Europe’s Climate Crisis Hits Wallets | Bermuda News

Europe’s climate crisis is hitting its finances hard—wildfires and floods are costing governments billions, with most damage uninsured. Between 1980 and 2024, EU climate disasters racked up €822 billion, with a quarter of that in just four years. Only 25% of losses are covered by insurance, and in some countries, less than 5%. As extreme weather becomes more frequent, the financial burden grows—potentially eating up 1-2% of GDP. Countries like Greece and Portugal are pushing for better insurance and resilient infrastructure, while catastrophe bonds offer risky alternatives. Europe must act now: smarter investments and shared risk management aren’t optional—they’re essential to protect public finances from the escalating climate emergency. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/6946ee8e1c95735f