EEA: Climate-Related Disasters in Europe Caused Losses Worth Over $500Bln in 1980-2020

Copenhagen – The European Environment Agency (EEA) said on Thursday that 32 EEA member states have incurred economic losses worth over 450 billion euro ($508 billion) as a result of weather- and climate-related disasters from 1980-2020.

“For the EEA member countries, total economic losses from weather- and climate-related events of between EUR 450 and EUR 520 billion (in 2020 euros), depending on the source, were recorded for the 41-year period 1980-2020. Meteorological events and hydrological events each caused between 34% and 44% of total losses and climatological events caused between 22% and 24%,” the statement read.

The EEA noted that about 3% of these events were responsible for about 60% of economic losses. Only one-fourth to one-third of these losses were insured, with Belgium, Luxembourg and Denmark having the highest percentages of insured economic loses. Switzerland had the highest losses per area and per capita during the period, while Turkey and Iceland had the lowest values of losses.

The EEA added that these weather- and climate-related events resulted in fatalities between 85,000 and 145,000, with over 85% caused by heatwaves.

The agency stressed that the number of weather-related disasters has increased in the last 50 years, but these now cause more damage and less deaths.