River floods in Europe could cost up to €100 billion annually by 2080.
They would also affect nearly one million people.
A new study by the European Commission stated under high levels of global warming and extreme climate scenarios the costs would increase to an estimated €40 billion by just 2050 and affect more than a half a million people. Thirty years later it predicts the €100 billion price tag.
The report stated: “Under these high-end climate scenarios, estimates of population affected and direct flood damages indicate that in 2080 the socio-economic impact of river floods in Europe could more than triple, i.e. rise by an average 220% due to climate change alone.”
The EU report comes two days after the World Energy Council presented a study to the G20 predicting extreme weather effects would increase and directly risk energy security in the future.