Floods in Europe could cost up to €100bn a year by 2080

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 […]

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By Jacqueline Echevarria

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.