Monday 6 March 2023

‘Climate change to cost Germany €900bn’

‘Climate change to cost Germany €900bn’

By 2050, climate change could cost Germany €900 billion (£798bn).

That’s according to government data from Germany’s ministries of Environment and Economy, revealing the financial impact climate change could have on the country under certain circumstances.

In a best-case scenario – labelled ‘weak climate change’ – the cost was still upwards of €280 billion (£248bn).

The average cost of dealing with extreme weather events was deemed likely to increase by between 1.5 and five times every year by 2050 – which would be represented by a 0.6% – 1.8% decrease in GDP.

More green spaces in cities was raised as a solution that could cut the economic impact by up to 60%.

The worst scenarios were difficult to predict accurately, the researchers said, meaning “the costs of climate change can still turn out to be considerably higher than determined by the scenarios in the model context.”

Written by

Bruna Pinhoni

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