Heatwaves in Europe Threaten Economic Growth, Report Warns
A recent report by Triodos Bank highlights the economic impact of extreme heatwaves across Europe, predicting significant reductions in GDP growth for several countries. France could see a 1.4 percentage point drop in growth, potentially leading to a recession, while the Netherlands may experience a near-total loss of expected growth. The report emphasizes that the economic burden will be most severe for those working in extreme heat, with potential GDP losses of 0.6% due to decreased productivity and a 3-7% drop in agricultural output. The report warns that such extreme weather events could become structural as the planet warms.