Extreme heat could become a major drag on growth in Europe's largest economies, driven by falling labour productivity and rising demand for cooling, according to a new report by Allianz Trade.
By 2030, cumulative GDP losses could reach 5% to 7% in the countries most exposed to rising temperatures. France tops the European ranking, with potential losses of $240 billion (€209bn) over the next five years, according to Allianz.
