Dutch Bank Warns Extreme Heat Could Wipe Out EU Growth
Serbian News Media pre 1 dan
Drought and extreme heat that have affected large parts of Europe could erase a significant portion of the region’s expected economic growth this year, Dutch bank Triodos warned in a new report.
The bank, which specializes in financing environmentally and socially sustainable projects, estimates that heat-related disruptions could reduce the EU’s gross domestic product (GDP) by about one percent. This means economic losses of 180 billion euros, mainly due to lower labor productivity, Triodos estimates, according to Reuters today. EU GDP losses due to reduced productivity are estimated at around 0.6 percent, while agricultural production is expected to
