Extreme Summer Weather Costs Germany Nearly 1% of Its Annual GDP -Report « Carbon Pulse
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The effects of the extreme heat and weeks-long drought in Germany have cost the country's economy at least €36 billion, according to estimates by the environmental organization Greenpeace. The organization said on Monday that this equates to 0.8 to 0.9 percent of Germany's economic output. Greenpeace's assessment calculated the economic damage caused by crop losses, forest fires, healthcare costs, as well as lost productivity and education costs…
Extreme summer weather costs Germany nearly 1% of its annual GDP -report « Carbon Pulse
Germany is facing a bill of €36-42 billion from extreme heat events this summer, including estimated damages from heat-induced breakdowns in transit, health, forestry, agriculture, productivity losses, and education costs, said Greenpeace, equivalent to 1% of its annual GDP.
According to Greenpeace's calculations, the record summer with extreme heat and drought has caused massive economic damage. At least 36 billion euros this year alone could have resulted from production losses, crop losses and falling labour productivity, as Mauricio Vargas, financial expert at Greenpeace, explains on radioeins.
The economic impact suffered the most due to a decline in productivity, and forests, healthcare, and industry also suffered major damage.
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