Germany’s tryst with climate change

According to a research paper released on Monday, extreme heat, droughts, and floods brought on by climate change have cost Germany at least 6.6 billion euros ($6.69 billion) in damages yearly on average, over the past 20 years, with some extreme events pushing costs into tens of billions.

According to the Prognos report, conducted by an economic research firm, hundreds of deaths have been attributed to high temperatures, which scientists say are compatible with climate change, as they battle to contain massive wildfires across Europe.

Effects of climate change include:

  • Damages from floods in North Rhine-Westphalia and Rhineland-Palatinate in 2021 totaled more than 40 billion euros
  • During the summers of 2018 and 2019, the largest economy in Europe paid a price of 80 billion euros
  • Decreased biological variety

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