European Agriculture Faces Growing Climate Risks that EU Can Help Counter, New Study Finds

The EU's agricultural sector loses 28.3 billion euros each year due to extreme weather resulting from climate change, writes Reuters, citing an analysis supported by the EU.

Extreme weather events, especially long periods of drought, cause damage in European agriculture of an average of 28 billion euros per year. The problem: Insurance is only the smallest part. In Germany, common insurance policies are too heavily focused on hail damage. In order to ensure food security in Europe, more modern risk transfer mechanisms are needed, writes the insurance broker Howden in a study commissioned by the European Investment B…

EU farms lose €28B yearly to extreme weather, report finds

EU farms lose €28B yearly to extreme weather, report finds Most climate-related losses remain uninsured

A significant proportion of these commodities come from countries vulnerable to climate risk and have limited resources to adapt to them.

European agriculture faces growing climate risks that EU can help counter, new study finds

(Credit: Unsplash) This article is published in association with European Investment Bank. EU agriculture sector loses more than €28 billion a year as a result of adverse weather, according to new report Farm insurance in Europe can play key role to keep climate risks in check, says study published by EIB and European Commission EU can do more to expand insurance coverage for European farmers   The European Union agricultural sector loses more …

Cat bonds recommended as EU agriculture losses projected to reach €40bn by 2050: Howden - Artemis.bm

Catastrophe bonds and other private market risk-transfer tools are essential to help Europe’s agriculture sector manage mounting climate risks, according