$31 billion<\/a> in Europe, according to the insurance company MunichRe.<\/p>\n\u201cClimate change has increased the frequency and intensity of extreme weather events like floods, droughts, heat waves, wildfires, and all of this is contributing to the rising economic cost for the European regions,\u201d Usman said at an event in Brussels on Monday.<\/p>\n
The study included physical damage to buildings and infrastructure as well as impact on worker productivity and efficiency, and spillover effects on other parts of the economy. It did not include damage from wildfires that burned more than 1 million hectares in Europe this year.<\/p>\n
\u201cThese events are not just temporary shocks,\u201d said Usman. \u201cThey manifest their impacts over time.\u201d Floods can disrupt supply chains. Droughts can cripple agricultural yields.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThese estimates are likely conservative,\u201d said the authors of the study, Sehrish Usman of the University of Mannheim,…\n","protected":false},"author":2,"featured_media":141315,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[2793,4550,48713,556,459,65662,10521,3602,2360,1397,145,2043,1909,14883,1349,2924,72,7081,3517,30971,90,640,8736,1668,1644,56,54,55],"class_list":["post-141314","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-buildings","tag-bulgaria","tag-climate-adaptation","tag-climate-change","tag-crisis","tag-cutting-emissions","tag-cyprus","tag-denmark","tag-emissions","tag-environment","tag-germany","tag-greece","tag-greenhouse-gas-emissions","tag-heat-wave","tag-insurance","tag-labor","tag-malta","tag-natural-disasters","tag-portugal","tag-regions-cohesion","tag-science","tag-spain","tag-supply-chains","tag-sweden","tag-turkey","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/141314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=141314"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/141314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/141315"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=141314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=141314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=141314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}