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Climate Change Risks Costing Germany Up to €900 Billion by 2050

  • Government study says damages to occur more frequently
  • 2021 floods already shaved more than €40 billion off GDP
The damaged banks of the Ahr river after floods devastated parts of western Germany, in Dernau, Germany, on Friday, July 30, 2021.

The damaged banks of the Ahr river after floods devastated parts of western Germany, in Dernau, Germany, on Friday, July 30, 2021.

Photographer: Alex Kraus/Bloomberg
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Climate change could end up costing Europe’s largest economy up to €900 billion ($958 billion) by 2050, according to a government report.

Devastating floods in 2021 already shaved more than €40 billion off German gross domestic product, a report published Monday said, with such damages possibly occurring “more and more frequently” by the middle of the century. The ultimate cost depends on the scale of climate change and whether Germany takes adequate measures to mitigate it, researchers said.