A recent briefing by the European Environment Agency (EEA) highlights the urgent need for increased investments in climate resilience, particularly in agriculture, energy, and transport. The EEA estimates that between €53 billion and €137 billion per year will be necessary by 2050, escalating to an additional €59 billion to €173 billion by 2100, depending on global temperature rises. Currently, investment stands at only €15-16 billion annually, primarily from public sources.
From 2021 to 2024, the EU faced economic losses of €40-50 billion annually due to extreme weather events, totaling €822 billion since 1980. These projections do not account for indirect costs, indicating a growing financial burden.
Investments in climate adaptation not only mitigate losses but also offer significant economic returns. For instance, adapting to coastal flooding could yield €6 for every €1 spent, with further studies showing returns of over US$10.50 on investments in adaptation over a decade.
The briefing introduces the “double dividend” and “triple dividend” concepts, highlighting that climate adaptation not only safeguards infrastructure but also contributes to emission reductions and sustainable development. The EEA emphasizes the importance of proactive investment in climate-resilient solutions to enhance Europe’s competitiveness and address global challenges like food security.
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