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Europe's Weather Woes: €126 Billion Losses by 2029

9/15/2025

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Summary

Story summary

Europe experienced economic losses of at least €43 billion from extreme weather in summer 2025, projected to increase to €126 billion by 2029.
Heatwaves, droughts, and floods affected 96 regions, with southern countries like Spain, Italy, and Greece being the hardest hit.
Spain is expected to face €12 billion in short-term losses and €34 billion in medium-term losses.
Experts caution that estimates may be conservative, excluding potential disasters like wildfires.
The study highlights the importance of considering indirect economic impacts, such as supply chain disruptions, in discussions on the EU's 2040 climate targets.

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Story summary

Europe experienced economic losses of at least €43 billion from extreme weather in summer 2025, projected to increase to €126 billion by 2029.
Heatwaves, droughts, and floods affected 96 regions, with southern countries like Spain, Italy, and Greece being the hardest hit.
Spain is expected to face €12 billion in short-term losses and €34 billion in medium-term losses.
Experts caution that estimates may be conservative, excluding potential disasters like wildfires.
The study highlights the importance of considering indirect economic impacts, such as supply chain disruptions, in discussions on the EU's 2040 climate targets.