Finance
Europe Seeks Stronger Protection for Economy From Climate Risks
- EU Commission unveils new climate change adaptation strategy
- Europe wants to become world’s first climate-neutral continent
The economic losses for increasingly frequent extreme weather events are more than 12 billion euros per year on average, according to the European Commission.
Photographer: Mehdi Fedouach/AFP/Getty Images
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The European Union is bolstering its 14-trillion-euro ($17 trillion) economy against damage caused by the impacts of climate change, from droughts to floods and forest loss.
Under an updated climate adaptation strategy unveiled Wednesday, the European Commission is calling for efforts such as better use of climate-risk data, smarter damage prevention and increased insurance coverage. It’s part of the EU’s environmental overhaul called the Green Deal.