Extreme weather conditions in Europe have already cost hundreds of billions of euros, and these losses are only expected to increase in the future

Friday, Jul 25, 2025

Delfi

EU environmental agency reports over €790 billion in climate-related economic losses across Europe since 1980.

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[This is an automatically generated summary, for reference only]

The European Environment Agency reports that cumulative economic losses from weather and climate-related events exceeded 790 billion euros across member states of the European Economic Area and neighboring Western Balkan countries between 1980 and 2023. Germany sustained the largest losses at 180 billion euros, followed by Italy (135 billion euros), France (130 billion euros), Spain (97 billion euros), and Poland (20 billion euros). Looking only at the period since 2001, Austria, Belgium, Czechia, Portugal, Romania, and Slovenia experienced similar losses between 12 and 15 billion euros. The agency notes that losses vary based on surface area and population, with Western and Central European countries experiencing the highest losses per square kilometer. Slovenia recorded the highest losses per person in Europe from 1980 to 2023 (8,733 euros). Climate change is leading to more frequent and intense extreme events, which will cause greater future economic losses. Annual average economic losses are continuously increasing, with the period 2021–2023 accounting for over 162 billion euros in losses. Spain is projected to suffer 4.6 trillion euros in losses due to climate change by 2050. Lithuania experienced 2.3 billion euros in losses due to climate and weather-related extreme events between 1980 and 2023, and 2024 was noted as a record-breaking year for temperature increases and increased natural disasters.

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