Water scarcity could put up to 24% of the eurozone’s economic output at risk, the European Central Bank (ECB) has warned, as mounting environmental pressures threaten businesses and the banking sector.
The Bank ' s research showed that 72% of companies in the eurozone rely heavily on ecosystem services, while about 75% of bank loans to companies go to enterprises exposed to risks associated with those services. The Bank indicated that achieving the European Union ' s environmental objectives would require additional green investments equivalent to about 3% of GDP per year until 2030, with the public sector bearing between 20 and 25% …