JRC PESETA IV project - Task 14
Climate change damages the capital stock, affects economic production and the welfare of households in regions suffering the impact or that are economically linked with them. These economic effects have been quantified for seven climate impact categories: river floods, coastal floods, agriculture, energy supply, droughts, windstorms and human mortality. Due to the limited coverage of climate impacts, the assessment does not evaluate the full economic impacts of climate change in Europe. Human mortality from temperature extremes dominate the economic climate impacts, yet its contribution is strongly dependent on the monetary valuation of human lives. The magnitude of welfare losses in the Southern regions (Central Europe South and Southern Europe) is estimated to be several times larger compared to that in the North of Europe. Limiting warming to 2C would halve economic impacts compared to a 3C scenario, while achieving the stringent Paris target of 1.5C would lower welfare loss by 75%.
SZEWCZYK Wojciech;
FEYEN Luc;
MATEI Nicoleta-Anca;
CISCAR MARTINEZ Juan Carlos;
MULHOLLAND Eamonn;
SORIA RAMIREZ Antonio;
Szewczyk, W., Feyen, L., Matei, N., Ciscar Martinez, J., Mulholland, E. and Soria Ramirez, A., Economic analysis of selected climate impacts, EUR 30199 EN, Publications Office of the European Union, Luxembourg, 2020, ISBN 978-92-76-18459-1, doi:10.2760/845605, JRC120452.
2020-05-13
Publications Office of the European Union
JRC120452
978-92-76-18459-1 (online),
1831-9424 (online),
EUR 30199 EN,
OP KJ-NA-30199-EN-N (online),
https://publications.jrc.ec.europa.eu/repository/handle/JRC120452,
10.2760/845605 (online),
