Europe seeks stronger protection for economy from climate risks

By Ewa Krukowska

• EU Commission unveils new climate change adaptation strategy
• Europe wants to become world’s first climate-neutral continent

The European Union is bolstering its 14-trillion-euro ($17 trillion) economy against damage caused by the impacts of climate change, from droughts to floods and forest loss.

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“There’s not going to be a successful Green Deal, there’s not going to be climate neutrality in 2050 without a consistent effort into adaptation and mitigation,” said Frans Timmermans, the commission’s executive vice-president.

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Extreme weather events, such as forest fires and heatwaves in the Arctic Circle, droughts in the south and flooding and forest loss in central and eastern Europe, are already having far-reaching effects on the European economy. Total insurance losses for weather-related events amounted to 0.1% of gross domestic product in 2018 and are likely to rise.

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