Climate crisis to have a greater weather and economic impact in Southern Europe

Europe stands to suffer significant economic effects, amounting to some 7% of its output by the end of the century, even if the world manages to contain the increase of global temperatures to 1.5 degrees centigrade above pre-industrial level, according to a draft European Commission communication seen by Bloomberg.

The climate change will be even more acute in Southern Europe, including Greece, the EC report argues, with the average temperature in the continent rising by a considerable 3C in the scenario of a global rise by 1.5C.

The blueprint further warns that in case global warming exceeds 1.5C above pre-industrial levels, the impact will be even more dramatic, with the European Union economy standing to lose some 2.4 trillion euros from its gross domestic product between 2031 and 2050.

Besides the measures the draft communication proposes regarding the...