facebook
twitter
rss
account
search
search
 

EU wary of economic hit from climate change

No action is the most expensive option, commissioner says.
By Daniel J. Graeber   |   June 25, 2014 at 10:13 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-4701403704648/2014/1/1140f7cb03de61cd6f73a86b79cf3df7/EU-wary-of-economic-hit-from-climate-change.jpg
BRUSSELS, June 25 (UPI) -- Climate damage to the European Union could cost more than $200 billion if no further action is taken, a European analysis published Wednesday finds.

A Wednesday report for the European Commission's Joint Research Center finds that if global temperatures increase as expected, the economic costs could amount to a net welfare loss of 1.8 percent of the current gross domestic product for the European Union.

Beyond the economic impact, the report finds heat-related deaths could increase and those people living in low-lying coastal areas would suffer if sea levels rise.

European Commissioner for Climate Action Connie Hedegaard said it makes more sense to invest now in efforts to address climate change than to pay for future damages.

"No action is clearly the most expensive solution of all," she said in a statement.

Members of the EU are obligated to cut emissions by 20 percent from the 1990's level by 2020. EU leaders are set to review an energy package that sets benchmarks for 2030 in October.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
3
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
4
No means yes for Scotland, energy companies say No means yes for Scotland, energy companies say
5
EIA: Russia diversifying energy production EIA: Russia diversifying energy production
Trending News
Video
x
Feedback