The European Central Bank is warning today of the major economic risks of drought in Europe, which threaten up to 15% of the eurozone production in the event of extreme weather incidents that will take place more often with climate change. “Lack of surface water is the greatest risk for the eurozone economy,” writes five blog authors published on the ECB website. Events of extreme drought can cause chain consequences: the lack of surface water reduces agricultural yields, stops production and increases costs, reduces hydroelectricity and river transport, including examples cited by authors. Another finding: The actual or perceived reduction in water has already caused a strong reduction in tourist visits in some areas, causing financial losses estimated at more than € 100 billion a year. More generally, authors estimate that 72% of eurozone companies depends decisively on the goods that nature offers directly: drinking water, food […]
Source: News Beast
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