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The Economic Times

Europe’s economy faces the hard reality of climate change this summer

ING Europe Euro Climate Change Economy Carsten Brzeski the European Central Bank Allianz ECB Southern Europe

FRANKFURT: For anyone in Europe who still thought climate change was a problem for future generations, this summer's sweltering heatwaves have brought home the reality that its costly and life-altering economic impacts have already arrived.

Record heat and droughts this summer - which scientists say are exacerbated by global warming - have wreaked havoc in power production, shipping and public health systems, while this wildfire season is on track to be Europe's biggest ever.

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