A joint study by Dr Sehrish Usman (University of Mannheim) and economists from the European Central Bank, published on Monday 15 September, reveals that macroeconomic production losses due to extreme weather events (heat, droughts, floods) during the summer of 2025 are estimated at €43 billion in 2025 and €126 billion by 2029. This represents 0.26 and 0.78% of GDP in 2024.
So, “the real costs emerge gradually, as these events affect lives and livelihoods through multiple channels...