Rising sea levels to cost Europe 872 billion euro

Rising sea levels due to climate change are to cost Europe up to 872 billion euro by 2100, with Italy, and particularly the northern regions of Emilia Romagna and Veneto, Poland, north-western France, the Netherlands, Denmark and the Baltic States being most at risk. These are the findings of a study led by the Technological University of Delft in the Netherlands with the participation of the European Institute of Economics and the Environment in Milan and Ca' Foscari University in Venice and nature.com/articles/s41598-023-48136-y">published in the journal Scientific Reports.

The authors say the results highlight the need for region-specific economic policies to address the possible impact of rising water levels and limit damage.
Researchers led by Ignasi Cortés Arbués simulated the potential economic impact of rising sea levels in 271 European regions from now until 2100, in a scenario involving high pollutant emissions and no new coastal protection measures.
For their model, the scientists combined previously obtained data on the expected impacts and economic losses caused by 155 flood events across Europe between 1995 and 2016.

The results indicate damage of up to 872 billion euro for Europe and the UK, with significant differences between regions: Italy will be among the hardest-hit countries, while those further inland could make economic gains by shifting production from flooded coastal regions to inland areas.

The data also show that targeted investments in logistics, public services and construction could mitigate economic losses at negligible cost to the overall European economy.