By 2050, climate change could cost Germany 900 billion euros. This was revealed on Monday by a study for which several ministries investigated the cost of varying levels of global warming.
In the cheapest scenario, Berlin will get away with 280 billion euros, but the researchers point out that the price tag “could be much higher than the scenarios in the model indicate”.
“Climate change is already having serious economic consequences today, which could increase even further,” said Green State Secretary for Climate Action Stefan Wenzel in Handelsblatt.
It is not about exact predictions because some aspects, such as deaths from heat or floods and biodiversity loss, are difficult to quantify.
The study considers costs that go beyond pure reconstruction after natural disasters. These costs are due to more limited production possibilities or interrupted supply chains.
Climate change in Germany is mainly being felt by heavy rainfall, flooding, heat waves and drought. They have already cost the country 145 billion euros since the turn of the century. The heavy floods of the summer of 2021 killed more than 180 people in the eastern neighbours.