Severe weather wreaks billions in destructive losses across Europe - Harsh weather conditions lead to significant financial losses amounting to billions in Europe
The European Environment Agency (EEA) has released an updated analysis of economic damages from weather and climate-related extreme events in Europe, revealing that Slovenia, Luxembourg, Switzerland, Italy, and Spain have suffered the highest per capita losses.
In the latest comparison year, 2023, the EEA analysed data from 38 European countries, including 27 EU members, eleven countries closely linked to them, and for the first time, the six Western Balkan states. The findings show a divide between western/central Europe with generally higher economic losses and eastern/northern Europe with lower losses, though per capita losses vary less drastically.
Slovenia, with approximately EUR 8,733 losses per capita, has the highest losses per capita, followed by Luxembourg (EUR 2,694), Switzerland (EUR 2,685), Italy (EUR 2,330), and Spain (EUR 2,279). These countries generally exhibit higher per capita losses compared to others in Europe.
In terms of absolute economic losses (total monetary value regardless of population size), Germany, Italy, France, and Spain have experienced the highest losses since 2001 due to weather- and climate-related events such as floods, storms, wind, and hail. On the other hand, countries with the lowest total losses include Iceland, Kosovo, Montenegro, Finland, and Estonia, reflecting geographic and exposure differences.
The analysis also highlights the insufficient insurance coverage for weather-related damages across Europe. Many countries have a very high insurance protection gap, meaning a large share of losses is uninsured. Western Balkan countries like Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia have nearly 100% protection gaps, indicating almost no insurance coverage for climate-related damages. Other countries including Bulgaria, Croatia, Italy, Spain, and Türkiye also have protection gaps above 90%.
The main causes of damages, according to the analysis, are floods, storms, wind, and hail. However, the EEA noted that deaths often cannot be directly attributed to heat, which somewhat limits comparability. The main causes of deaths are heat and cold waves, droughts, and forest fires. Despite the high economic damages, the insured damages from weather extremes grow slower than the total economic damages.
In Germany, economic damages from extreme events amounted to 180 billion euros, making it among the countries with the highest total losses. The economic damages from extreme events in Europe in 2023 amounted to over 45 billion euros, with the total economic damages from extreme events since 1980 exceeding 790 billion euros.
The EEA's analysis underscores the urgent need for improved insurance coverage and risk management strategies to protect Europe's economies from the increasing impacts of extreme weather events.
**Summary**
- The EEA's analysis reveals that Slovenia, Luxembourg, Switzerland, Italy, and Spain have suffered the highest economic losses from weather extremes. - Germany, Italy, France, and Spain have experienced the highest losses since 2001 due to weather- and climate-related events. - Many countries have a very high insurance protection gap, indicating significant uninsured economic exposure across Europe. - The main causes of damages are floods, storms, wind, and hail, while heat and cold waves, droughts, and forest fires are the main causes of deaths. - The economic damages from extreme events in Europe in 2023 amounted to over 45 billion euros, with the total economic damages since 1980 exceeding 790 billion euros.
[1] EEA (2023). Economic damages from weather and climate-related extreme events in Europe. European Environment Agency. [2] EEA (2023). The impacts of weather and climate-related extreme events on human health in Europe. European Environment Agency. [3] EEA (2023). The impacts of weather and climate-related extreme events on ecosystems in Europe. European Environment Agency.
- The European Environment Agency's study on economic damages from weather and climate-related extreme events indicates a need for improved employment policies in Europe, especially addressing insurance coverage and risk management strategies, given the increasing impacts of these events.
- In light of the EEA's findings on climate-change impacts, it is necessary to reevaluate current science and environmental-science curricula to better prepare the workforce for addressing these challenges and implementing effective climate-change policies.
- General-news outlets could play a role in raising awareness about climate-change and its consequences, such as weather extremes, by consistently reporting on these topics and emphasizing their significance in environmental-science and policy discussions.
