 billion), more than double that in 2020, as a result of the heatwaves registered in Europe that dried the land and caused wildfire conditions. The lowest total loss was observed in 2012 (€3.7 billion).
Greece recorded highest climate-related economic losses per inhabitant
In 2020, climate-related economic losses stood at €27 per EU inhabitant. The Member State with the highest loss per inhabitant (almost three times higher than the EU average) was Greece (€91 per inhabitant), followed by France (€62) and Ireland (€42). The lowest losses per inhabitant were registered in Bulgaria (€0.7 per inhabitant), Slovenia and Slovakia (both €4).
Would you like to learn more?
Climate-related economic losses is one of the indicators in the Eurostat interactive visualisation tool showing relevant statistics for the European Green Deal. It presents an overview of 26 indicators divided into 3 main topics: Reducing our climate impact, protecting our planet & health and enabling a green & just transition.