The study funded by the European Commission says a warming climate will mean a cost for most EU nations, although it could benefit a few, the BBC reported Monday.
Scandinavian countries and the Baltic states could be better off as climate warms, the report says, mainly through increased opportunities for agriculture.
The United Kingdom and Ireland, meanwhile, would see a negative overall economic impact produced mainly through an increase in flooding.
The report focused on five issues affected by climate change: agriculture, river floods, coastal areas, tourism and human health.
"Climate change is happening, we need to adapt to it, so we need to know which sectors will be affected and why so we can establish adaptation policies -- which means minimizing impacts, but also taking advantage of opportunities," said Juan-Carlos Ciscar from the Institute for Prospective Technological Studies in Seville, Spain.